Residential Review: Metro Portland, Oregon
December 2021
Residential Highlights
New listings (1,599) decreased 8.1% from the 1,740 listed in December 2020, and decreased 28.3% from the 2,229 listed in November 2021.
Pending sales (1,942) decreased 3.0% from the 2,003 offers accepted in December 2020, and decreased 27.0% from the 2,660 offers accepted in November 2021.
Closed sales (2,582) decreased 7.4% from the 2,789 closings in December 2020, and decreased 8.8% from the 2,832 closings in November 2021.
Inventory and Total Market Time Inventory decreased to 0.6 months in December. Total market time increased to 32 days.
Year-To-Date Summary Comparing the twelve months of 2021 to the same period in 2020, new listings (40,531) increased 5.4%, pending sales (35,405) increased 7.8%, and closed sales (35,182) increased 9.8%.
Average and Median Sale Prices Comparing 2021 to 2020 through December, the average sale price has increased 15.8% from $494,000 to $571,900. In the same comparison, the median sale price has increased 15.7% from $440,000 to $509,000.