August 2022 Market Action Report

Real Estate Statistics

August 2022 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

August Residential Highlights

New listings (3,209) decreased 13.2% from the 3,698 listed in August 2021, and decreased 14.7% from the 3,763 listed in July 2022.

Pending sales (2,530) decreased 28.4% from the 3,535 offers accepted in August 2021, and increased 3.5% from the 2,445 offers accepted in July 2022.

Closed sales (2,581) decreased 19.8% from the 3,219 closings in August 2021, and increased 8.9% from the 2,369 closings in July 2022.

Inventory and Total Market Time

Inventory decreased to 1.8 months in August. Total market time increased to 28 days.

Year to Date Summary

Comparing the first eight months of 2022 to the same period in 2021, new listings (27,629) decreased 6.0%, pending sales (20,730) decreased 16.9%, and closed sales (20,434) decreased 11.7%.

Average and Median Sale Prices

Comparing 2022 to 2021 through August, the average sale price has increased 8.6% from $570,100 to $619,200. In the same comparison, the median sale price has increased 8.9% from $505,000 to $550,000.

Read all of the latest Portland real estate market statistics in this month’s RMLS Market Action Report.

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