July 2023 Market Action Report

Real Estate Statistics

July 2023 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

July Residential Highlights

New listings (2,899) decreased 23.0% from the 3,763 listed in July 2022, and decreased 12.1% from the 3,298 listed in June 2023.

Pending sales (2,145) decreased 12.3% from the 2,445 offers accepted in July 2022, and decreased 5.6% from the 2,272 offers accepted in June 2023.

Closed sales (1,912) decreased 19.3% from the 2,369 closings in July 2022, and decreased 8.3% from the 2,085 closings in June 2023.

Inventory and Total Market Time

Inventory increased to 2.4 months in July. Total market time decreased to 33 days.

Year to Date Summary

Comparing the first seven months of 2023 to the same period in 2022, new listings (18,726) decreased 23.2%, pending sales (13,787) decreased 24.7%, and closed sales (12,372) decreased 30.5%.

Average and Median Sale Prices

Comparing 2023 to 2022 through July, the average sale price has decreased 3.5% from $620,900 to $599,300. In the same comparison, the median sale price has decreased 3.2% from $550,000 to $532,500.

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

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