In May 2022, there were 3,853 new listings, which is a 3.0% decrease from the 3,971 listed in May 2021, and an increase of 4.6% from the 3,684 listed in April 2022.
3,122 pending sales last month show a 16.0% decrease from the 3,717 offers accepted in May 2021, and an increase of 3.9% from the 3,005 offers accepted the previous month in April 2022.
Closed sale count of 2,916 this May was a decrease of 8.4% from the 3,183 closings last year in May 2021, and an increase of 4.8% from the 2,782 closings last month in April 2022.
Inventory increased to 1 month in May 2022. Total market time decreased to 18 days, with the average home sale price of $649,600, and a median home sale price of $575,000.
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!