July 2022 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
July Residential Highlights
New listings (3,763) decreased 11.8% from the 4,267 listed in July 2021, and decreased 12.4% from the 4,295 listed in June 2022.
Pending sales (2,445) decreased 27.1% from the 3,354 offers accepted in July 2021, and decreased 4.6% from the 2,563 offers accepted in June 2022.
Closed sales (2,369) decreased 31.1% from the 3,439 closings in July 2021, and decreased 18.1% from the 2,893 closings in June 2022.
Inventory and Total Market Time
Inventory increased to 2.0 months in July. Total market time increased to 20 days.
Year to Date Summary
Comparing the first seven months of 2022 to the same period in 2021, new listings (24,375) decreased 4.9%, pending sales (18,313) decreased 15.0%, and closed sales (17,804) decreased 10.2%.
Average and Median Sale Prices
Comparing 2022 to 2021 through July, the average sale price has increased 9.4% from $567,800 to $620,900. In the same comparison, the median sale price has increased 10.0% from $500,000 to $550,000.
