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.
December delivered some notable changes compared to November:
Note: “Total market time” only counts listings that went from active to pending during the month. Homes withdrawn or canceled after long days on market are not included.
Another major shift: New listings and pending sales decrease drastically in December, down 30.1% and 24.2% respectively. Both of these dramatic drops are strong contributors to longer days on market. We’d also assume inventory to be up, but with the reported steep decline in inventory we can assume a large number of listings either expired or were cancelled in the month of December.
Flat prices and longer market times signal increased opportunity for well-prepared buyers. Inventory may be low, but the remaining active homes on the market likely have very motivated sellers, creating room for negotiation and value-focused offers. Now is the time to get your financing in order. A pre-approval not only strengthens your offer, but also ensures you’re ready to act quickly when the right home hits the market - whether it’s been sitting for months or is fresh on the market. In today’s market, a competitive offer isn’t just about price - terms, timing, and presentation are just as important.
During the winter selling season we typically see a slowdown in real estate activity. However, buyers shopping in the winter tend to be much more serious and eager to close. That being said, overpriced homes will struggle no matter the season which is apparent when you look at the continued rise in days on market over the past year. In today’s market, seller success requires a pricing strategy driven by current market value (based on weeks of data, not last year’s trends) paired with polished presentation and standout visuals.
Inventory levels are a leading indicator of market strength. It’s calculated by taking the total number of active listings at the end of the reported month divided by closed sales for the reported month. The inventory level for December was reported at 2.9, meaning if no new homes came on the market, it would take 2.9 months for inventory to sell out completely (at the current rate of sales).
The median sale price for December was reported at $535,000 which went unchanged from November, but a 1.9% increase from December 2024. Lake Oswego / West Linn took back the top median sale price in Portland Metro with $850,000.
Here’s what median home sale prices looked like across Portland proper:
West Portland: $685,000
North Portland: $464,900
NE Portland: $500,000
SE Portland: $453,700
Reach out if you’re interested in learning more about the Portland Metro real estate market. I can be reached anytime via email ([email protected]) or call/text (503-545-5094). You can also stay in touch by following us on Instagram!
Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
