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.
Compared to March, April reported 6.45% increase in inventory (3.3 months), 11.3% decrease in total market time (55 days), and a 3.5% increase in median sale price ($569,500). Historically, May continues the spring warm up for the Portland Metro real estate market and this rang true for 2025 as well with the increase in median sale price paired with the decrease in days on market.
Before we dive into our notes for buyers and sellers, we want to call attention to a recent article published on Realtor.com which reports that homes with price cuts reached a multi-year high in April and stresses:
Home sellers with unrealistic price expectations are setting themselves up for pain in a softening market that increasingly favors buyers, warn housing market experts.
Oregon ranks #6 on their home price cut surge list with 21.6% of our state’s active listings having price cuts.
During the spring and summer months we will see not only an increase in inventory, but an increase in buyers as well. To beat out the competition, make sure you’ve met with a lender and have a pre-approval letter in-hand. As mentioned in the article above, we’re seeing a wave of price cuts across active listings - an opportune time for savvy buyers if they’re paired with an agent who knows how to navigate this market, fiercely negotiate, and craft competitive and enticing offers.
We must stop pricing like it’s 2021. Continued economic ambiguity paired with unmoving interest rates are driving buyers to be more cost-conscious than ever, with some dropping out of house hunting entirely. Your go-to-market strategy needs to be more than a comprehensive marketing plan - pricing will be the biggest driver for attracting the best and widest pool of qualified buyers. As we enter the spring and summer selling season, you’ll find an increase in potential home buyers but will face the most competition as inventory climbs to its yearly peak.
Inventory levels are a leading indicator of market strength. The inventory level for May was reported at 3.3, meaning if no new homes came on the market, it would take 3.3 months for inventory to sell out completely (at the current rate of sales).
The median sale price for May was reported at $569,500. It’s a 3.5% increase from last month and a 2.0% increase compared to May 2024. Lake Oswego / West Linn continued their reign of top median sale price at $828,600.
Here’s what median home sale prices looked like across Portland proper:
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 5530 S Kelly Ave Portland OR 97239
Address 5530 S Kelly Ave Portland OR 97239
