Housing market report for January 2022: Portland

city skyline near body of water during daytime

January 2022 highlights

The Portland area’s housing market is adjusting in the new year to year-end lows in most metrics like list prices, sale prices, and days on market. While sale prices continued to decrease through the end of the year and into 2022, the fact that homes spent less time on the market gave sellers optimism and list prices increased.

  • Time on market fell sharply in both Portland and Beaverton Portland days on market fell from 12 days in December to just 5 in January, suggesting an increase in competition. Beaverton’s days on market average also dropped to 5 from 7, suggesting it remains as competitive as ever.
  • List prices were higher than in the previous two months Sellers adjusted their list prices in January up from December prices after homes that month sold for about $20,000 above asking on average. They over-adjusted though, and buyers were paying about $10,000 less this than the list price this month.
  • The market is ramping back up in the entire Portland area following a year-end slow-down In both Portland and Beaverton, there were more homes listed than in December and November. Sales kept up pace with listings, though, as the number of homes that went to pending status increased as well, keeping inventory low.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Sale price

List price

Sale price compared to list price

Days on market

Number of properties listed

Number of properties pending sale

Portland data includes the city of Portland.

Hillsboro & Beaverton data includes the cities of Hillsboro and Beaverton.

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