In October 2022, there were 2,513 new listings, which is a 22.2% decrease from the 3,232 listed in October 2021, and a decrease of 20.2% from the 3,151 listed in September 2022.
1,835 pending sales last month show a 42.4% decrease from the 3,187 offers accepted in October 2021, and a decrease of 8.4% from the 2,003 offers accepted the previous month in September 2022.
Closed sale count of 1,955 this October was a decrease of 37.5% from the 3,129 closings last year in October 2021, and a decrease of 12.6% from the 2,237 closings last month in September 2022.
Inventory increased to 2.4 months in October 2022. Total market time increased to 38 days, with the average home sale price of $592,000, and a median home sale price of $537,000.
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!