PORTLAND, Ore. — Houses typically sat on the market for 19.4 days during 2019 in 103 ZIP codes in the four-county Portland metro area.
That's nearly three days longer than 2018 when average median market time was 16.6 days, a 17% increase in time spent marketing homes and accepting offers.
Still, as the frenzy of the seller's market of the last several years gave way to a slower, more balanced market, there remained three neighborhoods — one urban, two suburban — where houses sold in a median of 10 days. These top the list of fastest-selling ZIP codes.
Ten ZIP codes fell out of the fastest-selling list in 2019, including Vancouver (98660), Clackamas/Gladstone (97018), Boise/Eliot/Mississippi (97227), Gresham (97030), Molalla (97038), Tualatin (97062), Hillsboro (97123), Sherwood (97140), Parkrose/Sumner (97220) and Lents (97266).
Jumping into the list for 2019 were 11 new fast-selling areas, including Piedmont/Concordia (97211), Five Corners/Homan, (98662), St. Johns (97203), Irvington/Grant Park (97212), Oak Grove/Oatfield (97267), Vancouver Heights/Marrion, (98664), Clackamas (97015), Oregon City/Happy Valley (97045), Arbor Lodge/Kenton (97217), Cedar Hills/Raleigh Hills (97225), Orchards/Livingston (98682). Click the slideshow link below to see where they rank.
SLIDESHOW: Homes sold fastest in these 31 ZIP codes
Suburban ZIP codes generally sold faster than those in urban settings, with just 12 of the 'hoods located in Portland proper among the top 31, yet they improved their showing versus 2018 when only nine ZIP codes were urban.
Last week we ranked Portland ZIP codes based on two other factors in 2019, showing the top 25 with the most homes sold and the top 25 with the highest median sale prices. Coming next will be our annual "Heat Index" of the hottest ZIP codes based on all three metrics.
Portland Business Journal is a KGW News partner.