March 2024 Market Action Report

Real Estate Statistics

March 2024 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

March Residential Highlights

New listings (2,425) decreased 7.5% from the 2,623 listed in March 2023, and increased 16.3% from the 2,085 listed in February 2024.

Pending sales (2,138) increased 2.8% from the 2,079 offers accepted in March 2023, and increased 22.7% from the 1,742 offers accepted in February 2024.

Closed sales (1,578) decreased 9.6% from the 1,745 closings in March 2023, and increased 22.9% from the 1,284 closings in February 2024.

Inventory and Total Market Time

Inventory decreased to 2.3 months in March. Total market time increased to 91 days.

Year to Date Summary

Comparing the first three months of 2024 to the same period in 2023, new listings (6,513) increased 1.9%, pending sales (5,189) decreased 3.2%, and closed sales (4,076) decreased 6.1%.

Average and Median Sale Prices

Comparing 2024 to 2023 through March, the average sale price has increased 2.1% from $567,100 to $578,800. In the same comparison, the median sale price has increased 2.0% from $514,900 to $525,000.

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

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