For the Portland, Oregon metro area there were 3,240 new listings in May 2023, which is a 15.9% decrease from the 3,853 listed in May 2022, and an increase of 22.1% from the 2,653 listed in April 2023.
2,379 pending sales last month show a 23.8% decrease from the 3,122 offers accepted in May 2022, and an increase of 9.9% from the 2,164 offers accepted the previous month in April 2023.
Closed sale count of 2,008 this past May was a decrease of 31.1% from the 2,916 closings last year in May 2022, and an increase of 17.6% from the 1,707 closings last month in April 2023.
Inventory remained steady at 1.9 months in May 2023. Total market time decreased to 40 days, with the average home sale price of $618,800, and a median home sale price of $550,000.
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!