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Portland Real Estate Market Update for November 2023

Portland Real Estate Market Update for November 2023
Portland Real Estate Market Update for November 2023

In November 2023, there were 1,828 new listings in Portland Metro, which is a 9.7% increase from the 1,666 listed in November 2022, and a decrease of 17.2% from the 2,207 listed in October 2023.

1,441 pending sales last month show a 3.8% decrease from the 1,498 offers accepted in November 2022, and a decrease of 11.3% from the 1,625 offers accepted the previous month in October 2023.

Closed sale count of 1,344 this November was a decrease of 17.1% from the 1,621 closings last year in November 2022, and a decrease of 19.5% from the 1,670 closings last month in October 2023.

Inventory increased to 3.5 months in November 2023. Total market time also increased to 55 days, with the average home sale price of $596,100, and a median home sale price of $527,600.

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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Josh Dannenmann and his recommendation to the mortgage broker made an incredible team. Josh negotiated with the selling agent for pricing and extensions getting us through many complications. My fiancé was ready to give up several times. We would never have gotten this home if it weren’t for Josh.
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