Are you on the fence about making a move? Whether you’re considering buying, selling, or investing, knowing what’s happening in the real estate market can help you make an informed decision. In this week’s Portland, OR real estate market update, I break down the latest trends across Portland, OR, Southwest Washington, and the Mid-Willamette Valley.
What’s Happening in the Market?
Portland, Oregon: A Shifting Market
If you’re tracking the Portland, OR housing market, here’s what you need to know:
- New listings are up 5.1%, reversing last week’s decline.
- Pending sales continue to climb, up 1.7%.
- Closed sales dropped 11.7%, showing some hesitation in completed transactions.
- Time on market increased to 82 days (a 13.9% jump), meaning homes are taking longer to sell.
- Average sales price dipped to $576,800, while the median price rose 4.9% to $540,000.
Southwest Washington: Consistent Growth
This market is also seeing shifts, but the trends remain steady:
- New listings climbed 4.5%.
- Pending sales saw another increase, up 1.63%.
- Closed sales dipped slightly, down 5.9%.
- Time on market inched up 8.7%.
- Average sales price is now $567,700, with the median price rising 3% to $515,000.
Mid-Willamette Valley: Strong Growth Continues
Investors and buyers take note—this area is showing impressive momentum:
- New listings surged by 43.8%, indicating strong seller confidence.
- Pending sales are up 3.7% for the third consecutive week.
- Closed sales increased 8%, a sign of steady demand.
- Time on market has jumped 36.2% to 79 days.
- Average sales price continues to climb, now at $427,000 (2% increase).
- Median price is slightly up 1.1% to $410,000.
What This Means for You
Whether you’re buying, selling, or investing, these trends offer valuable insight:
✅ Sellers: If you’re listing your home, be prepared for slightly longer market times but know that prices in many areas remain strong.
✅ Buyers: There’s opportunity in shifting markets! With listings increasing, more options are becoming available.
✅ Investors: The Mid-Willamette Valley is particularly attractive due to its affordability and increasing activity.
What’s Your Next Move?
Have your thoughts changed about buying or selling? If you’re thinking about making a move, let’s connect your next step. Whether you’re upsizing, downsizing, or investing, we’ll make an informed decision together.
New listings are up, pending sales are rising, but homes are sitting longer—what’s your best move? Let’s strategize together. Book a consultation: https://calendly.com/lewisrealtors/30min-seller-phone-consultation
