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Oct 2022 – Columbia Gorge Real Estate Market

Brett Stomps
Welcome to our monthly Columbia Gorge real estate market report where we discuss everything that you need to know to keep up to date on where we've been and what we're seeing today.

Table of Contents

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October 2022 is a Neutral market!

The number of for sale listings was up 41.8% from one year earlier and down 4% from the previous month. The number of sold listings decreased 41.8% year over year and decreased 31.2% month over month. The number of under contract listings was down 15.9% compared to previous month and down 36.1% compared to previous year. The Months of Inventory based on Closed Sales is 3.8, up 148.8% from the previous year.

The Average Sold Price per Square Footage was down 9.2% compared to previous month and down 7.3% compared to last year. The Median Sold Price increased by 4.1% from last month. The Average Sold Price also decreased by 6.7% from last month. Based on the 6 month trend, the Average Sold Price trend is “Depreciating” and the Median Sold Price trend is “Neutral”.

The Average Days on Market showed a neutral trend, an increase of 22.6% compared to previous year. The ratio of Sold Price vs. Original List Price is 92%, a decrease of 6.1% compared to previous year.

Read our: Real Estate Market Q3 Nationwide Review for an expanded market view.

For Sale / Sold / Pended


Property Sales (Sold)

October property sales were 64, down 41.8% from 110 in October of 2021 and 31.2% lower than the 93 sales last month.

Current Inventory (For Sale)

Versus last year, the total number of properties available this month is higher by 71 units of 41.8%. This year’s bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory is down 4% compared to the previous month.

Property Under Contract (Pended)

There was a decrease of 15.9% in the pended properties in October, with 69 properties versus 82 last month. This month’s pended property sales were 36.1% lower than at this time last year.

Average Sold Price per Square Foot*

The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The October 2022 Average Sold Price per Square Footage of $266 was down 9.2% from $293 last month and down 7.3% from $287 in October of last year.

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Days on Market / Sold to List Price Ratio

The Days on Market Shows Neutral Trend*

The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for October 2022 was 38, down 19.1% from 47 days last month and up 22.6% from 31 days in October of last year.

The Sold/Original List Price Ratio is Falling**

The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 92% is down 1.1% % from last month and down from 6.1% % in October of last year.

*Based on 6 month trend – Upward/Downward/Neutral

** Based on 6 month trend – Rising/Falling/Remains Steady

Average Sale / Sold / Median Sold

The Average For Sale Price is Depreciating*

The Average For Sale Price in October was $681,000, down 3% from $702,000 in October of 2021 and down 1.6% from $692,000 last month.

The Average Sold Price is Depreciating*

The Average Sold Price in October was $485,000, down 8.3% from $529,000 in October of 2021 and down 6.7% from $520,000 last month.

The Median Sold Price is Neutral*

The Median Sold Price in October was $458,000, up 6.8% from $429,000 in October of 2021 and up 4.1% from $440,000 last month.

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Months in Inventory Closed / Pended

A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.

  • Buyer’s market: more than 6 months of inventory
  • Seller’s market: less than 3 months of inventory
  • Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales

The October 2022 Months of Inventory based on Closed Sales of 3.8 was increased by 148.8% compared to last year and up 40.8% compared to last month. October 2022 is Neutral market.

Months of Inventory based on Pended Sales

The October 2022 Months of Inventory based on Pended Sales of 3.5 was increased by 120.7% compared to last year and up 13.1% compared to last month. October 2022 is Neutral market.

Absorption Rate on Closed / Pended Sales

Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.

  • Buyer’s market: 16.67% and below
  • Seller’s market: 33.33% and above
  • Neutral market: 16.67% – 33.33%

Absorption Rate based on Closed Sales

The October 2022 Absorption Rate based on Closed Sales of 26.6 was decreased by 58.9% compared to last year and down 28.3% compared to last month.

Absorption Rate based on Pended Sales

The October 2022 Absorption Rate based on Pended Sales of 28.6 was decreased by 54.9% compared to last year and down 12.6% compared to last month.