Portland Metro Market Update: September 2025

Portland Metro Housing Market Update: September 2025

The latest RMLS data shows a shifting Portland Metro housing market as we head into fall. While inventory continues to rise and buyers have more options, prices are holding relatively steady compared to last year.

Key Highlights

• Inventory: September closed with 3.8 months of inventory, up from both August and last September. This marks continued progress toward a more balanced market after years of low supply.

• New Listings: Sellers brought 2,498 new listings to market, a slight 0.9% increase from August but 3.5% lower than a year ago.

• Active Listings: The number of homes available climbed to 6,882, down 2.7% from August but 15.5% higher than in September 2024. More listings mean more choices for buyers.

• Prices:

  • The average sale price came in at $616,900, almost unchanged from last year and 0.6% lower than in August.

  • The median sale price was $545,000, down 0.9% month-over-month and up 0.7% year-over-year.

• Sales Activity:

  • Pending sales reached 2,145, down 5.7% from August but up 3.3% compared to last year.

  • Closed sales totaled 1,825, dropping 9.7% from August but showing a 7.2% annual increase.

• Market Time: Homes spent an average of 62 days on the market, unchanged from August and a week longer than last year.

Takeaway for Buyers

With more inventory and slower price growth, buyers have more negotiating power and a wider selection to choose from. The seasonal slowdown could be a good opportunity to explore listings without the intensity of peak summer competition.

Takeaway for Sellers

Although homes are taking longer to sell, prices remain stable year-over-year. Sellers who price competitively and present their homes well can still attract serious buyers in this balanced environment.

Overall, the Portland Metro market in September 2025 shows steady footing with subtle shifts toward balance—good news for both sides of the transaction.