Portland Metro Real Estate Market Update for March 2022

In March 2022, there were 3,521 new listings, which is a 1.6% increase from the 3,465 listed in March 2021, and an increase of 37% from the 2,571 listed in February 2022.

3,045 pending sales last month show a 9% decrease from the 3,346 offers accepted in March 2021, and an increase of 24.2% from the 2,452 offers accepted the previous month in February 2022.

Closed sale count of 2,683 this March was an increase of 5% from the 2,556 closings last year in March 2021, and an increase of 38.4% from the 1,939 closings last month in February 2022.

Inventory decreased to 0.7 months in March 2022. Total market time also decreased to 25 days, with the average home sale price of $610,900, and a median home sale price of $550,000.

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!