Portland Real Estate Market Update: June 2025

If you’re thinking about buying or selling in the Portland metro area, staying up to date on local trends is essential. The June 2025 Market Action Report shows a market that remains active and steady, with prices ticking upward and inventory gradually increasing. Here’s a look at what’s happening:

Prices Continue a Modest Climb

The average sale price for a Portland metro home rose to $634,400 in June, up 1.2% compared to the same period last year. The median sale price also increased to $570,000, reflecting a 1.5% year-over-year gain. While these price jumps aren’t dramatic, they highlight a resilient market that continues to appreciate despite higher interest rates.

More Homes Hitting the Market

Inventory has been on the rise, giving buyers more options. June saw 3,096 new listings, a 1.7% increase over June 2024, though down from May’s spring surge. Overall, the first half of 2025 brought 5.3% more new listings than the first half of last year—a positive trend for buyers hoping to see more selection.

Time on Market Shortens

Homes are moving a bit faster compared to previous months. The total market time—the average number of days from listing to an accepted offer—fell to 51 days in June. That’s down from 55 days in May but still slightly higher than last year’s 46-day average for June.

Affordability Remains a Consideration

Affordability remains a challenge for many buyers. A median-income household in the Portland area (earning around $124,100) can afford about 87% of a monthly mortgage payment on a median-priced home with a 20% down payment and a 30-year loan at a 6.8% rate. For buyers, this underscores the importance of pre-approval and budgeting.

Sales Activity Mixed

Pending sales (accepted offers) rose 2.3% year over year to 2,267 in June, while closed sales slipped slightly—down 4.5% from June 2024. This combination suggests strong buyer demand but also some lag in closing timelines, possibly due to financing and appraisal delays.

What This Means for You

For sellers, sustained buyer interest and rising prices mean that well-prepared homes continue to attract serious offers. For buyers, increasing inventory and more choice can help ease competition, but staying informed and acting quickly remains key.

If you’d like to talk about how these trends might impact your plans, I’m here to help you navigate the Portland market confidently.