Argay Terrace’s rolling three-month data shows mixed price trends compared with a year ago, with typical home values down a bit even as list prices have risen. The typical home value is about $522,500, roughly 5% lower year over year, while the median list price is up more than 12%. Compared with the wider Portland market, Argay Terrace’s typical sale price is slightly higher than the city median.
Conditions on the ground point to a clear seller’s market. Months of supply is just 1.9, up about a third from last year but still well below Portland’s 3.1 months of supply, signaling relatively tight inventory in the neighborhood. New listings have fallen sharply, down about a third from a year ago, yet homes sold and pending sales have both edged up slightly, indicating that demand has kept pace despite fewer options.
Homes are also moving more quickly and with stronger pricing power than they did a year ago. The median days on market is 22, dramatically faster than last year’s pace, and over 36% of recent sales closed above the list price, up notably year over year. With an average sale-to-list ratio just under 100%, sellers are generally achieving close to their asking prices. Buyers and sellers who want to navigate these shifting dynamics in Argay Terrace can turn to Agent Pronto to connect with a local agent who understands this specific market.
