January 2024 Market Action Report

Real Estate Statistics

January 2024 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

January Residential Highlights

New listings (1,941) increased 0.2% from the 1,938 listed in January 2023, and increased 89.2% from the 1,026 listed in December 2023.

Pending sales (1,492) decreased 15.8% from the 1,771 offers accepted in January 2023, and increased 14.0% from the 1,309 offers accepted in December 2023.

Closed sales (1,120) increased 2.9% from the 1,088 closings in January 2023, and decreased 15.8% from the 1,330 closings in December 2023.

Inventory and Total Market Time

Inventory increased to 3.2 months in January. Total market time increased to 68 days.

Year to Date Summary

Comparing the first month of 2024 to the same period in 2023, new listings (1,941) increased 0.2%, pending sales (1,492) decreased 15.8%, and closed sales (1,120) increased 2.9%.

Average and Median Sale Prices

Comparing 2024 to 2023 through January, the average sale price has increased 5.9% from $532,900 to $564,600. In the same comparison, the median sale price has increased 3.2% from $489,500 to $505,000.

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

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