Portland Real Estate Market Update: December 2025

As we close out 2025, the Portland metro real estate market is showing clear signs of stability, modest price growth, and a seasonal slowdown that’s typical for this time of year. December data from the Regional Multiple Listing Service (RMLS) gives us a helpful snapshot of where the market stands—and what buyers and sellers can expect heading into 2026.

Here’s a breakdown of the key trends shaping Portland residential real estate right now.

Home Prices: Modest Growth, Holding Steady

Home values in the Portland metro area continued to rise gradually in 2025, signaling a market that’s balanced rather than overheated.

• Average sale price: $612,100
  (up 0.6% year over year)

• Median sale price: $549,000
  (up 1.1% year over year)

While price growth has been slower than in peak pandemic years, this steady appreciation is a positive sign for homeowners and a reminder that Portland residential real estate remains resilient.

Inventory: Still Tight, but Slightly Improved

Inventory ended December at 2.9 months, which is still below the level considered a fully balanced market. That means sellers generally retain an advantage, especially for well-priced, move-in-ready homes.

However, inventory remains higher than the ultra-tight conditions seen in prior years, giving buyers slightly more breathing room than they’ve had in the recent past.

Sales Activity: Seasonal Slowdown, Strong Closings

December reflected a typical winter slowdown in new activity—but closed sales told a more encouraging story.

• New listings: 1,005
  (down 5.9% year over year)

• Pending sales: 1,234
  (down 6.9% year over year)

• Closed sales: 1,633
  (up 6.5% year over year)

Even with fewer new listings and pending contracts, more homes actually closed compared to last December—suggesting motivated buyers and sellers were still getting deals across the finish line.

Days on Market: Homes Taking Longer to Sell

The average total market time increased to 81 days, up from November and higher than this time last year. This reflects a more deliberate pace as buyers take time to evaluate options and sellers adjust expectations.

For sellers, this underscores the importance of:

• Accurate pricing

• Strong presentation

• Strategic marketing

Homes that miss the mark in any of those areas are more likely to sit longer.

Looking Ahead to Early 2026

As we head into the new year, the Portland metro market appears to be transitioning into a more normalized rhythm:

• Prices are rising slowly, not rapidly

• Inventory remains limited, but improving

• Buyers are cautious yet active

• Sellers need to be strategic, not speculative

For buyers, this can mean less competition than spring and summer—but preparation still matters. For sellers, realistic pricing and strong fundamentals will continue to drive success.

Final Thoughts

December 2025 wrapped up the year with a market that’s stable, competitive, and increasingly balanced. Whether you’re thinking about buying, selling, or just keeping an eye on local market trends, understanding these shifts can help you make smarter decisions in the months ahead.

If you’d like a more detailed look at how these trends apply to your specific neighborhood—or want help planning your next move in Portland real estate—I’m always happy to help.