Portland Metro Real Estate: January 2026 Market Action Report

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.

The Numbers at a Glance

December delivered some notable changes compared to November:

• Inventory surged to 4.3 months, a 48.25% increase month over month and the highest level we’ve seen since February 2013.
• The median sale price declined 4.7% to $510,000.
• Total market time increased 9.9%, rising to 89 days.

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 Homes withdrawn or canceled after long days on market are not included.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 jumped 109.9% month over month. While a post-holiday bump in listings is typical as sellers typically wait for the new year to enter the market, this year’s surge pushed inventory to record-high levels, technically…

Notes for Buyers

Buyers haven’t had this much inventory to pick from in over a decade! The combination of more choices, slightly softer prices, and longer market times creates meaningful opportunities for well-prepared buyers. Now is the time to get your finances in order. A pre-approval will strengthen your offer and ensure you’re ready to act quickly. And remember, in today’s market a winning offer isn’t just about price - terms, timing, and overall presentation matter just as much.

Notes for Sellers

Sellers are now facing more competition and cautious buyers have the flexibility to be even more selective. Overpriced homes will continue to struggle. If your home is already on the market and showing activity is slow, it may be time to reassess your pricing strategy.  For those planning to list this spring, success will hinge on pricing based on current market data (not last year’s trends) combined with polished presentation and standout marketing visuals.

Inventory Levels

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 January was reported at 4.3, meaning if no new homes came on the market, it would take 4.3 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 $510,000, a 4.7% decrease from last month, and a 5% decrease from January 2025. Lake Oswego / West Linn retained the top median sale price in Portland Metro at $820,000.

Here’s what median home sale prices looked like across Portland proper:

• West Portland: $570,000
• North Portland: $431,900
• NE Portland: $480,000
• SE Portland: $425,500

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!