First Quarter Market Update — Portland Metro Area
The Portland area housing market showed solid momentum in March. New listings were up 2.7% year-over-year and jumped 21% from February, while pending sales increased 5.5% annually and 27% month-over-month—clear signs of strong buyer activity heading into spring. Closed sales also climbed, up 11% from March 2025 and 27% from February.
Inventory tightened slightly to 3.0 months, and total market time dropped to 79 days, indicating a more competitive environment compared to the prior month, though homes are still taking a bit longer to sell than a year ago.
Year-to-date, the market is modestly ahead of 2025, with new listings up 4.4%, pending sales up 5.3%, and closed sales up 1.2%. However, prices tell a more mixed story—despite monthly gains, average and median sale prices are down year-to-date (−1.4% and −2.8%, respectively), and essentially flat over the past 12 months.
Overall, the data points to a market gaining momentum in activity, with stable-to-slightly soft pricing and improving conditions as we move into the peak spring season.
What’s it mean for buyers?
Buyers should expect more competition this spring, as rising new listings and an increase in sales signal that more people are entering the market. The good news is that prices remain relatively flat or slightly down year-to-date, creating opportunity. Overall, it’s a more active market, but one where prepared buyers can still find value if they move quickly and strategically.
What’s it mean for sellers?
For sellers, the market is promising but competitive. Rising sales show strong demand, and well-priced homes attract attention quickly. Pricing strategically is key—overpriced listings are taking a very long time to sell. Sellers who position their home smartly in terms of price, presentation, and marketing, can do well in this market.
