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Portland Real Estate Market Update for October 2023

Portland Real Estate Market Update for October 2023
Portland Real Estate Market Update for October 2023

In October 2023, there were 2,207 new listings in Portland Metro, which is a 12.2% decrease from the 2,513 listed in October 2022, and a decrease of 18.7% from the 2,713 listed in September 2023.

1,625 pending sales last month show a 11.4% decrease from the 1,835 offers accepted in October 2022, and a decrease of 10.2% from the 1,809 offers accepted the previous month in September 2023.

Closed sale count of 1,670 this October was a decrease of 14.6% from the 1,955 closings last year in October 2022, and a decrease of 2.7% from the 1,717 closings last month in September 2023.

Inventory remained at 2.9 months in October 2023. Total market time increased to 45 days, with the average home sale price down slightly to $592,700, 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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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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