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Portland Real Estate Market Update for December 2022

Portland Real Estate Market Update for December 2022
Portland Real Estate Market Update for December 2022

In December 2022, there were 1,073 new listings, which is a 32.9% decrease from the 1,599 listed in December 2021, and a decrease of 35.6% from the 1,666 listed in November 2022.

1,206 pending sales last month show a 37.9% decrease from the 1,942 offers accepted in December 2021, and a decrease of 19.5% from the 1,498 offers accepted the previous month in November 2022.

Closed sale count of 1,464 this past December was a decrease of 43.3% from the 2,582 closings last year in December 2021, and a decrease of 9.7% from the 1,621 closings last month in November 2022.

Inventory decreased to 2.3 months in December 2022. Total market time increased to 55 days, with the average home sale price of $566,700, and a median home sale price of $507,500.

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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