PORTLAND REAL ESTATE MARKET - FEBRUARY 2025

The real estate market continues to show strength in February, with notable growth in closed sales and home prices. While new listings (1,930) and pending sales (1,648) saw slight decreases from last month, closed sales jumped 17.7% from January and 11.2% from February 2024, showing strong buyer demand. Interest rates have recently hit four month lows at around 6.7%, continuing to fuel demand for the spring.

Inventory dipped slightly to 3.2 months, while homes spent less time on the market, now averaging 79 days. Prices continue their upward trend, with the average sale price up 6.4% year-over-year to $607,800 and the median price rising 3.6% to $537,900.

The year-to-date numbers tell a positive story—new listings are up 3.1%, pending sales have increased by 2.7%, and closed sales have climbed 10.3% compared to early 2024. If you’re considering buying or selling, now is the time to make a move! Let’s chat about how we can make your real estate goals a reality.