March 2023 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
March Residential Highlights
New listings (2,623) decreased 25.5% from the 3,521 listed in March 2022, and increased 48.7% from the 1,764 listed in February 2023.
Pending sales (2,079) decreased 31.7% from the 3,045 offers accepted in March 2022, and increased 22.1% from the 1,703 offers accepted in February 2023.
Closed sales (1,745) decreased 35.0% from the 2,683 closings in March 2022, and increased 21.7% from the 1,434 closings in February 2023.
Inventory and Total Market Time
Inventory decreased to 1.6 months in March. Total market time decreased to 57 days.
Year to Date Summary
Comparing the first three months of 2023 to the same period in 2022, new listings (6,389) decreased 25.0%, pending sales (5,358) decreased 29.8%, and closed sales (4,340) decreased 33.9%.
Average and Median Sale Prices
Comparing 2023 to 2022 through March, the average sale price has decreased 4.6% from $594,200 to $567,100. In the same comparison, the median sale price has decreased 2.8% from $530,000 to $514,900.
