Portland Metro Real Estate: February 2025 Market Action Report

The Portland Metro Residential Market Action report is a monthly review provided by the RMLS, a database where real estate agents post home listings for the region. 

The Numbers At-a-Glance: Compared to January, February reported a 13.5% decrease in inventory (3.2 months), 10% decrease in total market time (79 days), and a 0.2% increase in median sale price ($538,300). February traditionally kicks off the winter thaw across the Portland Metro real estate market. Albeit not a full defrost, we see slight warming trends like the increase in median sale price paired with the decrease in days on market. 

Notes for Buyers: In the coming months, expect to see lower inventory and more price adjustments on homes that have been sitting on the market. This is an opportune time for savvy buyers! We encourage you to check out listings with 60+ days on the market. If a property aligns with most of your search criteria but is slightly above your budget, it may still be worth touring. And then if it’s a good fit, a thoughtfully crafted offer below the asking price could open the door to a great deal.

Notes for Sellers: We know we’re starting to sound like a broken record at this point… But we can’t emphasize enough that pricing is at the core of a successful go-to market strategy. The more time you spend on the market, the more you risk diminished buyer interest and devaluing your property. A strategically set price paired with a comprehensive marketing plan will attract the best and widest pool of qualified buyers. If your property could benefit from updates or repairs, now is an ideal time to tackle those projects. 

Inventory Levels

Inventory levels are a leading indicator of market strength. The inventory level for February was reported at 3.2, meaning if no new homes came on the market, it would take 3.2 months for inventory to sell out completely (at the current rate of sales). 

Median Home Selling Price

The median sale price for February was reported at $538,300. It’s a 0.2% increase from last month and a 1.6% increase compared to February 2024. Lake Oswego / West Linn reclaimed the throne for top median sale price at $865,000.

Here’s what median home sale prices looked like across Portland proper:
West Portland: $637,500
North Portland: $510,000
NE Portland: $474,900
SE Portland: $479,900

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!