Portland Metro Market Update: November

Portland Metro Housing Market Update for November 2025

As we settle into the cooler months, the Portland Metro real estate market is showing the usual signs of seasonal slowing, but it is also holding steady in some important ways. If you are thinking about buying or selling soon, here is a friendly breakdown of what is happening right now.

Inventory Slows for Winter, but Buyers Are Still Active

New listings dropped to 1,437 in November, which is pretty typical for this time of year. People tend to wait for spring to list, so fewer homes on the market are no surprise. What is interesting is that buyers are still very present. Pending sales actually went up 2.9 percent compared to last November. Even with the holiday season approaching, well priced homes are still getting strong attention.

Closed sales came in at 1,520. That is lower than last year, but again, November is usually quieter. The overall takeaway is that demand remains solid even while supply tightens for winter.

Home Prices Stay Steady

Home values are holding firm. The average sale price for November was just under six hundred thousand dollars and the median was about five hundred thirty five thousand. Looking at the longer view, the average sale price over the past year is up 0.3 percent and the median is up a little under one percent. These are modest increases, but they show that the market continues to move forward rather than softening.

Year to date, prices are also staying consistent. The average rose from about six hundred eleven thousand to a little over six hundred thirteen thousand. The median climbed from five hundred forty five thousand to just under five hundred fifty thousand.

More Breathing Room for Buyers

Inventory rose to 3.8 months in November, which means buyers now have a little more space to look around and compare options. Total market time also stretched to 72 days. That is not unusual for late fall, but it does highlight how important good pricing and presentation are for sellers right now.

It is also worth noting that the Portland Metro region has a lot of listings that are not yet move in ready. When you look only at homes that are fully purchase ready, true inventory sits at 3.5 months.

Affordability Snapshot

Affordability has been a major topic throughout the year. According to the latest numbers, a household earning the median income of $124,100 can afford about 93 percent of the mortgage payment on a median priced home, using a 20 percent down payment and a 30 year fixed rate of 6.6 percent. While it is not perfect, it does show some stability.

A Quick Look at the Year So Far

From January through November 2025:

• New listings are up 2.7 percent

• Pending sales are up 1.3 percent

• Closed sales are up 1.1 percent

It has been a steady year with gradual growth rather than dramatic shifts.

What This Means for Sellers

If you are selling this winter, buyers are still out there, but they have more choices than they did earlier in the year. Homes that are well cared for, properly prepared, and priced with strategy continue to attract strong interest. With longer market times, the details matter more than ever.

What This Means for Buyers

This season may be a good window for you. Inventory is higher, market time is longer, and prices are level. Many buyers prefer to wait until spring, which means you might face less competition right now. If you have been waiting for a calmer moment to start your search, this could be it.

Thinking About Your Next Move

Every neighborhood and price point tells its own story. If you want help understanding what these numbers mean for your exact area or goals, I am always happy to walk through the details with you. Whether you are planning ahead for spring or ready to make a move now, I can help you navigate your next steps with confidence.