May 2022 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
May Residential Highlights
New listings (3,853) decreased 3.0% from the 3,971 listed in May 2021, and increased 4.6% from the 3,684 listed in April 2022.
Pending sales (3,122) decreased 16.0% from the 3,717 offers accepted in May 2021, and increased 3.9% from the 3,005 offers accepted in April 2022.
Closed sales (2,916) decreased 8.4% from the 3,183 closings in May 2021, and increased 4.8% from the 2,782 closings in April 2022.
Inventory and Total Market Time
Inventory increased to 1.0 months in May. Total market time decreased to 18 days.
Year to Date Summary
Comparing the first five months of 2022 to the same period in 2021, new listings (16,205) decreased 3.8%, pending sales (13,588) decreased 8.6%, and closed sales (12,381) decreased 2.8%.
Average and Median Sale Prices
Comparing 2022 to 2021 through May, the average sale price has increased 11.2% from $553,500 to $615,600. In the same comparison, the median sale price has increased 12.0% from $490,200 to $549,000.
