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Portland Real Estate Market Update for July 2023

Portland Real Estate Market Update for July 2023
Portland Real Estate Market Update for July 2023

In July 2023, there were 2,899 new listings, which is a 23.0% decrease from the 3,763 listed in July 2022, and a decrease of 12.1% from the 3,298 listed in June 2023.

2,145 pending sales last month show a 12.3% decrease from the 2,445 offers accepted in July 2022, and a decrease of 5.6% from the 2,272 offers accepted the previous month in June 2023.

Closed sale count of 1,912 this July was a decrease of 19.3% from the 2,369 closings last year in July 2022, and a decrease of 8.3% from the 2,085 closings last month in June 2023.

Inventory increased to 2.4 months in July 2023. Total market time decreased to 33 days, with the average home sale price of $620,400, and a median home sale price of $549,900.

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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