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Portland Real Estate Market Update for August 2023

Portland Real Estate Market Update for August 2023
Portland Real Estate Market Update for August 2023

In August 2023, there were 2,923 new listings in Portland Metro, which is a 8.9% decrease from the 3,209 listed in August 2022, and a decrease of 0.8% from the 2,899 listed in July 2023.

2,053 pending sales last month show a 18.9% decrease from the 2,530 offers accepted in August 2022, and a decrease of 4.3% from the 2,145 offers accepted the previous month in July 2023.

Closed sale count of 2,155 this August was a decrease of 16.5% from the 2,581 closings last year in August 2022, and an increase of 12.7% from the 1,912 closings last month in July 2023.

Inventory decreased to 2.2 months in August 2023. Total market time increased to 37 days, with the average home sale price of $608,300, and a median home sale price of $536,000.

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!

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Our agents write often to give you the latest insights on owning a home or property in the Vancouver WA & Portland OR area.

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My wife and I just sold our condo on the Columbia River, after listing it with Nathan Cano at Cano Real Estate. It was on the market for only 6 weeks and we couldn’t be happier. Cano Real Estate has a team approach to selling properties, and it was obvious from the start when great pictures were taken by a member of his staff, and marketed online in a very professional manner. We were expecting our condo to take much longer to sell, but due to Nathan’s marketing approach, we attribute it sellin…
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