Portland Real Estate Market 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 monthly Portland real estate market reports.

If you’re thinking of selling your home in the next twelve months, Stephen would love to tour your home. Call today to set an appointment.

Stephen FitzMaurice, Realtor
4% Max. to Sell a Home
Cancel Anytime Policy
Licensed Since 2003

If you’re considering buying a home in the next twelve months, Kami Price, buyers specialist would love to hear what you’re looking for. Call today to set an appointment.

Kami Price, Realtor
Represented Hundreds of Buyers
Licensed since 2004

Portland, Oregon Real Estate Market, October 2023 Report

September 22, 2023

The market has turned to favor buyers as housing inventory increases while the number of pending sales continues to decrease. The corresponding decrease in prices resulting from high supply and a lack of demand are creating ideal buying conditions that will benefit buyers until inventory begins to drop again (likely) in October. Let’s take a look at the numbers that are shaping our current real estate market conditions. Portland Home Buyer Traffic Remains Lukewarm As you can see illustrated on the RMLS buyer traffic report, buyer traffic has picked up slightly in September after a period of decline through the month of August. Levels of traffic continue to remain in the lukewarm range as they have since March with little...

Portland, Oregon Real Estate Market, September 2023 Report

August 18, 2023

Decreasing buyer activity and increasing inventory is leading to price drops, signaling the beginning of the end of the seasonal spring and summer seller’s market. Both trends will likely continue – leading to the favorable buying conditions of more available homes and less competition – throughout September, until inventory typically starts to drop again in October (often a short second second wind in the market before the major holidays hit). Let’s get into the current Portland real estate market numbers. Portland Home Buyer Traffic is Lukewarm As you can see from these the weekly RMLS buyer traffic report above, buyer activity has remained somewhat steady (but lukewarm) this summer and is likely to drop further as summer ends. We created the...

Portland, Oregon Real Estate Market, August 2023 Report

July 24, 2023

June’s balanced market led to growing inventory and a decline in buyer activity in July, creating the conditions that will lead to a buyer’s market as soon as mid-August, but likely in September. A relatively reasonable rate of housing inventory and a decent amount of buyers means sellers can still enjoy the last lingering effects of the spring market – which is reliably the most active selling season of the year. We expect inventory to continue climbing in August and September as the number of active buyers continues to decrease, shifting the market to favor home buyers as fall approaches. Portland Home Buyer Traffic is Down from Spring, but Steady this Summer In the two buyer traffic reports generated by...

Portland, Oregon Real Estate Market, July 2023 Report

June 16, 2023

After the seasonal selling peak in May, inventory continues to increase in June, leading to an increase of days on the market. We are currently experiencing a more balanced market, with slowing buyer activity, rising (but still low) inventory – conditions that can still benefit buyers and sellers. Looking ahead to July, we expect a continued increase in inventory, perhaps a relatively stable buyer’s pool, and a turn toward a buyer’s market before we hit late summer or perhaps by this fall. Buyer Traffic has Declined from a May Peak RMLS generates the buyer traffic reports shown above, which provide a snapshot of buyer demand from one week to the next. Here you see reports for two weeks in May where...

Portland, Oregon Real Estate Market, June 2023 Report

May 26, 2023

The spring housing market likely hit its final peak in May as buyer traffic grew and inventory remained low. June will likely be a slightly slower month than May as inventory starts to climb. So far this year is staying within normal season cycles where the spring is the best time to sell and the fall is the best time to buy. June will still be a good month to sell, just not as strong for sellers as May. Housing Inventory is Low while Buyer Traffic is High Traffic from our last report was hovering in the 19,000 a week range, and has since increased to the 20,000 range in May. Buyer Traffic has Warmed up Above are weekly buyer...

Portland Real Estate Market, May 2023 Report

April 14, 2023

While spring warms the earth around us and nature responds with new growth, the housing market is also warming up with activity. Buyers and sellers are more motivated, and inventory is currently increasing as selling conditions become more desirable with a steady stream of new homebuyers entering the market. Housing Inventory and Buyer Traffic is Rising As expected, inventory is currently increasing as the market warms up to receive the influx of new buyers typically motivated by the advent of Spring. Right now we’re seeing a relatively low supply of homes compared to buyer demand resulting in slightly increased prices, and the current levels of each suggest that rising prices will continue for a short while at least (until inventory...

Portland Real Estate Market, April 2023 Report

March 24, 2023

As we move into April 2023 after a period of market stabilization, we can anticipate that the Portland housing market will start to warm up as more new homes are listed and buyers become more active. Inventory has been declining since the start of the year and home sales have been rising to meet the supply, and with the market reinvigoration that comes with Spring, we can reasonably expect sales to continue in an upward trajectory. Portland Inventory Has Likely Bottomed-Out and Will Rise in April We are currently positioned on the brink of a wave of new home listings typical of the Spring housing market, so inventory should start climbing as well. But despite an increase in inventory, if...

Portland Real Estate Market, March 2023 Report

February 24, 2023

As we enter March 2023, the real estate market in Portland, Oregon is continuing to stabilize after a difficult fall season for sellers, when inventory far exceeded the number of available buyers – who were dropping out due to the pressure of high mortgage rates. Inventory is on the decline and home sales are starting to outpace supply, setting us up for a strong (but temporary) seller’s market. The market remains cooler than at this time last year, with new listings and both pending and closed sales at considerably lower numbers than in 2022. The effect of the holidays on the Portland real estate market every year is that it eliminates excess inventory, preparing the market for a productive spring....

Pittock Mansion portland real estate

Portland Real Estate Market, February 2023

January 20, 2023

As we head into February 2023, we’re seeing the stabilization of a falling real estate market in Portland, Oregon. Fall 2022 was brutal for home sellers as inventory far exceeded the number of available buyers (due to so many dropping out with the higher rates). As we moved to the end of 2022, there were less sellers than normal listing their home on the market, and while some homes sold others cancelled entirely. The holidays have a wonderful effect on the Portland real estate market every year. The season wipes out excess inventory and sets up the market for a good spring. The reason why spring is typically always the best time of the year to sell a home is...

portland real estate winter

Portland Real Estate Market, January 2023

December 26, 2022

As we enter the new year, the most significant trend we’re seeing in the Portland real estate market is a marked slowdown in both home buying and new listings for sale. This is expected at this time of year when potential buyers and sellers are channeling their energy into holiday preparations and moving plans are typically put on hold. Check out the statistics that are shaping our current real estate market. Inventory is Dropping as Expected The number of homes on the market has continued to decline sharply since October, following its usual trend of tapering off as we approach the holidays. At the same time, inventory remains higher than it has been over the past two years. Lower inventory...