Portland Oregon Real Estate Market Report: May 2024
Portland Oregon Residential Highlights
New Real Estate Listings
New listings (3,508) increased 8.3% from the 3,240 listed in May 2023, and increased 12.4% from the 3,120 listed in April 2024.
Pending Sales
Pending sales (2,363) decreased 0.7% from the 2,379 offers accepted in May 2023, and increased 2.2% from the 2,313 offers accepted in April 2024.
Closed Sales
Closed sales (2,140) increased 6.6% from the 2,008 closings in May 2023, and increased 13.6% from the 1,883 closings in April 2024.
Inventory and Time on the Market
Inventory decreased to 2.3 months in May. Total market time increased to 86 days.
Average and Median Sale Prices
Comparing 2024 to 2023 through May, the average sale price has increased 2.2% from $588,200 to $601,200. Inthe same comparison, the median sale price has increased 1.9% from $525,000 to $535,000.
