Portland Real Estate Market Update – July 2025

Portland Real Estate Market Update – July 2025

The Portland housing market in July 2025 continued to shift toward a more balanced environment, with rising inventory, softer prices compared to last month, and a slower pace of sales. For buyers, this means more options and time to consider their choices. For sellers, it means the market is more competitive, and proper pricing and presentation are more important than ever.

Inventory and Listings

Housing inventory stood at 3.7 months in July—up slightly from 3.6 months in June and nearly a full month higher than July 2024 (+0.9 months). This growth in supply is helping to ease the intense competition buyers faced over the past few years.

While 2,931 new listings hit the market in July, this was 5.3% lower than June. However, it’s still 0.9% higher than the same time last year, showing that seller activity remains steady year-over-year despite seasonal fluctuations.

Total active listings climbed to 7,503, a 4.8% increase from June and a significant 27.1% jump compared to last year. The year-over-year increase means buyers are seeing more variety and price points available across the Portland metro area.

Home Prices

The average sales price in July was $621,800, marking a 2% drop from June and a slight 0.2% decrease from July 2024. The median sales price came in at $555,000, down 2.6% month-over-month but 0.9% higher than last year.

While these aren’t dramatic shifts, they do show that prices are softening from early summer peaks. This is typical for the season, but it also reflects the growing inventory and buyers’ increased ability to negotiate.

Sales Activity

Buyer demand showed signs of easing. Pending sales—an indicator of homes going under contract—totaled 2,177, which is 4% lower than June and 0.6% lower than a year ago.

However, closed sales (completed transactions) saw a small monthly uptick, reaching 2,005 homes sold—0.9% higher than June. Compared to last year, closed sales were down 3.4%, showing that while the market is still active, it’s not moving at the same pace as in 2024.

Days on Market

The average time it took to sell a home in July was 52 days. This is one day longer than in June and eight days longer than last year. A longer market time gives buyers more breathing room to evaluate properties and negotiate, but sellers need to be aware that listings may require more marketing and patience before securing an offer.

What This Means for Buyers and Sellers

For Buyers:

• More inventory means more choice in neighborhoods, price ranges, and property types.

• Price softening in certain areas can create negotiation opportunities.

• The increase in days on market means there’s less pressure to make an immediate offer.

For Sellers:

• Pricing competitively is critical—overpricing can lead to extended time on the market.

• Well-presented homes that show well online and in person still attract strong interest.

• With more competition, strategic marketing and staging can make a big difference in getting the best offer.

Looking Ahead

As summer winds down, the market may continue to see modest price adjustments and a steady build-up of inventory. Interest rates, economic trends, and seasonal buyer activity will all play a role in shaping the late-summer and fall housing market.

For now, Portland is experiencing a healthier balance between buyers and sellers, a welcome change after years of intense competition.