$7,005 Closing Credit*
$589,900
2,284 SqFt
3 Beds
•2 Full Baths
Devon Bray, Listing Office: BHGRE, Ben Bray & Associates
Is Portland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Portland has remained a Neutral Market.
Key Takeaway
Portland is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Portland, TN
How much do homes in Portland, TN cost?
Median Sold Price
$339,925
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,925(+7.9%)
Key Takeaway
Homes in Portland have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Portland was $339,925 in November 2024, up 7.9% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $148K | $92.5K | -37.5% |
| 2 Bedrooms | $219.9K | $225.9K | +2.7% |
| 3 Bedrooms | $310.6K | $333.8K | +7.5% |
| 4 Bedrooms | $420K | $471.9K | +12.4% |
| 5+ Bedrooms | $505K | $506K | 0.2% |
Summary: Portland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.5%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 0.2%.
Housing Supply in Portland, TN
How many homes are available in Portland, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 156 | 159 | +1.9% |
Summary: The Portland real estate market had 159 homes for sale in November 2024, a 1.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 8 | 4 | -50.0% |
| 3 Bedrooms | 118 | 125 | +5.9% |
| 4 Bedrooms | 23 | 26 | +13.0% |
| 5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The Portland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 25 | -3.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Portland in November 2024, down by 3.8% month-over-month. Of the 24 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Portland, TN
How long does it take to sell a home in Portland, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 42 Days | +44.2% |
Summary: Homes in Portland had an average of 42 days on market in Nov 2024, up by 44.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portland are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in Portland; 52% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.