Portland Oregon Real Estate Market Report for December 2023
Portland Oregon Residential Highlights
New Real Estate Listings in Portland, Oregon
New listings (1,026) decreased 4.4% from the 1,073 listed in December 2022, and decreased 43.9% from the 1,828 listed in November 2023.
Pending Sales
Pending sales (1,309) increased 8.5% from the 1,206 offers accepted in December 2022, and decreased 9.2% from the 1,441 offers accepted in November 2023.
Closed Sales
Closed sales (1,330) decreased 9.2% from the 1,464 closings in December 2022, and decreased 1.0% from the 1,344 closings in November 2023.
Inventory and Time on Market
Inventory decreased to 2.7 months in December. Total market time increased to 60 days.
Year-to-Date Summary
Comparing the twelve months of 2023 to the same period in 2022, new listings (29,689) decreased 18.0%, pending sales (21,363) decreased 20.4%, and closed sales (20,941) decreased 25.2%.
Average and Median Sale Prices
Comparing 2023 to 2022 through December, the average sale price has decreased 2.1% from $610,900 to $598,000. In the same comparison, the median sale price has decreased 3.0% from $548,400 to $532,000.
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