June Portland Metro Area Market Highlights


Residential Highlights

New listings (4,295) decreased 0.1% from the 4,298 listed in June 2021, and increased 11.5% from the 3,853 listed in May 2022.

Pending sales (2,563) decreased 27.5% from the 3,534 offers accepted in June 2021, and decreased 17.9% from the 3,122 offers accepted in May 2022.

Closed sales (2,893) decreased 16.8% from the 3,477 closings in June 2021, and decreased 0.8% from the 2,916 closings in May 2022.

Inventory and Total Market Time 

Inventory increased to 1.4 months in June. Total market time decreased to 18 days.

 Year-To-Date Summary

Comparing the first six months of 2022 to the same period in 2021, new listings (20,546) decreased 3.2%, pending sales (16,018) decreased 12.4%, and closed sales (15,335) decreased 5.8%. 

Average and Median Sale Prices

Comparing 2022 to 2021 through June, the average sale price has increased 9.9% from $562,700 to $618,500. In the same comparison, the median sale price has increased 10.0% from $500,000 to $550,000. 

Some regions have a higher proportion of active residential listings that are not yet under construction (designated as “Proposed”), meaning there are fewer “Active” homes that are ready for an immediate move-in. 

The following summary shows the number of homes available for immediate purchase and occupancy. 

Portland Metro Market Numbers