Each month we break down the RMLS Market Action Report to help Portland area homeowners and buyers understand what’s actually happening in the market. The Portland Metro Residential Market Action Report is a monthly snapshot provided by RMLS, the regional database where real estate agents list homes across the area.
August marks the beginning of the end of the summer selling season across Portland Metro. This year, that shift is reflected in a decrease in pending and closed sales, along with:
Inventory increased 15% to 3.8 months
Median sale price decreased 2.7% to $540,000
Total market time increased 5.6% to 57 days
Note: “Total market time” only counts listings that went from active to pending during the month. Homes that were withdrawn or canceled after extended time on market are not included.
A little perspective on today’s market: Roughly one-third of homes sell within a month, another third sell over a longer period, and the remaining third are ultimately pulled off the market without selling. For comparison, the housing frenzy of 2020 saw a 98% sale success rate.
With days on market increasing and median sale price decreasing, sellers are showing more willingness to consider price reductions, well-written terms, and below-asking offers. We highly recommend taking a second look at homes that have been on the market for at least 30 days. These “stale” listings may offer some of the market’s best opportunities.
That said, well-priced homes still don’t last long. Keep an eye on your saved searches and be ready to move when the right property comes along - with your financing pre-approval letter in hand.
If your home is currently on the market: The longer your home sits, the more you risk devaluing your property in the eyes of buyers. We can’t stress this enough: pricing strategy is (almost) everything in today’s market. If your listing isn’t getting the attention you expected, it may be time to reassess your pricing, presentation, or overall marketing strategy.
If you’re looking to sell in 2026: Focus on the fundamentals. Homes need thoughtful preparation, professional marketing, standout presentation, and a strategic pricing plan from the start. Meet with an agent now to make sure you have a solid go-to-market strategy in place before you’re ready to list.
The takeaway: Buyers have more room to negotiate, but sellers who price and prepare strategically can still put themselves in a strong position.
Inventory levels are a leading indicator of market strength. This metric is calculated by dividing the total number of active listings at the end of the month by the number of homes that sold during the same period.
The inventory level for August was 3.8 months, meaning that if no new homes came on the market, it would take 3.8 months for all existing inventory to sell at the current pace of sales.
The median sale price for August was $540,000, representing:
2.6% decrease compared to last month
1.8% decrease compared to August 2025
Lake Oswego / West Linn maintained the highest median sale price in the Portland Metro area at $930,000.
West Portland: $629,500
North Portland: $457,000
NE Portland: $553,000
SE Portland: $477,500
If you’d like to learn more about the Portland Metro real estate market, or how these trends may impact your home, feel free to reach out anytime.
Email: [email protected]
Call or Text: 503-545-5094
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Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
