Few stale real estate listings in Portland area, report says

Portland-area homes continue to sell quickly relative to the rest of country, according to a new report that puts the Portland real estate market among the nation’s fastest-moving.

Real estate website Trulia looked at how many homes that were listed in mid-February remain on the market today. It found about half have lasted the two-month period.

In the same period a year ago, 55 percent of area homes were still on the market after two months. (And since last year, Trulia says, the average list price for metro homes has gone up 12 percent.)

That makes Portland the 18th fastest-moving market among the nation’s 100 biggest metros. The fastest, Oakland, Calif., saw only 29 percent of listings were still on the market after two months. In the slowest, Richmond, Va., 72 percent of houses lasted the two months.

The highest-priced homes are most likely to spend a longer time on the market, while the lowest-priced homes are more likely to be sold quickly. The lowest priced tier has seen the most competition, thanks in part to competition between first-time homebuyers and investors.