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December 2022 - Market Action Report - Portland, OR

1/11/2023

Comments

 
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of December 2022.  Click on the image below to see the full detailed report.
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Home inventory* dipped back down to 2.3 months. 

The median sales price is down a bit (-0.7%) over December of last year now at $507,500. 

December 2022 vs November 2022
New Listings are down 35.6%
Pending Sales are down 19.5%
Closed Sales are down 9.7%


December 2022 vs December 2021
New Listings are down 32.9%
Pending Sales are down 37.9%
Closed Sales are down 43.3%


Homes are taking roughly 3 weeks longer to sell than they did in December of 2021.
*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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Looking Ahead to the 2023 Real Estate Market

1/1/2023

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As we start a new year, the real estate market is once again shifting. After a historic run, with home sales and prices reaching record highs, they are leveling. Mortgage interest rates continue to be affected by Federal Reserve decisions to address inflation.
 
This month we are sharing with you some well-researched statistics on how the real estate market reacted in the last half of 2022 as well as projections for 2023. Inventory is still low, but buyers now have a few more days to make their decision and may be able to ask for seller concessions. Sellers who price their homes right will be well positioned in the market. It’s also important to remember – there will always be buyers and always be sellers – no matter the market! 
 
We are also sharing with you a couple websites where you can find additional easy-to-understand information on mortgage and real estate statistics.
 
We are here to answer any questions you may have about real estate and help you through every step of your future home sale or purchase. Please feel free to reach out to us any time!
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November 2022 - Market Action Report - Portland, OR

12/12/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of November 2022.  Click on the image below to see the full detailed report.
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Home inventory* has increased to 2.6 months. 

The median sales price is UP 1.6% over November of last year now at $525,900. 

November 2022 vs October 2022
New Listings are down 33.7%
Pending Sales are down 18.4%
Closed Sales are down 17.1%


November 2022 vs November 2021
New Listings are down 25.3%
Pending Sales are down 43.7%
Closed Sales are down 42.8%


Homes are taking 17 days longer to sell than they did in  November of last year.
*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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October 2022 - Market Action Report - Portland, OR

11/11/2022

Comments

 
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of October 2022.  Click on the image below to see the full detailed report.
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Home inventory* has increased to 2.4 months. 

The median sales price is UP 4.1% over October of last year now at $537,000. 

October 2022 vs September 2022
New Listings are down 20.2%
Pending Sales are down 8.4%
Closed Sales are down 12.6%


October 2022 vs October 2021
New Listings are down 22.2%
Pending Sales are down 42.4%
Closed Sales are down 37.5%


Homes are taking 12 days longer to sell than they did in  October of last year.
*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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September 2022 - Market Action Report - Portland, OR

10/11/2022

Comments

 
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of September 2022.  Click on the image below to see the full eight page detailed report.
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Home inventory* has increased to 2.2 months. 

The median sales price is UP 7.5% over September of last year now at $548,000. 

September 2022 vs August 2022
New Listings are down 1.8%
Pending Sales are down 20.8%
Closed Sales are down 13.3%


September 2022 vs September 2021
New Listings are down 16.2%
Pending Sales are down 36.8%
Closed Sales are down 29.4%


Homes are taking 10 days longer to sell than they did in  September of last year.
*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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August 2022 - Market Action Report - Portland, OR

9/14/2022

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​Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of August 2022.  Click on the image below to see the full eight page detailed report.
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Home inventory* dipped back down to 1.8 months. 

While the median sales price dropped (3.1%) in August 2022 as compared to July 2022 at $548,400. The year-over-year MSP is UP 4.5% over August of last year from $525,000.

August 2022 vs July 2022
New Listings are down 14.7%
Pending Sales are up 3.5%
Closed Sales are up 8.9%


August 2022 vs August 2021
New Listings are down 13.2%
Pending Sales are down 28.4%
Closed Sales are down 19.8%


Homes are taking 5 more days to sell than they did in  August of last year.
*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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July 2022 - Market Action Report - Portland, OR

8/15/2022

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​Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of July 2022.  Click on the image below to see the full seven page detailed report.
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Home inventory* increased to 2.0 months. This is the most inventory in Portland since May of 2020.

While the median sales price dipped (0.7%) in July 2022 as compared to June 2022 at $566,000, the year-over-year MSP is still UP 8.4% over July of last year from $522,000.

July 2022 vs June 2022
New Listings are down 12.4%
Pending Sales are down 4.6%
Closed Sales are down 18.1%


July 2022 vs July 2021
New Listings are down 11.8%
Pending Sales are down 27.1%
Closed Sales are down 31.1%


Homes are selling at the same speed as July of last year.
*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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June 2022 - Market Action Report - Portland, OR

7/13/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of June 2022.  Click on the image below to see the full seven page detailed report.
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Home inventory* increased to 1.4 months. 

While the median sales price dipped (0.9%) in June 2022 as compared to May 2022 at $570,000, the year-over-year MSP is UP 9.4% over June of last year from $521,000.

June 2022 vs May 2022
New Listings are up 11.5%
Pending Sales are down 17.9%
Closed Sales are down 0.8%


June 2022 vs June 2021
New Listings are down 0.1% (only 3 fewer homes)
Pending Sales are down 27.5%
Closed Sales are down 16.8%


Homes are typically selling 3 days faster than June of last year.
*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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May 2022 - Market Action Report - Portland, OR

6/11/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of May 2022.  Click on the image below to see the full seven page detailed report.
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Home inventory* inched up to a full 1.0 months worth. 

The median sales price continues to rise year-over-year, UP 11.7% over May of last year: now at $575,000. 

May 2022 vs April 2022
New Listings are up 4.6%
Pending Sales are up 3.9%
Closed Sales are up 4.8%


May 2022 vs May 2021
New Listings are down 3.0%
Pending Sales are down 16.0%
Closed Sales are down 8.4%


Homes are typically selling 4 days faster than May of last year.
*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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April 2022 - Market Action Report - Portland, OR

5/12/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of April 2022.  Click on the image below to see the full seven page detailed report.
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Home inventory* continues to be extremely low at  0.8 months. 

The median sales price continues to rise year-over-year, UP 12.0% over April of last year: now at $560,000. 

April 2022 vs March 2022
New Listings are up 4.6%
Pending Sales are down 1.3%
Closed Sales are up 3.7%


April 2022 vs April 2021
New Listings are down 9.4%
Pending Sales are down 11.6%
Closed Sales are down 5.6%


Homes are typically selling 6 days faster than April of last year.
*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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  • 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 - Lambert St
    • Listing - 37th Ave
  • Home Search
  • Resources
    • Preferred Lenders
    • Business Directory
    • Client Survey
    • Super Bowl 2023
  • Blog
  • Contact Us