Quick Overview
The Portland Metro real estate market for June 2024 shows a modest increase in home prices compared to previous periods. Despite a decrease in new listings and pending sales, the market remains stable with slight growth in average and median sale prices.
Key Highlights
- Average Sale Price: Up 0.9% to $603,800.
- Median Sale Price: Up 0.4% to $538,400.
- New Listings: Down 13.2% from May 2024.
- Pending Sales: Down 6.2% from May 2024.
- Closed Sales: Down 2.8% from May 2024.
- Inventory: Increased to 2.6 months.
- Total Market Time: Down to 46 days.
Year-to-Date Summary
From the first half of 2024 compared to 2023:
- New Listings: Up 3.7%.
- Pending Sales: Down 1.2%.
- Closed Sales: Up 0.6%.
- Average Sale Price: Up 2.0% to $607,800.
- Median Sale Price: Up 2.3% to $542,000.
Insights and Tips
Portland’s real estate market is steady with slight growth in home prices, making it a good time for both buyers and sellers.
For Buyers:
- Increased inventory means more choices.
For Sellers:
- Stable prices and reduced market time create a favorable selling environment.
By understanding these trends, both buyers and sellers can make informed decisions in the Portland Metro real estate market. For detailed statistics, check out the full RMLS Market Action Report.
Contact us today to discuss how we can help you meet your real estate goals.