December 2023 Market Action Report

Real Estate Statistics

December 2023 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

December Residential Highlights

New listings (1,026) decreased 4.4% from the 1,073 listed in December 2022, and decreased 43.9% from the 1,828 listed in November 2023.

Pending sales (1,309) increased 8.5% from the 1,206 offers accepted in December 2022, and decreased 9.2% from the 1,441 offers accepted in November 2023.

Closed sales (1,330) decreased 9.2% from the 1,464 closings in December 2022, and decreased 1.0% from the 1,344 closings in November 2023.

Inventory and Total Market Time

Inventory decreased to 2.7 months in December. Total market time increased to 60 days.

Year to Date Summary

Comparing the twelve months of 2023 to the same period in 2022, new listings (29,689) decreased 18.0%, pending sales (21,363) decreased 20.4%, and closed sales (20,941) decreased 25.2%.

Average and Median Sale Prices

Comparing 2023 to 2022 through December, the average sale price has decreased 2.1% from $610,900 to $598,000. In the same comparison, the median sale price has decreased 3.0% from $548,400 to $532,000.

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

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