Portland Metro Real Estate: January 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 December, January reported a 37% increase in inventory (3.7 months), a 19.3% increase in total market time (88 days), and a 2.3% increase in median sale price ($537,000). 

January has continued to bring the winter chill across the Portland Metro real estate market. Most notably we had another significant increase in days on market paired with an increase in inventory. Expect to see these trends continue, although not as drastically, through the winter months especially since we don’t expect mortgage rates to decrease in the near term.

Notes for Buyers: As we continue through the winter season, expect to see a slowdown in new inventory and an increase in price adjustments on homes that have been sitting on the market. This poses a great opportunity 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: Pricing remains the core of a successful go-to market strategy. A property that's priced too high can linger on the market, risking diminished buyer interest over time. It's crucial to launch with a strategically set price paired with a comprehensive marketing plan designed to attract the best and widest pool of qualified buyers. If your property could benefit from updates or repairs, this slower season is an ideal time to tackle those projects. Let's discuss the best options to enhance your home's value and ensure you're market-ready at the optimal time!

Inventory Levels

Inventory levels are a leading indicator of market strength. The inventory level for January was reported at 3.7, meaning if no new homes came on the market, it would take 3.7 months for inventory to sell out completely (at the current rate of sales). 

Median Home Selling Price

The median sale price for December was reported at $537,000. It’s a 2.3% increase from last month and a 6.3% increase compared to January 2024. N/NE Clark County took over the top median sale price at a whopping $1,130,000.

Here’s what median home sale prices looked like across Portland proper:
West Portland: $636,300
North Portland: $468,000
NE Portland: $480,000
SE Portland: $425,000

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!