In November 2022, there were 1,666 new listings, which is a 25.3% decrease from the 2,229 listed in November 2021, and a decrease of 33.7% from the 2,513 listed in October 2022.
1,498 pending sales last month show a 43.7% decrease from the 2,660 offers accepted in November 2021, and a decrease of 18.4% from the 1,835 offers accepted the previous month in October 2022.
Closed sale count of 1,621 this November was a decrease of 42.8% from the 2,832 closings last year in November 2021, and a decrease of 17.1% from the 1,955 closings last month in October 2022.
Inventory increased to 2.6 months in November 2022. Total market time increased to 44 days, with the average home sale price of $584,600, and a median home sale price of $525,900.
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!