PORTLAND REAL ESTATE MARKET - MARCH 2025

Spring has arrived, and the real estate market is waking up right along with it! March brought a boost in activity, with new listings climbing to 2,667—up 10% from last year and 38.2% from February. More homes on the market means more options for buyers and a great time to explore what’s out there.

Pending sales also rose 2.9% year-over-year and jumped 33.4% from February, showing strong buyer confidence. Closed sales reached 1,613, up both monthly and annually. Inventory dipped slightly to 3.0 months, and homes are selling faster, with market time down to 71 days.

On the pricing front, the average sale price increased to $603,000 (up 4.2% from last year), and the median rose to $540,000 (up 2.9%). Year-to-date, we’ve seen gains across the board: listings are up 5.8%, pending sales are up 3.0%, and closed sales are up 6.7%.

Interest rates have experienced some movement and have been fluctuating from 6.5 to 7% recently. Overall, rates remain relatively steady and although a decrease is expected, the decrease is likely to keep rates in the 6% range for the near future.

The bottom line? Whether you’re thinking of buying or selling, now is a great time to take action. Let’s connect and chat about your real estate goals this spring!