November 2022 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
November Residential Highlights
New listings (1,666) decreased 25.3% from the 2,229 listed in November 2021, and decreased 33.7% from the 2,513 listed in October 2022.
Pending sales (1,498) decreased 43.7% from the 2,660 offers accepted in November 2021, and decreased 18.4% from the 1,835 offers accepted in October 2022.
Closed sales (1,621) decreased 42.8% from the 2,832 closings in November 2021, and decreased 17.1% from the 1,955 closings in October 2022.
Inventory and Total Market Time
Inventory increased to 2.6 months in November. Total market time increased to 44 days.
Year to Date Summary
Comparing the first eleven months of 2022 to the same period in 2021, new listings (35,093) decreased 9.7%, pending sales (25,721) decreased 23.5%, and closed sales (26,473) decreased 18.5%.
Average and Median Sale Prices
Comparing 2022 to 2021 through November, the average sale price has increased 7.4% from $571,100 to $613,300. In the same comparison, the median sale price has increased 8.1% from $508,900 to $550,000.
