December 2022 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
December Residential Highlights
New listings (1,073) decreased 32.9% from the 1,599 listed in December 2021, and decreased 35.6% from the 1,666 listed in November 2022.
Pending sales (1,206) decreased 37.9% from the 1,942 offers accepted in December 2021, and decreased 19.5% from the 1,498 offers accepted in November 2022.
Closed sales (1,464) decreased 43.3% from the 2,582 closings in December 2021, and decreased 9.7% from the 1,621 closings in November 2022.
Inventory and Total Market Time
Inventory decreased to 2.3 months in December. Total market time increased to 55 days.
Year to Date Summary
Comparing the twelve months of 2022 to the same period in 2021, new listings (36,210) decreased 10.7%, pending sales (26,852) decreased 24.2%, and closed sales (27,985) decreased 20.5%.
Average and Median Sale Prices
Comparing 2022 to 2021 through December, the average sale price has increased 6.8% from $571,900 to $610,900. In the same comparison, the median sale price has increased 7.7% from $509,000 to $548,400.
