Published February 13, 2025

PORTLAND REAL ESTATE MARKET - JANUARY 2025

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Written by Noah Kragerud

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January Market Update: A Strong Start to 2025! 

The housing market is off to a busy start in 2025! New listings surged to 2,205, a 13.6% increase from January 2024 and more than double December’s numbers. Buyers are also jumping in, with pending sales up 15.2% from last year and nearly 30% higher than last month.

Closed sales rose 8.3% year-over-year, though they dipped slightly from December, which is typical for this time of year. Inventory has grown to 3.7 months, giving buyers more choices than they’ve had in over two years, while total market time increased to 88 days. Interest rates remain steady around 7% without strong signs of change in the coming months giving buyers no reason to wait as prices continue to rise.

Prices are continuing to trend upward—both the average and median sale prices increased by 6.3% compared to last January. All signs continue to point to a stronger real estate market in 2025. If you're thinking about buying or selling, now is a great time to strategize. Let’s connect and make your real estate goals happen in 2025!

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