Portland Metro Market Update – February, 2025

New listings (1,930) decreased 7.4% from the 2,085 listed in February 2024, and decreased 12.5% from the 2,205 listed in January 2025. Pending sales (1,648) decreased 5.4% from the 1,742 offers accepted in February 2024, and decreased 4.1% from the 1,719 offers accepted in January 2025. Closed sales (1,428) increased 11.2% from the 1,284 closings in February 2024, and increased 17.7% from the 1,213 closings in January 2025.

Inventory decreased to 3.2 months in February. That means if no new homes were to come onto the market, that it would take 3.2 months to sell at the rate at which they are selling. Total market time decreased to 79 days.

Comparing the first two months of 2025 to the same period in 2024, new listings (4,166) increased 3.1%, pending sales (3,246) increased 2.7%, and closed sales (2,683) increased 10.3%.

Comparing 2025 to 2024 through February, the average sale price has increased 6.4% from $571,100 to $607,800.