Portland Oregon Real Estate Market Report : February 2024
Portland Oregon Residential Highlights for February 2024
New Real Estate Listings in Portland, Oregon
New listings (2,085) increased 18.2% from the 1,764 listed in February 2023, and increased 7.4% from the 1,941 listed in January 2024.
Pending Sales
Pending sales (1,742) increased 2.3% from the 1,703 offers accepted in February 2023, and increased 16.8% from the 1,492 offers accepted in January 2024.
Closed Sales
Closed sales (1,284) decreased 10.5% from the 1,434 closings in February 2023, and increased 14.6% from the 1,120 closings in January 2024
Inventory and Time on Market
Inventory decreased to 2.8 months in February. Total market time increased to 89 days.
Year-to-Date Summary
Comparing the first two months of 2024 to the same period in 2023, new listings (4,042) increased 8.5%, pending sales (3,161) decreased 6.9%, and closed sales (2,433) decreased 4.1%.
Average and Median Sale Prices
Comparing 2024 to 2023 through February, the average sale price has increased 3.2% from $553,300 to $571,100. In the same comparison, the median sale price has increased 3.8% from $500,000 to $519,000.
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