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February 2023 - Market Action Report - Portland, OR

3/17/2023

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of February 2023.  Click on the image below to see the full detailed report.
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Home inventory* dropped back to only 1.9 months. 

The median sales price is down (-2.3%) over February of  last year now at $512,900. 

February 2023 vs January 2023
New Listings are down 9.0%
Pending Sales are down 3.8%
Closed Sales are up 31.8%


February 2023 vs February 2022
New Listings are down 31.4%
Pending Sales are down 30.5%
Closed Sales are down 26.0%


Homes are taking about 5 weeks longer to sell than they did in February 2022.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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The Hottest Design Trends for 2023

3/15/2023

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In this month’s report, we are sharing with you highlights of some of the hottest home design trends experts are seeing this year. We also offer information on the ways some homeowners are incorporating color and natural materials to create a warm and relaxed luxe environment in their home. 
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Incorporate Color Into Your Home

3/1/2023

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Happy Spring! As we get ready for this new season, you may be thinking about making some changes to your home décor. Adding color can be a simple and impactful way to do that.
 
I have enclosed information on five of the newest colors forecast by paint companies to be the hottest choices in 2023. They include deep, saturated colors borrowed from nature as well as a pretty, creamy white neutral. Additionally, Pantone has chosen a bold color from the crimson red family, Viva Magenta, as their choice for 2023. While that may not be something you decide to choose for a major project, it may be fun to use splashes of this vibrant color in accent pieces. 
 
Choosing a new color can be a bit overwhelming, so we have provided some great hacks you can use to try out different choices. It’s an inexpensive way to let you try out as many options as you like. 
 
Don’t hesitate to call us with your questions on the current state of the real estate market! We're honored to share more market updates and serve all of your buying and selling needs. Please feel free to reach out to us any time!
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  • Home
  • About Us
    • Mission Statement
    • Rick McDowell
    • Jimmy McDowell
    • Becky Shaw
    • Client Testimonials
  • Sellers
    • What's My Home Worth?
    • Selling a Home in an Estate
  • Buyers
    • Preferred Lenders
  • Our Listings
    • LISTING - 153RD AVE
    • LISTING - LARIAT CT
  • Home Search
  • Resources
    • Preferred Lenders
    • Business Directory
    • Client Survey
    • March Madness 2023
    • Farmington Gardens 2023
  • Blog
  • Contact Us