November 2023 Market Action Report

Real Estate Statistics

November 2023 Market Action Report

RMLS Market Action Report – Portland Real Estate Statistics

November Residential Highlights

New listings (1,828) increased 9.7% from the 1,666 listed in November 2022, and decreased 17.2% from the 2,207 listed in October 2023.

Pending sales (1,441) decreased 3.8% from the 1,498 offers accepted in November 2022, and decreased 11.3% from the 1,625 offers accepted in October 2023.

Closed sales (1,344) decreased 17.1% from the 1,621 closings in November 2022, and decreased 19.5% from the 1,670 closings in October 2023.

Inventory and Total Market Time

Inventory increased to 3.5 months in November. Total market time increased to 55 days.

Year to Date Summary

Comparing the first eleven months of 2023 to the same period in 2022, new listings (28,620) decreased 18.4%, pending sales (20,167) decreased 21.6%, and closed sales (19,538) decreased 26.2%.

Average and Median Sale Prices

Comparing 2023 to 2022 through November, the average sale price has decreased 2.4% from $613,300 to $598,800. In the same comparison, the median sale price has decreased 3.1% from $550,000 to $533,000.

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

AUTHOR

SUBSCRIBE

Join our E-Newsletter

CATEGORIES

TAGS