In July 2022, there were 3,763 new listings, which is an 11.8% decrease from the 4,267 listed in July 2021, and a decrease of 12.4% from the 4,295 listed in June 2022.
2,445 pending sales last month show a 27.1% decrease from the 3,354 offers accepted in July 2021, and a decrease of 4.6% from the 2,563 offers accepted the previous month in June 2022.
Closed sale count of 2,369 this July was a decrease of 31.1% from the 3,439 closings last year in July 2021, and a decrease of 18.1% from the 2,893 closings last month in June 2022.
Inventory increased to 2.0 months in July 2022. Total market time also increased to 20 days, with the average home sale price of $635,700, and a median home sale price of $566,000.
For more information about what this market update means for you and your plans to buy or sell a home in the Portland Metro area, contact our team today!