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Portland Real Estate Market Update for January 2024

Portland Real Estate Market Update for January 2024
Portland Real Estate Market Update for January 2024

In January 2024, there were 1,941 new listings in Portland Metro, which is a 0.2% increase from the 1,938 listed in January 2023, and an increase of 89.2% from the 1,026 listed in December 2023.

1,492 pending sales last month show a 15.8% decrease from the 1,771 offers accepted in January 2023, and an increase of 14.0% from the 1,309 offers accepted the previous month in December 2023.

Closed sale count of 1,120 this January was an increase of 2.9% from the 1,088 closings last year in January 2023, and a decrease of 15.8% from the 1,330 closings last month in December 2023.

Inventory increased to 3.2 months in January 2024. Total market time also increased to 68 days, with the average home sale price of $564,600, and a median home sale price of $505,000.

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!

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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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