In December 2023, there were 1,026 new listings in Portland Metro, which is a 4.4% decrease from the 1,073 listed in December 2022, and a decrease of 43.9% from the 1,828 listed in November 2023.
1,309 pending sales last month show a 8.5% increase from the 1,206 offers accepted in December 2022, and a decrease of 9.2% from the 1,441 offers accepted the previous month in November 2023.
Closed sale count of 1,330 this December was a decrease of 9.2% from the 1,464 closings last year in December 2022, and a decrease of 1.0% from the 1,344 closings last month in November 2023.
Inventory decreased to 2.7 months in December 2023. Total market time increased to 60 days, with the average home sale price of $586,800, and a median home sale price of $525,000.
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!