February 2024 Market Action Report

Real Estate Statistics

February 2024 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

February Residential Highlights

New listings (2,085) increased 18.2% from the 1,764 listed in February 2023, and increased 7.4% from the 1,941 listed in January 2024.

Pending sales (1,742) increased 2.3% from the 1,703 offers accepted in February 2023, and increased 16.8% from the 1,492 offers accepted in January 2024.

Closed sales (1,284) decreased 10.5% from the 1,434 closings in February 2023, and increased 14.6% from the 1,120 closings in January 2024.

Inventory and Total Market Time

Inventory decreased to 2.8 months in February. Total market time increased to 89 days.

Year to Date Summary

Comparing the first two months of 2024 to the same period in 2023, new listings (4,042) increased 8.5%, pending sales (3,161) decreased 6.9%, and closed sales (2,433) decreased 4.1%.

Average and Median Sale Prices

Comparing 2024 to 2023 through February, the average sale price has increased 3.2% from $553,300 to $571,100. In the same comparison, the median sale price has increased 3.8% from $500,000 to $519,000.

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

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