This month our fabulous hosts discuss the recent policy change for refreshing listings and still deliver the lowdown (and by low and down, we mean inventory) on the local real estate market. Meanwhile, our Statistical Specialist is on hand to explain some of the common statistical concepts we use.
All that and our normal RMLS updates, including our ongoing Technology Survey (which RMLS subscribers should definitely take today – only two questions!).
Listen to Real Talk with RMLS – now on Spotify.
Music: “Tropical Summer” by ArtIss (via MelodyLoops.com)
REAL TALK WITH RMLS – MARCH 2024 STATISTICAL HIGHLIGHTS
OREGON March 2024 vs February 2024
- New Listings: 4,107 (+698)
- Active Listings: 6,961 (+238)
- Pending Sales: 3,432 (+495)
- Closed Sales: 2,597 (+432)
- Inventory: 2.7 (-0.4)
- Total Market Time: 89 (+1)
- Average Sale Price: $530,900 (+$7,000)
- Median Sale Price: $476,400 (-$2,000)
OREGON March 2024 vs March 2023
- New Listings: 4,107 (-50)
- Active Listings: 6,961 (+1,410)
- Pending Sales: 3,432 (+78)
- Closed Sales: 2,597 (-308)
- Inventory: 2.7 (+0.8)
- Total Market Time: 89 (+28)
- Average Sale Price: $530,900 (+$5,700)
- Median Sale Price: $476,400 (-$1,400)
WASHINGTON March 2024 vs February 2024
- New Listings: 920 (+177)
- Active Listings: 1380 (+52)
- Pending Sales: 775 (+78)
- Closed Sales: 605 (+88)
- Inventory 2.3 (-0.3)
- Total Market Time: 98 (+21)
- Average Sale Price: $558,800 (+$23,100)
- Median Sale Price: $502,400 (+$12,600)
WASHINGTON March 2024 vs March 2023
- New Listings: 920 (+33)
- Active Listings: 1380 (+360)
- Pending Sales: 775 (+51)
- Closed Sales: 605 (-8)
- Inventory 2.3 (+0.6)
- Total Market Time: 98 (+25)
- Average Sale Price: $558,800 (+$23,300)
- Median Sale Price: $502,400 (+$12,400)
SPIKES
- Baker
- Total Market Time spiked upwards from 35 in February to 75 in March 2024
- Columbia Basin
- New Listings spiked upwards from 69 in February to 103 in March 2024
- Grant
- New Listings spiked upwards from 2 in February to 6 in March 2024
- Pending Sales spiked upwards from 1 in February to 5 in March 2024
- Average Sale Price spiked upwards from $259,900 in February to $400,400 in March 2024
- Josephine
- Median Sale Price spiked downwards from $500,000 in February to $280,000 in March 2024
- Total Market Time spiked downwards from 247 in February to 60 in March 2024
- Mid-Columbia
- New Listings spiked upwards from 59 in February 2024 to 95 in March 2024
- North Coastal
- New Listings spiked upwards from 148 in February 2024 to 219 in March 2024
STREAKS
- Polk and Marion
- Total Market Time is on a 4-month increase streak, up to 101 in March 2024
MILESTONES
- Columbia Basin
- Total Market Time at its highest point (107) since September 2018.
- Lane
- Total Market Time at its highest point (80) since April 2016.
- Portland Metro
- Total Market Time at its highest point (91) since February 2014.
- SW Washington
- Total Market Time at its highest point (103) since February 2015.
NEW GROWTH
- Portland Metro: 260 (-23)
- SW Washington: 167 (+4)
- Lane County: 16 (-7)