PORTLAND REAL ESTATE MARKET- MAY 2025

Steady Growth and Expanding Opportunities in the Market

The May real estate numbers are in, and they continue to show a healthy and growing market with promising opportunities for both buyers and sellers. New listings jumped to 3,651, up 4.1% from May 2024 and an encouraging 8.7% increase from April 2025. This growing inventory means more options and fresh opportunities for buyers who may have felt limited earlier in the year.

Pending sales came in at 2,299, which represents a modest 2.7% dip from last May, but a 3.3% improvement from April 2025—signs of steady buyer activity despite seasonal shifts. Closed sales followed suit with 2,018 homes sold, marking a 7.3% increase month-over-month, and only slightly down compared to this time last year.

Inventory continues to build, reaching 3.3 months in May, while market time dropped to just 55 days—an encouraging sign that well-prepared and well-priced homes are still moving quickly. From January through May, we’ve seen a 6.0% increase in new listings compared to 2024, while closed sales have also climbed by 2.1%, highlighting continued buyer confidence. The condo market is seeing the largest gains in inventory with a steady increase over the last three years, while condo closings have remained flat, indicating a softening of the condo market in particular. In the short term, we’re projecting inventory to continue to grow through the summer selling season, providing many opportunities for buyers.

Home values remain strong, with the average sale price rising 1.5% year-over-year to $610,500, and the median sale price up 2.6% to $549,000. These gains, along with year-over-year increases in both average and median sale prices, reinforce a market that is both resilient and rewarding for those looking to build long-term equity.

Whether you’re thinking about buying, selling, or investing, now is a great time to explore your options. With more homes hitting the market and values holding strong, let’s talk about how you can take the next step with confidence!