2022 Portland Real Estate Monthly Reports

Stephen FitzMaurice, Realtor licensed since 2003 writes monthly reports on the greater Portland real estate market, including forecasts and major events. This is the collection of the 2022 Portland market reports.

4% Max. to Sell a Home in Portland, SW Washington
Over 2,000 Homes Sold
Cancel Anytime Policy

Portland Real Estate Market Update August, 2022

July 22, 2022

Now that we’re into summer, a time when real estate sales typically increase, the biggest news is that we’re starting to see the slow turn toward inventory exceeding buyer traffic that we wrote about in July, 2022. With significant decreases in both pending sales (-27.5%) and closed sales (-16.8%) across the city, and inventory increasing 11.5% in the past month, this is the long-awaited shift from a scorching hot sellers market. All said, though, we would typically expect to see an inventory increase this time of year. The notable difference is the decrease in sales across the board. Portland Metro Home Prices Continue to Increase While Sales Decrease The general consensus in the real estate world is that prices will...

portland housing market

Portland Real Estate Market Update, July 2022

June 20, 2022

As we move into summer, we’re looking at how the real estate market is shaping up in Portland. Rising interest rates have cooled off a red hot sellers market, and comparing May 21 with May 22, 16% less homes went pending and closed sales dropped 8.4%. However, inventory remains low along with average market time, and despite a higher number of active price drops, home prices continue to climb (for now). We looked at the entire Portland metro area and Portland proper, then focused in on each quadrant. Here’s what we found. Overall Home Prices Continue to Climb For the entire Portland Metro area, the market this past month saw 3,853 new listings, 2,916 closed sales with an average sale...

rising real estate home prices

How Long Will Housing Prices Rise Nationally?

May 30, 2022

Big questions still loom large in the world of real estate, one of which is: “How long will housing prices rise?” While none of us has a crystal ball, we can look to recent past trends and what experts are saying to arrive at a well-informed answer. Here’s what we know. Will the Current Seller’s Market Still Hold in 2022? The hot, record-setting competitive year we saw in real estate in 2021 has maintained a strong seller’s market. The primary reason for this was the number of potential buyers outpacing inventory, which led to rapid price increases and even bidding wars in some areas. While this dynamic is expected to stay throughout 2022, higher mortgage rates will slow down the...

portland real estate market

Portland Real Estate Market Update, June 2022

May 13, 2022

We’ve all been waiting and wondering what it will take to shift the real estate market in Portland after two years of an unprecedented sellers market. Prices have continued to rise at record rates with inventory remaining low. While it is obvious this state of affairs isn’t sustainable, when the shift would happen and what would cause it have been big question marks for everyone. Interest Rate Hikes are Now, and Will Continue to Slow the Market How do I know that the interest rate hikes are causing a slowdown? We look at weekly buyer traffic reports. Typically from March to May home buyer traffic (visiting homes for sale to purchase them) increases and peaks in May. In 2022, home...

portland real estate market

Portland Real Estate Market, May 2022 Report – A Wild Ride

April 20, 2022

We live in interesting times. The Portland real estate market was scorching hot in the first quart of 2022 with no end in sight for skyrocketing home prices and crazy bidding wars. But mortgage interest rates are rising incredibly fast and in April we started to see the first slowdowns in the market. (Typically April is always hotter than March in Portland real estate, but probably not this year.) Buyer Traffic is Dropping in Response to Rising Interest Rates The above is for all Oregon homes listed in our local MLS, RMLS that is centered in Portland, Oregon. Buyer traffic typically never drops in April. Inventory will Remain Low through Spring and Summer There simply has been almost no inventory...

portland real estate market 2022

Top 5 Real Estate Market News Stories of 2022 so Far

April 8, 2022

We keep track of what’s going on in the world of real estate, both near and far. We wanted to see how it all looks now that we’re about to move into the second quarter of the year. We get that times are strange in real estate right now, but it’s a great time to buy, considering what’s likely coming down the pike. While price increases and low inventory are not news, there’s plenty more going on that’s worth your attention. Especially if you’re thinking of selling or buying in 2022. 1. The Fed’s Rate Hikes Will Affect Real Estate The Federal Reserve just approved a 0.25 percentage point interest rate hike, the first since December 2018, with six more...

Portland Real Estate Market Report – March 2022

March 16, 2022

As we move into the spring Portland real estate market, we’re looking at the numbers to see what’s happening. Last month, we reported that experts are predicting a “brutal” spring market, and from what we’re seeing, they’re right. As always, we look to RMLS and Fidelity National Title for our data, and we’re reporting what we found here mixed in with our own experiences on the ground. Real Estate Prices Are on the Rise in Portland We checked the activity in Portland’s four quadrants and found that most of the activity, in terms of closed sales, happened in SE and West Portland. Some of the highest price increases in the past year also occurred in these areas, at 12.0% and...

Portland Real Estate Market Update – February 2022

February 18, 2022

Not that we’re into the second month of 2022, we’re taking a look at the real estate market in Portland to see how stacks up against the past year, 2021, and month, Dec. to Jan. 2022, and what it might mean moving forward. Fortune predicts that the upcoming national spring market will be “brutal,” compared to last year’s spring market, which they describe as “the fiercest in history,” all created by rapidly rising real estate prices and record-low inventories. They point out that the 19.1% increase between October 2020 and October 2021 is not sustainable. Something has to give at some point. Will 2022 be the year the Portland real estate market start to change? See our 2022 Portland real...

Portland Real Estate Market Home Prices – 2022 Report

February 11, 2022

As we enter spring 2022, we thought we’d take stock of Portland real estate market prices to see where things stand and maybe get a clue about what they might mean for the market moving forward. We took a look at each quadrant of the city and checked the last monthly average sales prices, year-to-date average sales prices, recent closed sales, year-to-date closed sales, average days on the market, and price increases. Before we get to those numbers, though, here’s a look at Portland’s overall real-time market profile as of the writing of this article. From this chart, we can see the continued decrease in inventory and the continued increase in prices, along with other telling information. Normal seasonal trends...

portland real estate market

Portland Real Estate Market Update – January 2022

January 24, 2022

As we move into a new year, we’re looking at real estate trends in Portland to see where we stand and where we might be headed. Let’s take a look and see what’s happening right now. Is it a Buyer’s or a Seller’s Real Estate Market in Portland? Anyone who watches real estate market trends knows that everything tends to cool down in the fall and winter. While there have been subtle ups and down in buying throughout 2021, we’re still seeing rising home prices and a dip in inventory, all of which make it a strong seller’s market heading into 2022. We recently published our 2022 Portland real estate market forecast based on turn of the year numbers. According...