Portland metro Housing Market: The Surprising Trends Every Buyer an...

The Portland Metro real estate market is full of surprises as we move into 2025. Whether you’re buying your first home, upgrading, or selling, understanding the latest trends can give you a significant advantage. Let’s dive into the latest RMLS data and what it means for you.

Market Highlights You Need to Know

New Listings

In December 2024, 1,068 new listings were added to the market. That’s a 4.1% increase from December 2023 but a steep 26.8% decrease from November 2024. The drop in new listings creates more competition for available homes—making it a critical time to have expert guidance.

Pending Sales

December 2024 saw 1,326 pending sales, a 1.3% increase from December 2023 but a 16.2% decrease from November 2024. While sales activity has slowed slightly from the previous month, it remains steady—proof that buyers are still eager to secure their next home.

Closed Sales

Closed sales reached 1,534 in December 2024, marking a 15.3% increase from December 2023. However, there was an 8.7% decrease compared to November 2024. Sellers are closing deals, and buyers continue to finalize their purchases despite the seasonal shift.

Inventory and Market Time

Inventory Levels: December ended with just 2.7 months of inventory.
Market Time: Homes spent an average of 74 days on the market, giving buyers slightly more breathing room while still keeping the market competitive.

2024 Year-in-Review

New Listings: 29,586 new listings in 2024, a slight 0.3% decrease from 2023.
Pending Sales: 21,961 sales, up 2.8% compared to 2023.
Closed Sales: 21,715 homes sold, a 3.7% increase from the previous year.

Home Prices Continue to Climb

Average Sale Price: Rose to $608,600, a 1.8% increase from 2023.
Median Sale Price: Now at $543,000, up 2.1% from 2023.

If you’ve been considering selling, these price trends are a clear sign that your property could achieve a strong return. For buyers, acting now could save you from higher prices in the future.

How I Can Help You Succeed

Navigating this market requires the expertise of someone who understands the Portland Metro area inside and out. Here’s how I can make a difference:

For Buyers:

Stay Ahead: I provide up-to-date data on comparable sales and new listings to ensure you make informed decisions.
Courtesy Loaner Tools: Need help with home improvement or repairs? I offer courtesy tools to make your transition easier.
Smooth Moves: Get a courtesy U-Haul certificate to simplify your moving process.
Home Warranty Protection: When the seller doesn’t offer a warranty, I make sure my buyer clients are covered.

For Sellers:

Maximize Visibility: I create customized marketing plans that highlight your property’s best features.
Data-Driven Pricing: With access to real-time market insights, I’ll help you price your home to attract the right buyers.
Stress-Free Process: From listing to closing, I handle the details so you can focus on what matters most.

Your Trusted Partner in Portland Real Estate

As a licensed Oregon real estate agent, I specialize in serving clients in Portland, Beaverton, Hillsboro, and Bethany. My mission is simple: to provide exceptional service and help you achieve your real estate goals. Your success is my priority, and I’m here to guide you every step of the way.

Let’s connect and explore how I can make your next move the best one yet. Call me at 971.91.JOSHY or visit tryjos.com to learn more.

Disclaimer

The information and data presented in this blog are sourced from the Regional Multiple Listing Service (RMLS) and reflect market trends as of December 2024. While every effort has been made to ensure accuracy, the data is subject to changes.This content is provided for informational purposes only and does not constitute financial, investment, or legal advice. Market trends and performance can vary significantly based on location, property type, and other factors. Readers should conduct their own research or consult with qualified professionals, including real estate agents, financial advisors, or legal counsel, before making any real estate decisions.