Find out what’s happening in the Portland real estate market for Mid-May 2025.
Hey everyone, I’m Aryne Blumklotz, principal broker with the Dream Digs Team at Living Room Realty, and I’m here to give you a quick update on what’s happening in the Portland market as of mid-May 2025.
Inventory is up – way up
There are currently 1,439 active listings in the Portland metro area. That’s a 28% jump from this time last year, and new listings are up as well—about 8% year over year.
What does that mean?
Buyers are seeing more options, and sellers are facing more competition. Over 40% of listings have had a price reduction, which tells us that pricing right out of the gate really matters.
For buyers, this is a welcome shift. With more inventory and longer average market times—85 days on average, though the median is just 35—you’ve got a bit more breathing room to shop, compare, and negotiate.
For sellers, this means strategy is key. Homes that are priced well and prepped for market are still moving quickly—sometimes in under two weeks. But others are sitting longer or needing price adjustments. So if you’re planning to list, it’s crucial to work with an agent who can help you position your home effectively from day one.
The median list price is about $725,000, but new listings are coming in closer to $650,000—a sign that sellers are adjusting expectations. On average, homes are priced at about $317 per square foot.
Pending Sales
They’re down slightly—2.5% year over year—but activity is still strong, especially for homes that are well-priced and show well.
The average sale price is down 4.5% compared to this time last year, but up 3.6% from last month. That bounce-back suggests that buyers are responding to better pricing—and the market could be finding its footing heading into summer.
So what does this mean if you’re thinking about buying?
It means opportunity. This is a more balanced market than we’ve seen in a while—more choices, more room to negotiate, and less frenzy at the offer table.
Here’s How We Help
At Dream Digs, we’ll build a search strategy around you. We’ll pair you with a solid local lender, walk through homes with a sharp and honest eye, and guide you in writing a strong, competitive offer.
From inspections to closing, we’re with you every step of the way—offering smart strategy, clear communication, and absolutely zero pressure.
Make Room To Live
Living Room Realty is committed to providing as much information as possible to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next Living Room.
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