Which way did the October market trend? Were consumers homeward bound or did market transactions seemed poised to fall apart like a house of cards?

Listen to our latest podcast which delivers an essential market overview in just 10 minutes.

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Music: “Tropical Summer” by ArtIss (via MelodyLoops.com)

 

REAL TALK WITH RMLS – OCTOBER 2022 STATISTICAL HIGHLIGHTS 

OREGON

  • New Listings: 4,010 (-893)
  • Active Listings: 8,238 (-133)
  • Closed Sales: 3,235 (-507)
  • Inventory 2.5 (+0.3)
  • TMT: 39 (+2)
  • Avg Sale Price: $533,300 (-$11,200)
  • Med Sale Price: $485,000 (-$10,000)

WASHINGTON

  • New Listings: 807 (-131)
  • Active Listings: 1,687 (-24)
  • Closed Sales: 672 (-155)
  • Inventory 2.5 (+0.4)
  • TMT: 44 (+7)
  • Avg Sale Price: $535,600 (-$10,800)
  • Med Sale Price: $499,900 (+$900)

SPIKES

  • Columbia Basin
    • New Listings drop 42 spots to 79 total in October
  • Mid-Columbia
    • The Average Sales Price dropped $47,800 from the previous month, coming in at $457,200.

STREAKS

  • Columbia Basin
    • Ninth month of increased Active listings: Up to 243 in Oct.
  • Lane County
    • New listings are on a four-month downward streak, down to 357.
    • Total Market Time is up for the fourth straight month, coming in at 34.
  • Polk & Marion
    • Active listings have been up for eight months, totaling 572 in October.
  • Portland Metro
    • Total Market Time is up for the fourth month, reaching 38.
  • SW Washington
    • New listings are down for the fourth month, hitting 636 in October.

MILESTONES

  • Polk & Marion
    • Pending Sales were at 190, the lowest point since December 2021.
  • Portland Metro
    • Pending Sales were at 1835, the lowest since December 2019.
    • Total Market Time (38) is the highest since January 2022.
  • SW Washington
    • New listings hit their lowest since December 2021, coming in at 636.
    • Pending Sales were the lowest since December 2013. 490 total.
    • Closed Sales were the lowest (536) since January 2022.
    • Total Market Time at the highest point (43) since October 2020.

NEW GROWTH

  • Portland Metro: 315 (-34)
  • SW Washington 121 (-1)
  • Lane County: 30 (+11)

AFFORDABILITY

  • Portland Metro: 83%
  • SW Washington 87%
  • Lane County: 79%