Portland Real Estate Market

The Portland real estate market is always changing. It takes a very busy real estate agent, top 1% in Portland, to keep a finger on its pulse.

Bookmark this page for monthly Portland real estate market updates, annual forecasts, Portland condo market updates, HOA reports, Portland population rates, local short sale and foreclosure updates, and more.

If you’re thinking of selling your home in the next twelve months, Stephen would love to tour your home. Call today to set an appointment.

Stephen FitzMaurice, Realtor
4% Max. to Sell a Home
Cancel Anytime Policy
Licensed Since 2003
503-714-1111

If you’re considering buying a home in the next twelve months, Kami Price, buyers specialist would love to hear what you’re looking for. Call today to set an appointment.

Kami Price, Realtor
Represented Hundreds of Buyers
Licensed since 2004
503-773-0000

portland real estate winter

Portland Real Estate Market, December 2022

November 9, 2022

The big story for the Portland real estate market as we approach December 2022 is the lack of sales due to home buyers pulling back. While that is the headline, we will get into all the statistics behind the drop in sales here. Inventory is High, But Finally Dropping Now inventory isn’t falling as fast as it did in 2020 or 2021, but inventory is finally starting to drop after rising since Feb. Inventory should continue to drop as we approach the holidays, but will likely stay higher than in recent years. Lower inventory is important. Right now buyers are pulling back and there are simply more homes for sale than there are buyers. Buyer Traffic is Colder than Usual,...


portland foreclosure real estate market

Portland Foreclosure Market and 2023 Forecast

November 4, 2022

I started selling homes in 2003 when the Portland real estate market was starting to get hot. I sold foreclosures and short sales after the 2008 crash until they statistically disappeared by 2016. The amount of available foreclosure and short sale homes for sale dropped to less than 1% in Portland, Oregon in 2019 and stayed that way through 2021 (despite the pandemic). So far in 2022, around one tenth of 1% of detached homes in Portland sold as foreclosures. However, with the recent dramatic increase in mortgage rates and current economic turmoil many are expecting foreclosures to rise in 2023 or 24. Keep in mind that foreclosures do not happen quickly. Notice number of 2008 foreclosures in the below...


portland real estate fall market

Portland Real Estate Market Update, November 2022

October 17, 2022

In recent updates, we’ve reported that Portland’s real estate market has shifted from the hot seller’s market we’ve been navigating for the past two+ years into buyer’s market territory. Inventory has climbed and prices are starting to drop. While it is normal for fall to be a better season for home buyers and spring to be a better season for home sellers, the drop this year has been drastic due to rising interest rates and has dampened everyone’s forecasts for 2023. Read our full 2023 Portland real estate forecast here. Portland Real Estate Activity Continues to Decrease To get more specific about the across-the-board decreases we’re seeing, the most recent RMLS report shows that at the end of September 2022, new...


portland condo market 2023

Portland Real Estate Condo Market 2023 Forecast

September 30, 2022

Buying a condo in Portland means prioritizing a special list of considerations. Delving into the condo lifestyle also means more affordability and more freedom to spend your time the way you want—for example, no yard upkeep or high-cost maintenance and repairs. HOA Costs for Portland Condos are Up in a Big Way It is not possible to simply look at Portland condo prices and compare them to detached single family homes. HOA fees have increased 20% since 2020 in Portland, Oregon (we’ve been keeping track). Check out the current average monthly HOA fee you can expect to pay when owning a condo in Portland in 2022. We provide a regular annual report. We also provide a way to search for...


Portland Real Estate Market, October 2022

September 19, 2022

The national real estate market has seen unprecedented times over the past two years, and the Portland real estate market is no exception. From monthly market reports for Portland proper to updates for the city’s surrounding suburbs, we’ve consistently tracked how the real estate market has unfolded to give you a clear idea of the trajectory of the industry. Check out our full 2023 Portland real estate forecast here. Portland Real Estate Activity is Decreasing Across the Board According the the most recent RMLS report, new listings saw a 13.2% decrease in August 2022 ( to 3,209) from the same time in 2021. With buyers taking a pause, in light of rising interest rates and a predicted recession, pending sales...


2023 portland real estate market forecast

Portland, Oregon Real Estate Market Forecast for 2023 – Updated

September 5, 2022

The Portland, Oregon real estate market has had a tremulous 2022 with soaring prices combined with historically low inventory in quarter one and two, and then soaring inventory with stagnant prices in quarter three (and significantly fewer closed sales, reduced homebuyer activity) and soon to be falling prices in quarter four. Of course, the main shift in the market came from rising mortgage interest rates. There is a lot of concern in the real estate industry with a focus on what to expect in 2023. We initially wrote this forecast in early Sept. 22, and will keep those results and update them, giving a final 2023 real estate forecast, now that we are closer to end of 2022. We’ll start...


HOA Fees Have Inflated 20% in Portland, Oregon since 2020

August 24, 2022

Many condo complexes and high rises in Portland, Oregon have high monthly HOA fees can cost as much as half the monthly mortgage payment (or more). Many condos and townhomes now have HOA fees well over $1,000 a month. Needless to say, it is important to pay attention to HOA fees when buying or selling real estate in Portland, especially considering recent inflation driven HOA costs. HOA Fees are important. You can lose your home. It is crucial to have some sort of way to compare HOA fees within a greater metro. If you’re living in a HOA now, how would you know if your HOA is charging too much (or even not enough)? If you’re shopping for a condo...


Portland Real Estate Market Update September, 2022

August 19, 2022

Continuing its turn away from the hot seller’s market we’ve been in for the past two years, the Portland real estate market is still experiencing decreases pretty much across the board, except for home prices (not yet anyway), based on numbers from the most recent RMLS report. You can track how the Portland real estate market has looked so far this year by checking our past monthly reports and see how this month compares. Across the Portland metro area, new listings in July 2022 decreased 11.8% to 3,763 from the 4,267 listed in July 2021, and pending sales decreased 27.1% to 2,445 from the 3,354 offers accepted in July 2021. Closed sales also saw a decrease (31.1%) to 2,369 from...


Portland Real Estate Market Update August, 2022

July 22, 2022

Now that we’re into summer, a time when real estate sales typically increase, the biggest news is that we’re starting to see the slow turn toward inventory exceeding buyer traffic that we wrote about in July, 2022. With significant decreases in both pending sales (-27.5%) and closed sales (-16.8%) across the city, and inventory increasing 11.5% in the past month, this is the long-awaited shift from a scorching hot sellers market. All said, though, we would typically expect to see an inventory increase this time of year. The notable difference is the decrease in sales across the board. Portland Metro Home Prices Continue to Increase While Sales Decrease The general consensus in the real estate world is that prices will...


portland real estate

Top 5 Portland Real Estate Market News Stories so Far 2022

July 20, 2022

Keeping an eye on the market—both nationally and locally—is what we do. Especially over the past couple of years. It’s been hard to anticipate real estate market trends because we’ve been in—still are in—times we’ve never seen before. Now that we’re half-way through 2022, we wanted to provide an update on Portland’s real estate market trends, compared with national models, and see what it all might mean for the remainder of the year. While there’s some disagreement about how the market will pan out for 2022 nationally, we can look at the big picture and draw some conclusions about what might happen here in Portland. Here, we offer the top five real estate news stories at 2022’s half-way mark to...