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.
Compared to September, October brought notable shifts to the Portland housing market:
A note on total market time: It’s important to know that this figure only reflects listings that went from active to pending during the reported month. Homes that were withdrawn or canceled aren’t factored into the calculation. As a result, the reported market time often appears shorter than what sellers are actually experiencing - it would likely be higher if all listings and their full days on market were included in the dataset.
Another standout stat: Closed sales increased 13.2% in October, a sharp turnaround from the 10% decrease we saw in September. This surge suggests that buyers are re-engaging - taking advantage of improved pricing, the dip in interest rates, and seller’s seasonal motivation. In short, the market is showing signs of renewed activity and more balanced movement heading into the winter months.
The jump in market time paired with the rise in closed sales is a strong indicator of opportunity for well-prepared buyers. Homes lingering on the market are beginning to face price adjustments, opening doors for negotiation and value-driven purchases. If you’re planning to buy soon, now’s the time to get your financing in order. A pre-approval not only strengthens your position but ensures you’re ready to move when the right home appears. Remember, a competitive offer isn’t just about price - it’s about the terms, timing, and presentation that make your offer stand out.
As mentioned above, homes that continue to sit on the market and drive up total market time are in need of price adjustments. You need a pricing strategy that fits current true market value - we’re talking weeks, not months or years. As always, your holistic go-to-market strategy is everything - precision pricing, polished presentation, and standout visuals. Today’s buyers are quick to scroll past anything that doesn’t shine.
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 October was reported at 3.1, meaning if no new homes came on the market, it would take 3.1 months for inventory to sell out completely (at the current rate of sales).
The median sale price for October was reported at $540,000. It’s a 0.9% decrease from last month and flat compared to October 2024. Lake Oswego / West Linn continued their reign of top median sale price at $795,000.
Here’s what median home sale prices looked like across Portland proper:
West Portland: $681,500
North Portland: $484,200
NE Portland: $509,500
SE Portland: $459,000
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!
Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
Address 4200 Mercantile Dr #700 Lake Oswego, OR 97035
