In February 2024, there were 2,085 new listings in Portland Metro, which is an 18.2% increase from the 1,764 listed in February 2023, and an increase of 7.4% from the 1,941 listed in January 2024.
1,742 pending sales last month show a 2.3% increase from the 1,703 offers accepted in February 2023, and an increase of 16.8% from the 1,492 offers accepted the previous month in January 2024.
Closed sale count of 1,284 this February was a decrease of 10.5% from the 1,434 closings last year in February 2023, and an increase of 14.6% from the 1,120 closings last month in January 2024.
Inventory decreased to 2.8 months in February 2024. Total market time increased to 89 days, with the average home sale price of $576,900, and a median home sale price of $530,000.
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!