Top Medium Teams in Portland, Oregon – Ranked by Volume

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2023 Portland, Oregon Housing Market Summary

Portland, Oregon started 2023 with a total of 939 single-family homes on the market, with a median home price of $585,000 and an average price per square foot of $331. By the end of the year, inventory had decreased to 876 homes on the market (-6%), with a median home price of $649,000 (+10%) and an average price per square foot of $341 (+3%).

At the start of 2023, the median days on market (DOM) was 84 days – by the end of the year, median DOM had decreased to 80 days.

Portland started the year with 50% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 45% of Portland homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Portland started 2023 as a seller’s market, with an MAI score of 44; by the end of the year, the MAI had rose to 47 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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