Market Update: Portland, Oregon

As of April 2025, Portland's housing market demonstrates robust activity and competitiveness. Here's a concise overview:

🏡 Portland Housing Market Overview – April 2025

• Median Sale Price: $521,000, marking a 4.2% increase year-over-year.

• Homes Sold: 692 homes, up 9.8% from April 2024.(Redfin)

• Median Days on Market: 16 days, slightly longer than the 13 days observed last year.

• Price per Square Foot: $331, reflecting a 0.8% annual increase.

🔥 Market Competitiveness

Portland is characterized as a "very competitive" market, with a Redfin Compete Score of 75 out of 100. Key insights include:

• Multiple Offers: Many homes receive multiple offers, some with waived contingencies.

• Average Sale Price: Homes typically sell for about 1% above the list price and go pending in approximately 15 days.

• Hot Homes: Highly sought-after properties can sell for about 4% above the list price and go pending in around 5 days.

📈 Regional Highlights

• Southwest Portland: Median sale price of $690,000, up 10.4% year-over-year.

• North Portland: Median sale price of $475,500, up 4.5% year-over-year.

• Northeast Portland: Median sale price of $569,900, down 8.8% year-over-year.

• Downtown Portland: Median sale price of $308,500, down 11.8% year-over-year.

Overall, Portland's housing market in April 2025 is marked by rising home prices and swift sales, indicating strong demand. However, regional variations exist, with some areas experiencing price declines.