For the Portland, Oregon metro area there were 2,623 new listings in March 2023, which is a 25.5% decrease from the 3,521 listed in March 2022, and an increase of 48.7% from the 1,764 listed in February 2023.
2,079 pending sales last month show a 31.7% decrease from the 3,045 offers accepted in March 2022, and an increase of 22.1% from the 1,703 offers accepted the previous month in February 2023.
Closed sale count of 1,745 this past March was a decrease of 35.0% from the 2,683 closings last year in March 2022, and an increase of 21.7% from the 1,434 closings last month in February 2023.
Inventory decreased to 1.6 months in March 2023. Total market time also decreased to 57 days, with the average home sale price of $584,500, 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!
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From home prices and inventory levels to buyer demand and emerging neighborhoods, staying informed with timely market updates is crucial for buyers, sellers, and investors navigating the dynamic Portland real estate landscape.