Why Does This Matter?
As we settle into the new year, many homeowners and buyers are asking: What’s happening in the real estate market? Whether you’re thinking about selling your home or searching for the right buying opportunity, understanding current trends in Portland, OR, Vancouver, WA, and the Mid-Willamette Valley will help you make informed decisions.
What’s Happening in the Market?
Here’s a snapshot of key real estate trends from January 17-23, 2025:
Portland Metro Market
- New Listings: Up 1.1% (369 homes) – More homes are coming to market.
- Pending Sales: Up 7.4% – Buyers are staying active.
- Closed Sales: Down 16.9% – Likely reflecting holiday season sales cycles.
- Time on Market: 91 days (Up 15.2%) – Homes are taking longer to sell.
- Home Prices:
- Average Price: Down 8.4%
- Median Price: Down 9%
Key Takeaway: More homes are hitting the market, but pricing strategically is key for sellers. Buyers may have more options to choose from.\
Mid-Willamette Valley (Polk & Marion Counties, Salem Area)
- New Listings: Down 1.8% – Fewer homes entering the market.
- Pending Sales: Up 3.5% – Demand remains strong.
- Closed Sales: Down 25% – A significant drop, likely due to the holiday period.
- Time on Market: Down 65.5% (Only 38 days) – Homes are selling faster here than in other regions.
- Home Prices:
- Average Price: Down 18.5% ($447,200)
- Median Price: $445,000
Key Takeaway: Homes are moving quickly, but sellers should still price carefully in a shifting market.
Southwest Washington (Vancouver, WA & Clark County)
- New Listings: Down 1% – Inventory is steady.
- Pending Sales: Up 4.2% (738 homes) – Buyers remain active.
- Closed Sales: Down 46.7% – A big drop, likely due to holiday season sales cycles.
- Time on Market: 80 days (Down 3.6%) – A slight improvement in selling time.
- Home Prices:
- Average Price: $553,800
- Median Price: Up 2.9% ($527,800)
Key Takeaway: Buyer demand remains strong, and rising median prices suggest that well-priced homes are still selling.
How Does This Affect You?
If You’re Thinking About Selling:
- Portland sellers: Be prepared for longer days on market and price accordingly.
- Mid-Willamette Valley sellers: Your home may sell quickly, but competitive pricing is still key.
- Vancouver, WA sellers: Buyers are active, and median prices are rising—a great time to list!
If You’re Looking to Buy:
- Portland’s market is seeing price adjustments, so there may be great opportunities for buyers.
- Mid-Willamette Valley homes are moving fast, so be ready to act quickly.
- Vancouver, WA prices are rising, meaning now might be a smart time to buy before they climb further.
What’s Next?
Every neighborhood is different! If you’re wondering how these trends impact your home value or buying strategy, let’s chat. Get a free home valuation or personalized market update today!
Schedule a Free Consultation: https://calendly.com/lewisrealtors/30min-seller-phone-consultation.
Want more insights? Watch my latest market update here: https://www.youtube.com/watch?v=V8OZkJfVl-o
