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Portland Real Estate Market Update for February 2023

Portland Real Estate Market Update for February 2023
Portland Real Estate Market Update for February 2023

For the Portland, Oregon metro area there were 1,764 new listings in February 2023, which is a 31.4% decrease from the 2,571 listed in February 2022, and a decrease of 9.0% from the 1,938 listed in January 2023.

1,703 pending sales last month show a 30.5% decrease from the 2,452 offers accepted in February 2022, and a decrease of 3.8% from the 1,771 offers accepted the previous month in January 2023.

Closed sale count of 1,434 this past February was a decrease of 26.0% from the 1,939 closings last year in February 2022, and an increase of 31.8% from the 1,088 closings last month in January 2023.

Inventory decreased to 1.9 months in February 2023. Total market time increased to 71 days, with the average home sale price of $569,200, and a median home sale price of $512,900.

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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