Spring 2025 Portland Real Estate Market Update

Spring is in full swing, and with it, new opportunities in Portland's real estate market! Here’s a look at the latest market trends for April 2025, along with what buyers and sellers can expect.

Key Market Data (April 2025)

• Median Sale Price: $546,000 (up 2.1% from April 2024)

• Average Sale Price: $612,600 (up 1.8% from April 2024)

• Inventory: 3.1 months (a 7.6% increase from April 2024)

• Total Market Time: 62 days (down from 71 days in March 2025)

What’s Happening with Listings?

New listings in the Portland Metro area saw a significant uptick in April, with 3,358 new listings, a 7.6% increase from the previous year and a 25.9% jump compared to March 2025. This surge provides more options for home buyers, although the increase in inventory still falls short of demand.

Pending Sales & Closed Sales

Pending sales showed a slight decrease of 3.8% compared to April 2024, totaling 2,225 pending offers. However, closed sales experienced a 16.6% increase from March, with 1,880 homes sold.

What’s Driving the Market?

The data shows that Portland’s real estate market remains competitive, especially in certain price ranges:

• $500K to $600K homes represent the highest volume, but we’re also seeing stronger activity in higher price ranges, such as the $700K to $800K range.

While there is a small increase in home prices, this increase remains below the high rates seen over the last few years. This may offer opportunities for both buyers and sellers to make strategic moves, especially in neighborhoods seeing increased sales activity.

Neighborhood Trends

Different areas of the Portland Metro are seeing distinct market dynamics:

• Southeast Portland remains a hot spot with strong demand, particularly for homes in the $500K to $600K range.

• Lake Oswego and West Linn show a decrease in inventory, but the median sale prices here remain significantly higher, indicating sustained demand in these upscale neighborhoods.

Forecasting the Rest of Spring 2025

The increase in listings, alongside modest price increases, signals a slight cooling in the market, providing opportunities for homebuyers who were previously sidelined by high prices and limited inventory. However, with 62 days on market in April, homes are still selling relatively quickly, so it’s important to move fast if you find a property you love!

For sellers, this is a great time to list, but pricing will be key. Competitive pricing and preparing your home for showings can make a big difference in how quickly your property moves.