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!