Trends in Oregon and Washington heading in different directions? Portland Metro’s Average Sale Price back above $600,000 or the first time since August 2022? Affordability for Portland and SW Washington in the first quarter of 2023 both indicating that $114,434 can afford 89% of a monthly mortgage payment on a median priced home?

Yes, indeed. Give us a listen to learn about all that and more — more market stats and trends, more RMLS updates (including the lowdown on our new weekly highlights infographic available to our subscribers), and more statistical bliss — in just under 10 minutes.

Listen to Real Talk with RMLS – now on Spotify!

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

REAL TALK WITH RMLS – APRIL 2023 STATISTICAL HIGHLIGHTS 

OREGON

• New Listings: 4,232 (+75)
• Active Listings: 5,962 (+411)
• Pending Sales: 3,523 (+169)
• Closed Sales: 2,728 (-177)
• Inventory 2.2 (+0.3)
• TMT: 53 (-8)
• Avg Sale Price: $543,900 (+$18,700)
• Med Sale Price: $480,000 (+$5,000)

WASHINGTON

• New Listings: 781 (-106)
• Active Listings: 995 (-25)
• Pending Sales: 752 (+28)
• Closed Sales: 579 (-34)
• Inventory 1.7 (flat)
• TMT: 47 (-26)
• Avg Sale Price: $554,800 (+$19,300)
• Med Sale Price: $495,000 (+$5,000)

 SPIKES

• Curry County
  • New Listings increased from 40 in March 2023 to 59 in April 2023
• Union County
  • Pending Sales increased from 13 in March 2023 to 28 in April 2023
  • Total Market Time increased from 50 in March 2023 to 77 in April 2023
• Wallowa
  • Total Market Time increased 4 spots in March 2023 to 109 in April 2023
  • Average Sale Price increased from $299,000 in March 2023 to $499,500 in April 2023

STREAKS

• Columbia Basin
  • New Listings are on a 4-month increase, up to 118 in April 2023
• Grant County
  • Pending Sales are on a 4-month increase, up to 10 in April 2023
• Josephine County
  • Pending Sales are on a 4-month increase, up to 8 in April 2023
• SW Washington
  • Average Sold Price Change is on a 4-month increase, up to -0.2% in April 2023
• Wallowa County
  • New Listings are on a 4-month increase, up to 11 in April 2023

 MILESTONES

• Portland Metro
  • The Average Sale Price is back above $600,000 ($606,100 in April 2023) since falling below that line in August 2022.
• North Coastal
  • The Average Sale Price is at the highest point ($593,300 in April 2023) since July 2022.

NEW GROWTH

• Portland Metro: 318 (+26)
• SW Washington 91 (-15)
• Lane County: 15 (-1)

AFFORDABILITY

• In Lane County, a family earning the median income ($89,061 in 2023, per HUD) can afford 86% of a monthly mortgage payment on a median priced home (which was $423,200 in March).
• In Portland Metro, the median income of $114,434 in 2023 can afford 89% of a monthly mortgage payment on a median priced home ($525,000 in March).
• And in SW Washington, A family earning $114,434 in 2023 can afford 89% of a monthly mortgage payment on a median priced home ($525,900 in March).

How is the March market looking in comparison to February? Which trajectories have continued rising or falling? Where are the notable statistical spikes?

Join Beth and Terry to find out! We’ve got the the highlights and analysis of the most recent available market stats along with reminders about RMLS happenings.

Subscribe to Real Talk with RMLS – now on Spotify!

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

REAL TALK WITH RMLS – MARCH 2023 STATISTICAL HIGHLIGHTS 

OREGON

• New Listings: 4,157 (+1,215)
• Active Listings: 5,551 (+150)
• Pending Sales: 3,354 (+596)
• Closed Sales: 2,905 (+590)
• Inventory 1.9 (-0.4)
• TMT: 61 (-10)
• Avg Sale Price: $525,200 (+$10,200)
• Med Sale Price: $475,000 (+$10,000)

WASHINGTON

• New Listings: 887 (+299)
• Active Listings: 1,020 (+53)
• Pending Sales: 724 (+98)
• Closed Sales: 613 (+94)
• Inventory 1.7 (-0.2)
• TMT: 73 (flat)
• Avg Sale Price: $535,500 (+$12,700)
• Med Sale Price: $490,000 (+$100)

 SPIKES

• Baker County
  • Pending Sales increase: 9 in February 2023 to 22 in March 2023
• Columbia Basin
  • Closed Sales increase: 39 in February 2023 to 73 in March 2023
• Curry County
  • New Listings increase: 25 in February 2023 to 40 in March 2023
• Lane County
  • New Listings increase: 285 in February 2023 to 400 in March 2023
• Portland Metro
  • New Listings increase: 1,764 in February 2023 to 2,623 in March 2023
• SW Washington
  • New Listings increase: 461 in February 2023 to 701 in March 2023

STREAKS

• Coos County
  • Active Count 7-month decrease: Down to 171 in March 2023
• Polk and Marion
  • Active Count 4-month decrease: Down to 355 in March 2023
• SW Washington
  • Active Count 5-month decrease streak: Down to 681 in March 2023

 RECORD BREAKERS

• Wallowa
  • Tied with February 2017 for lowest all time closed sales: At 1 in March 2023
  • Lowest all time Average Total Market Time: At 4 days in March 2023

NEW GROWTH

• Portland Metro: 292 (+27)
• SW Washington 106 (-4)
• Lane County: 16 (-13)

We welcome new cohost Terry Romel to the podcast and then dive into the February stats. Inventory took a plunge while Time on Market and Closed Sales were up. Beth and Terry give you the trends, interesting outliers, and all the RMLS updates you need.

Don’t forget to subscribe to Real Talk with RMLS on Apple Podcasts or Google Podcasts! 

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

REAL TALK WITH RMLS – FEBRUARY 2023 STATISTICAL HIGHLIGHTS 

OREGON

• New Listings: 2,942 (-189)
• Active Listings: 5,401 (-200)
• Closed Sales: 2,315 (+498)
• Inventory 2.3 (-0.8)
• TMT: 71 (+5)
• Avg Sale Price: $515,000 (+$22,700)
• Med Sale Price: $465,000 (+$24,500)

WASHINGTON

• New Listings: 582 (-91)
• Active Listings: 967 (-99)
• Closed Sales: 519 (+110)
• Inventory 1.9 (-0.7)
• TMT: 73 (+14)
• Avg Sale Price: $522,800 (-$200)
• Med Sale Price: $489,900 (+$14,900)

 SPIKES

• North Coastal
  • Closed Sales increased from 71 in January 2023 to 100 in February 2023.
• Polk and Marion
  • Total Market Time dropped down from 75 in January 2023 to 55 in February 2023.
• Portland Metro
  • Closed Sales increased from 1,088 in January 2023 to 1434 in February 2023.

STREAKS

• Columbia Basin
  • Active Listings are on 4-month downward streak, down to 189 in February 2023.
  • Closed Sales continued a 5-month decrease streak: coming in at 39 in February 2023.
• Curry
  • Closed Sales are also on a 5-month streak downward, down to 16 in February 2023.
• Douglas
  • Active Listings are on a 4-month streak down, coming in at 309 in February 2023.
• Mid-Columbia
  • Total Market Time was up for the fourth month, reaching 95 in February 2023.

 RECORD BREAKERS

• Josephine

  • Closed Sales hit an all-time low with 0 in February 2023.

NEW GROWTH

• Portland Metro: 265 (-21)
• SW Washington 110 (+11)
• Lane County: 29 (+7)