February 2022 Portland Metro Market Report

Residential Highlights

New listings (2,571) increased 3.9% from the 2,474 listed in February 2021, and increased 11.4% from the 2,307 listed in January 2022. Pending sales (2,452) increased 11.1% from the 2,208 offers accepted in February 2021, and increased 7.2% from the 2,287 offers accepted in January 2022. Closed sales (1,939) decreased 2.0% from the 1,978 closings in February 2021, and increased 4.6% from the 1,853 closings in January 2022.

Inventory and Total Market Time

Inventory held steady at 0.8 months in February. Total market time decreased to 35 days. 

Year-To-Date Summary

Comparing the first two months of 2022 to the same period in 2021, new listings (4,912) decreased 3.6%, pending sales (4,670) increased 0.6%, and closed sales (3,832) decreased 1.0%.

Average and Median Sale Prices

Comparing 2022 to 2021 through February, the average sale price has increased 10.5% from $528,500 to $584,100. In the same comparison, the median sale price has increased 10.4% from $470,000 to $519,100

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