Portland Oregon Real Estate Market Report : March 2024
Portland Oregon Residential Highlights
New Real Estate Listings
New listings (2,425) decreased 7.5% from the 2,623 listed in March 2023, and increased 16.3% from the 2,085 listed in February 2024.
Pending Sales
Pending sales (2,138) increased 2.8% from the 2,079 offers accepted in March 2023, and increased 22.7% from the 1,742 offers accepted in February 2024.
Closed Sales
Closed sales (1,578) decreased 9.6% from the 1,745 closings in March 2023, and increased 22.9% from the 1,284 closings in February 2024.
Inventory and Time on Market
Inventory decreased to 2.3 months in March.
Total market time increased to 91 days.
Year-to-Date Summary
Comparing the first three months of 2024 to the same period in 2023, new listings (6,513) increased 1.9%, pending sales (5,189) decreased 3.2%, and closed sales (4,076) decreased 6.1%.
Average and Median Sale Prices
Comparing 2024 to 2023 through March, the average sale price has increased 2.1% from $567,100 to $578,800. In the same comparison, the median sale price has increased 2.0% from $514,900 to $525,000.
