August 2024 - Market Action Report - Portland, OR

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of July 2024.  Click HERE to see the full detailed report.

Home inventory* has increased up to 3.0 months of availability.

The actual median sales price is up (3.5%) since August of last year, now at $555,000 (vs. $536,000). 

August 2024 vs July 2024
New Listings are down 8.1%
Pending Sales are down 6.3%
Closed Sales are down 5.7%
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August 2024 vs August 2023
New Listings are down 8.7%
Pending Sales are the same
Closed Sales are down 9.2%

Homes are taking about 1.5 weeks longer to sell than they did in August 2023.

*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.