February 2023 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
February Residential Highlights
New listings (1,764) decreased 31.4% from the 2,571 listed in February 2022, and decreased 9.0% from the 1,938 listed in January 2023.
Pending sales (1,703) decreased 30.5% from the 2,452 offers accepted in February 2022, and decreased 3.8% from the 1,771 offers accepted in January 2023.
Closed sales (1,434) decreased 26.0% from the 1,939 closings in February 2022, and increased 31.8% from the 1,088 closings in January 2023.
Inventory and Total Market Time
Inventory decreased to 1.9 months in February. Total market time increased to 71 days.
Year to Date Summary
Comparing the first two months of 2023 to the same period in 2022, new listings (3,727) decreased 24.1%, pending sales (3,396) decreased 27.3%, and closed sales (2,537) decreased 33.8%.
Average and Median Sale Prices
Comparing 2023 to 2022 through February, the average sale price has decreased 5.3% from $584,100 to $553,300. In the same comparison, the median sale price has decreased 3.7% from $519,100 to $500,000.
