$3,859 Closing Credit*
$325,000
2,265 SqFt
3 Beds
•2 Full Baths
Naomi Clark, Listing Office: KEY Real Estate Services LLC
Is Portland, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Portland has remained a Seller's Market.
Key Takeaway
Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portland, CT
How much do homes in Portland, CT cost?
Median Sold Price
$365,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,000(+21.7%)
Key Takeaway
Homes in Portland have sold for 21.7% more than they did a year ago.
Summary: The median home sold price in Portland was $365,000 in October 2024, up 21.7% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.7K | $146.5K | -25.9% |
| 2 Bedrooms | $260.5K | $300K | +15.2% |
| 3 Bedrooms | $300K | $350K | +16.7% |
| 4 Bedrooms | $389K | $405K | +4.1% |
| 5+ Bedrooms | $432.5K | $422K | -2.4% |
Summary: Portland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.9%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Portland | $300K | $365K | +21.7% |
| Middletown | $280K | $308K | +10.0% |
| Cromwell | $292K | $310K | +6.2% |
Housing Supply in Portland, CT
How many homes are available in Portland, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 24 | -7.7% |
Summary: The Portland real estate market had 24 homes for sale in October 2024, a 7.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 12 | 9 | -25.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Portland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 5 | -58.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Portland in October 2024, down by 58.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Portland, CT
We’re sorry, we don't have information for this market at the moment
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