September 2023 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
July Residential Highlights
New listings (2,713) decreased 13.9% from the 3,151 listed in September 2022, and decreased 7.2% from the 2,923 listed in August 2023.
Pending sales (1,809) decreased 9.7% from the 2,003 offers accepted in September 2022, and decreased 11.9% from the 2,053 offers accepted in August 2023.
Closed sales (1,717) decreased 23.2% from the 2,237 closings in September 2022, and decreased 20.3% from the 2,155 closings in August 2023.
Inventory and Total Market Time
Inventory increased to 2.9 months in September. Total market time increased to 41 days.
Year to Date Summary
Comparing the first nine months of 2023 to the same period in 2022, new listings (24,482) decreased 20.6%, pending sales (17,376) decreased 23.2%, and closed sales (16,417) decreased 27.8%.
Average and Median Sale Prices
Comparing 2023 to 2022 through September, the average sale price has decreased 2.8% from $617,000 to $599,800. In the same comparison, the median sale price has decreased 2.7% from $550,000 to $535,000.
