UPDATE: Portland, OR Real Estate Market Conditions February 2025

[Keegan Schaub]

As of February 2025, Portland's real estate market is exhibiting signs of stability and modest growth. In January 2025, the median home price reached $485,000, marking a 3.2% increase from the previous year. Homes are typically on the market for about 56 days before selling, slightly longer than the 43 days observed last year.Redfin

The number of homes for sale has risen by 6.6% from December 2024 to January 2025, totaling 3,131 active listings. However, the number of homes sold decreased by 25% during the same period, with 505 homes sold in January 2025 compared to 673 in December 2024.Rocket

Looking ahead, forecasts suggest a period of relative stability in home values, with a slight 0.1% increase anticipated between February and April 2025. Over the next year, a modest 0.8% decrease is projected, indicating a potential cooling of the market.Norada Real Estate

Despite high housing costs contributing to population shifts, the Portland real estate market remains resilient. The contrasting growth patterns between Oregon and neighboring Washington suggest that factors such as taxes and public services are influencing these trends.portlandmetrochamber.com

Overall, Portland's housing market in early 2025 reflects a balanced environment, with steady home prices and a healthy inventory, offering opportunities for both buyers and sellers.