Are you waiting on the sidelines, unsure about the housing market? Wondering if now is the right time to buy or sell in Portland, Mid Willamette, OR or Vancouver, WA? You’re not alone. Many homeowners and buyers are observing mortgage rates and market trends, trying to make the right decision.
I hear this all the time: “I was thinking about moving last year, but I hesitated. Now home prices have gone up!” If this sounds familiar, this market update is for you. Let’s break down the real estate market trends in Portland, Mid-Willamette, OR and Vancouver, WA for February 2025 compared to February 2024. This data will help you make informed decisions about your next move.
Portland, OR Market Trends: February 2025 vs. February 2024 – New Listings Are Down
Inventory remains tight in Portland, OR.
- February 2024: 2,805 new listings
- February 2025: 1,930 new listings
That’s a decrease of almost 1,000 homes year-over-year. Fewer homes on the market mean continued competition among buyers.
Pending & Closed Sales
Even with fewer listings, homes are still selling.
- Pending Sales (Feb 2024): 1,742
- Pending Sales (Feb 2025): 1,648
- Closed Sales (Feb 2024): 1,284
- Closed Sales (Feb 2025): 1,428
Closed sales increased in 2025, which tells me serious buyers are still active and making moves despite economic uncertainties.
Home Prices Are Rising
Property values continue to appreciate in Portland.
- Average Sale Price (Feb 2024): $576,900
- Average Sale Price (Feb 2025): $613,100
- Median Sale Price (Feb 2025): $538,300
That’s a substantial increase in home values year-over-year. If you were waiting for the “perfect” time, consider how much pricing has already shifted.
Market Time & Inventory
- Days on Market (Feb 2024): 68 days
- Days on Market (Feb 2025): 79 days
- Months of Inventory (Both Years): 3.2 months
While a 3-6 month inventory level typically indicates a neutral market, Portland still has areas where homes are selling fast—especially move-in-ready, well-updated properties in desirable locations.
Vancouver, WA Market Trends: February 2025 vs. February 2024
New Listings & Pending Sales
Like Portland, new listings dipped in Vancouver, WA.
- New Listings (Feb 2024): 602
- New Listings (Feb 2025): 532
Pending sales have also slightly declined:
- Pending Sales (Feb 2024): 569
- Pending Sales (Feb 2025): 475
With fewer listings and pending sales, Vancouver’s market remains steady but competitive.
Closed Sales & Home Prices
Homes continue to appreciate in Vancouver.
- Closed Sales (Feb 2024): 402
- Closed Sales (Feb 2025): 419
- Average Sale Price (Feb 2024): $557,200
- Average Sale Price (Feb 2025): $597,800
- Median Sale Price (Feb 2025): $530,300
That’s nearly a $40,000 price increase over one year!
Market Time & Inventory
- Days on Market (Feb 2024): 64 days
- Days on Market (Feb 2025): 77 days
- Months of Inventory: 3.2 months (2024) → 3 months (2025)
Certain Vancouver neighborhoods are still seeing strong demand, faster sales, and competitive offers depending on the location and condition of the home.
What This Means for Buyers & Sellers
If You’re a Seller…
With low inventory and rising prices, you have an opportunity. Even though data may suggest a neutral market overall, some neighborhoods remain in high demand.
- Homes that are updated and well-maintained are selling fast.
- Move-in-ready properties are receiving strong offers.
- I can help you strategically price and market your home to maximize value.
If you’re on the fence, now may be the right time to capitalize on strong pricing trends.
If You’re a Buyer…
Yes, interest rates play a role, but waiting often means paying more later. Prices are moving upward, and homes in desirable neighborhoods aren’t sitting unsold.
- Acting now locks in today’s pricing.
- There are still opportunities in emerging areas like Polk and Marion Counties for long-term investment potential.
- Competition remains in sought-after neighborhoods, so having a trusted advisor on your side is key.
Your Next Step: Let’s Strategize Together
The real estate market is constantly moving—and waiting could mean missed opportunities. Instead of guessing what’s next, let’s have a personalized strategy session so we can determine the best approach for you.
I analyze your neighborhood’s real-time data daily and can offer insights tailored to YOUR specific goals.
