April 2023 Market Action Statistics (Real Talk with RMLS, Episode 70)
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).
