October 2022 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
October Residential Highlights
New listings (2,513) decreased 22.2% from the 3,232 listed in October 2021, and decreased 20.2% from the 3,151 listed in September 2022.
Pending sales (1,835) decreased 42.4% from the 3,187 offers accepted in October 2021, and decreased 8.4% from the 2,003 offers accepted in September 2022.
Closed sales (1,955) decreased 37.5% from the 3,129 closings in October 2021, and decreased 12.6% from the 2,237 closings in September 2022.
Inventory and Total Market Time
Inventory increased to 2.4 months in October. Total market time increased to 38 days.
Year to Date Summary
Comparing the first ten months of 2022 to the same period in 2021, new listings (33,383) decreased 8.7%, pending sales (24,314) decreased 21.7%, and closed sales (24,793) decreased 16.2%.
Average and Median Sale Prices
Comparing 2022 to 2021 through October, the average sale price has increased 7.8% from $570,600 to $615,000. In the same comparison, the median sale price has increased 8.6% from $506,500 to $550,000.
