Portland Metro Market Action Report - March 2022

Residential Highlights

New listings (3,521) increased 1.6% from the 3,465 listed in March 2021, and increased 37.0% from the 2,571 listed in February 2022. Pending sales (3,045) decreased 9.0% from the 3,346 offers accepted in March 2021, and increased 24.2% from the 2,452 offers accepted in February 2022. Closed sales (2,683) increased 5.0% from the 2,556 closings in March 2021, and increased 38.4% from the 1,939 closings in February 2022.

Inventory and Total Market Time

Inventory decreased to 0.7 months in March. Total market time decreased to 25 days. 

Year-To-Date Summary

Comparing the first three months of 2022 to the same period in 2021, new listings (8,519) decreased 1.3%, pending sales (7,635) decreased 3.7%, and closed sales (6,568) increased 1.2%. 

Average and Median Sale Prices

Comparing 2022 to 2021 through March, the average sale price has increased 10.4% from $538,200 to $594,200. In the same comparison, the median sale price has increased 11.1% from $477,000 to $530,000

If you want to learn more about the stats in your area or if you want to know how you can purchase your next home, sell your current home don’t hesitate to contact me for advice. My services will always be available to you.