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Is Portland a buyer’s market? A seller’s market? Or something in between? Portland’s real estate market is undergoing a shift, but not in just one direction. Right now, it’s more like a tale of two markets. Nationwide, we’re seeing a shift toward a more balanced market (see graph), but in Portland everything depends on the property, location, and price range.
The Big Picture:
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Inventory is Up: Compared to this time last year, there are more new homes on the market, which means more choices for buyers.
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Price Reductions: In March 2025, 37% of active listings experienced a price drop, a small increase from last year, showing sellers are adjusting expectations to stay competitive.
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Days on Market: In March 2025, the average days on market in the Portland metro was 71 days, an increase of 5 days compared to February 2024. However, averages can be deceiving, since some homes are sitting for months and some are pending within days.
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Months of Inventory: We’re at 3 months of inventory, up .7 from one year ago. While inventory is increasing, it’s still lower than what would be considered a balanced market (4-5 months).
While these indicators suggest the market may be inching toward more of a balanced market, the reality is that not all properties are created equal. While some homes are taking longer to sell, many others — especially well-priced, move-in-ready homes in walkable neighborhoods or near top schools — are getting multiple offers and flying off the shelf in just a few days. 35% of homes sold in Portland in February 2025 went over the asking price, with demand particularly strong in the sub-700K range.
