Your Local Market Report

Portland, OR 97233

REPORT FOR 6/22/2023

Single-Family Homes

This week the median list price for Portland, OR 97233 is $440,000 with the market action index hovering around 76. This is less than last month's market action index of 79 Inventory has increased to 25.

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Portland, OR 97233

Real-Time Market Profile

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median List Price

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

7-Day Average 90-Day Average

Segments

In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 1 is on a bit of an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.

Price Per Square Foot

While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money.

Inventory has been relatively steady around these levels in recent weeks.

Market Action Index

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

7-Day Average 90-Day Average

Market Action Segments

Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

Median Days on Market (DOM)

The properties have been on the market for an average of 41 days. Half of the listings have come newly on the market in the past 15 or so days. Watch the 90-day DOM trend for signals of a changing market.

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

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