PORTLAND REAL ESTATE MARKET- SEPTEMBER 2025

September’s housing market showed continued steadiness and opportunity for both buyers and sellers, highlighting the resilience of our local real estate landscape. New listings reached 2,498 — a slight 3.5% dip from last year but a small uptick from August, showing that homeowners are still motivated to make moves. Pending sales rose 3.3% compared to September 2024, a healthy sign of active buyer interest, even as closed sales adjusted seasonally with a 9.7% dip from August. Inventory inched up to 3.8 months, giving buyers more breathing room, while total market time held steady at 62 days — an encouraging indicator of a balanced pace between supply and demand.

Looking at the year-to-date numbers, new listings are up 2.6% from 2024, with pending and closed sales each up 1.6%. Home values also continue to show stability and gradual growth, with the average sale price increasing to $616,200 — a 0.6% gain — and the median price rising 0.9% to $550,000. These steady gains signal that confidence in the market remains strong. For sellers, that means your investment is holding value, and for buyers, the current balance of inventory and pricing creates an excellent window of opportunity to make a move before demand heats up again. Listing price reductions are at a high, but that doesn’t mean that home prices are decreasing, it often means that sellers are overly optimistic about their home’s value and ultimately need to adjust the price to what the market is currently dictating.

September brought a decrease in interest rates, though some of that decrease was short-lived, rates are still more favorable than they’ve been this year, hovering around 6.3%. The lower rates are driving some increased activity, though not significant. 

Overall, September reflected a healthy, sustainable pace for real estate — one that encourages opportunity on both sides of the transaction. Whether you’re planning to list, buy, or explore what’s next, now is a great time to start the conversation about your goals.