Portland Year-End Stats & Neighborhood Report ~ Dec 2024

Overview/Fluctuations ~ December 2024 Market Data:  

(**Check out my Neighborhoods Report at the bottom for details specific to your neighborhood or area of interest.)

New Listings, Pending Sales and Closed Sales were all up from year-end 2023 and down from the previous month, November 2024. Average Sale Price is down slightly from last year and down significantly fron November, whereas the Median Sale Price remained approximately the same. Inventory continues to be low, and we also need to remember that this is somewhat normal for holiday time every year, as are fluctuations in activity. See the Year-End Neighborhood Report below where I compare the differences in Price and Appreciation/Depreciation for each area of the general Portland Metro Area. Happy 2025! It’s off to a busy start!

Rates: “Positive news on inflation has helped stabilize rates in the mid to upper 6% range”    Gary Boyer, Regional VP, Gold Star Mortgage Financial  

                                                                                                                                                                                                 According to the RMLS Market Action Report for the Portland Metro Area December 2024:

  • There were 1,068 New Listings in December which increased 4.1% from the 1,026 in Dec 2023 and decreased 26.8% from the 1,459 in the previous month/Nov.
  • At 1,534 Dec 2024’s Closed Sales (Solds) are up 15.3% from Dec 2023’s 1,330 and down 8.7% from the previous month’s total of 1,681.
  • At 1,326 Dec 2024’s Pending Sales (Accepted Offers) are up 1.3% from Dec 2023’s 1,309, and decreased 16.2% from the previous month/Nov’s total of 1,582.
  • The Average Sale Price for December 2024 of, $578,300 is down$8,500. from last year/Dec $586,800, and down a whopping $37,400 from the p­­revious month/Nov’s $615,70. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in Dec 2024 of $525,000 is unchanged from Dec 2023’s $525,000, and down $10,000 from Nov’s $535,000.