Comps Don’t Win Homes—Desire Does: What Portland Buyers Need to Know in a Competitive Market
Let’s be real: Portland’s housing market is competitive. If you’ve fallen in love with a home recently, only to get outbid, you’re not alone. One of the biggest patterns we’re seeing right now? Buyers leaning heavily on comps (comparable sales) when writing their offers—and then losing out because they’re not reading the room.
So let’s talk about it. Because in this market, it’s not always about what the house should sell for—it’s about how badly you want it, and what you’re willing to do to win it.
The Problem with Relying Too Much on Comps
Comps are important, make no mistake. They’re a valuable guide for understanding what similar homes in the area have recently sold for. But here’s the catch: comps reflect the past.
In a market like Portland—where demand still outweighs supply in many neighborhoods—what a house sold for last month doesn’t always reflect what a similar house will go for today, especially in a multiple-offer situation.
The result? Some buyers make well-researched, “justified” offers that feel safe and smart—only to be blown out of the water by someone who offered $20k over asking with strong terms.
Barbara Corcoran Says It Best
The legendary real estate mogul Barbara Corcoran put it bluntly:
“You don’t buy a house based on comps, you buy it based on how bad you want it.”
And she’s right. The emotional piece matters. The reality is, in a bidding war, sellers don’t care what the spreadsheet says—they care about who is going to show up and close the deal with the best terms and strongest offer. That means price and everything else (think: earnest money, inspection terms, closing timelines, and more).
So… What Should Portland Buyers Do Differently?
If you really want that dream home in Raleigh Hills, Multnomah Village or West Slope, here’s what we recommend:
1. Know When to Go All In
If it’s the one, it’s time to play to win. That might mean offering over asking—even if the comps don’t totally support it on paper. Remember: value is subjective, and the winning offer is the one that meets the seller’s needs best.
2. Get Clear on Your Walk-Away Price
Know your limit before you write the offer. That way, if someone outbids you, you can walk away without regrets. But if you're in love with the house, be honest with yourself: is $10K more really a dealbreaker if it secures the home you want for the next 10+ years?
3. Work With an Agent Who Knows the Game
Your agent should be reading more than just the MLS. They should be connected, strategic, and creative—able to guide you in structuring an offer that stands out beyond just price. That’s where we come in.
Bottom Line
Portland homebuyers: if you’re tired of losing out on homes, it might be time to rethink your approach. Comps are a helpful tool—but in this market, desire, preparation, and boldness often seal the deal.
If you find a home you love, don’t hold back. Let’s talk strategy, run the numbers, and go in strong.
Thinking about buying soon? Let’s chat about how to make your offer the one that gets the “yes.”
