January 2026 Portland Metro Market Trends

Portland Metro Real Estate Market Update | January 2026

The Portland Metro real estate market kicked off 2026 with rising inventory, steady long-term prices, and homes taking longer to sell. While activity is slightly slower than this time last year, the overall market is shifting toward a more balanced environment—creating opportunities for both buyers and sellers who approach the market strategically.

What is happening in the Portland Metro housing market?

January brought an increase in available homes, with inventory rising to 4.3 months, up from the previous month. 
Total market time also increased to 89 days, showing that homes are taking longer to go under contract than they were a year ago. 
New listings decreased 4.4 percent compared to January 2025, and pending sales were down just 0.6 percent. Closed sales fell 8.4 percent year over year, reflecting a slightly slower start to the year.
Despite these short-term shifts, long-term home values remain stable. The rolling 12-month average and median sale prices both showed no change compared to the previous year. 

However, the year-to-date comparison shows modest softening:

• Average sale price: $568,000, down 5.4 percent
  
  
• Median sale price: $510,000, down 5.0 percent
  
  

These numbers suggest the market is normalizing after the rapid price growth of recent years.

What this means for buyers

Buyers in the Portland Metro area are seeing more options and slightly softer pricing compared to last year. With inventory rising and homes staying on the market longer, there is more time to evaluate properties and negotiate terms.
This is not a buyer’s market yet, but it is far less competitive than the fast-paced markets of the past few years. Well-priced homes are still attracting attention, especially in popular price ranges.

Key buyer takeaways:

• Inventory increased to 4.3 months, creating more choices
  
  
• Year-to-date prices are down about 5 percent
  
  
• Homes are taking longer to sell, opening negotiation opportunities
  
  

What this means for sellers

Sellers are moving into a more balanced market, which means strategy matters more than ever. Buyers now have more options, and homes that are not priced correctly or well prepared may take longer to sell.
The good news is that long-term prices remain stable, and serious buyers are still active—especially for homes that show well and are priced competitively.

Key seller takeaways:

• Inventory is rising, creating more competition
  
  
• Buyers are more selective and price sensitive
  
  
• Proper pricing and strong presentation are essential

Portland Metro real estate outlook

The Portland Metro housing market is moving toward balance in early 2026. Inventory is increasing, prices are stabilizing, and the pace of sales is moderating. This creates a more strategic environment where preparation and local expertise make a real difference.
Buyers have more negotiating power than in recent years, while sellers who price and market their homes correctly are still seeing successful outcomes.

If you are thinking about buying or selling a home in Portland, Beaverton, Hillsboro, Gresham, Lake Oswego, Vancouver, Camas, or surrounding communities, let’s talk. A personalized strategy based on your goals and neighborhood trends can make all the difference.