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

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

Portland, Oregon Real Estate Market, October 2023 Report

September 22, 2023

The market has turned to favor buyers as housing inventory increases while the number of pending sales continues to decrease. The corresponding decrease in prices resulting from high supply and a lack of demand are creating ideal buying conditions that will benefit buyers until inventory begins to drop again (likely) in October. Let’s take a look at the numbers that are shaping our current real estate market conditions. Portland Home Buyer Traffic Remains Lukewarm As you can see illustrated on the RMLS buyer traffic report, buyer traffic has picked up slightly in September after a period of decline through the month of August. Levels of traffic continue to remain in the lukewarm range as they have since March with little...

rmls portland

Portland Real Estate and the RMLS

September 15, 2023

You hear us mention the RMLS on this blog when we cover the Portland Real Estate Market monthly and reference the RMLS Market Action report. But what is RMLS, and what can they do for you, the Portland area real estate buyer or seller? RMLS stands for Regional Multiple Listing Service. Every region in the US has one, and RMLS is specific to Oregon and Southern Washington. RMLS used to be the largest Realtor owned multiple listing service in the Pacific Northwest, but it is no longer Realtor owned. Did you know? Oregon has three major MLS systems (RMLS, WVMLS, MLSCO) and Washington has at least two (RMLS and NWMLS). Multiple listing services were created so real estate agents could...

portland oregon real estate market forecast 2024

Portland Real Estate Market Forecast 2024

August 25, 2023

Licensed since 2003, with over 2,000 home sales, I write a Portland real estate market forecast annually. To be more specific, I write one in the late summer and then I updated in late winter, just before New Year. Most years I am able to predict fairly accurately what is coming in the next year for the Portland real estate market, mainly because I write monthly reports on our market in addition to many other research reports including the best months to sell or to buy a home in our area. Of course, we were all surprised by the events that unfolded in 2020 and as a result how hot the real estate market got in 2021 through the first...

Portland, Oregon Real Estate Market, September 2023 Report

August 18, 2023

Decreasing buyer activity and increasing inventory is leading to price drops, signaling the beginning of the end of the seasonal spring and summer seller’s market. Both trends will likely continue – leading to the favorable buying conditions of more available homes and less competition – throughout September, until inventory typically starts to drop again in October (often a short second second wind in the market before the major holidays hit). Let’s get into the current Portland real estate market numbers. Portland Home Buyer Traffic is Lukewarm As you can see from these the weekly RMLS buyer traffic report above, buyer activity has remained somewhat steady (but lukewarm) this summer and is likely to drop further as summer ends. We created the...

portland zip code map

Top 5 Portland, Oregon Zip Code Maps

July 27, 2023

Most people don’t think about the importance of zip codes when house shopping. However, understanding how these numeric representations of cities, their neighborhoods, and their districts work can play a big part in gaining valuable information when deciding where to live. Let’s first take a look at how zip codes work. How Do Zip Codes Work and What Do They Tell Us? The necessity for zip codes to achieve expediency and accuracy in mailing anything in the U.S. is common knowledge. That was the U.S. Postal Service’s intent in 1963 when they first instituted the use of the five-digit number at the end of any address to which a letter or package would be sent. Finding ways to streamline delivery...

Portland, Oregon Real Estate Market, August 2023 Report

July 24, 2023

June’s balanced market led to growing inventory and a decline in buyer activity in July, creating the conditions that will lead to a buyer’s market as soon as mid-August, but likely in September. A relatively reasonable rate of housing inventory and a decent amount of buyers means sellers can still enjoy the last lingering effects of the spring market – which is reliably the most active selling season of the year. We expect inventory to continue climbing in August and September as the number of active buyers continues to decrease, shifting the market to favor home buyers as fall approaches. Portland Home Buyer Traffic is Down from Spring, but Steady this Summer In the two buyer traffic reports generated by...

portland condos

HOA Fees up 30% since 2020 in Portland, Oregon

June 30, 2023

This is our fourth year calculating average HOA fees in Portland, Oregon. Last year we were surprised to report that HOA fees had jumped a whopping 20% in the city over a short two year period. It is no longer uncommon to see monthly HOA fees top $1,000 a month. These fees are not trivial and are extremely important. In Oregon, the HOA is allowed to foreclose on your property to recover missing HOA payments. Why do HOA fees vary so widely? Bad planning. New construction homes and condos often start with really low HOA fees to attract buyers, along with the idea that no major maintenance will come up anytime soon. Then, if the HOA fails to increase their...

real estate news

Top 10 Real Estate News Websites

June 23, 2023

It can be surprisingly difficult to find timely and accurate real estate news, especially if you’re looking for accurate local data specific to your property. Most of the major news sites (and we won’t name names) focus on the sensational, a celebrity’s home sale, a shocking statement about how the economy could impact the real estate market next. I’ve been licensed since 2003, and since then have kept my eye out for good local and national sources of real estate news. The task hasn’t been easy, but over the years I’ve found a number of reliable, or at least interesting sources. Today I’m going to share my top list with you. I’m going to break it down into national and...

Top 5 Portland Maps for Sustainability and Livability

June 19, 2023

Portland is a city that values sustainability. In fact, Portland emerged as the most sustainable city in the country in a recent list by ParkSleepFly, which ranked cities according to renewable energy use and air pollution, among other factors. It’s no secret that Portland has been on the forefront of urban movements to promote sustainability for decades. And Portland continues to set an example of caring for the environment while encouraging its citizens’ enjoyment of it. From biking to hiking, walking around your neighborhood to traveling out of town, Portland wants people to be outside enjoying the natural world and working to care for it at the same time. Unsurprisingly, there are several mapping tools that highlight the city’s sustainability...

Portland, Oregon Real Estate Market, July 2023 Report

June 16, 2023

After the seasonal selling peak in May, inventory continues to increase in June, leading to an increase of days on the market. We are currently experiencing a more balanced market, with slowing buyer activity, rising (but still low) inventory – conditions that can still benefit buyers and sellers. Looking ahead to July, we expect a continued increase in inventory, perhaps a relatively stable buyer’s pool, and a turn toward a buyer’s market before we hit late summer or perhaps by this fall. Buyer Traffic has Declined from a May Peak RMLS generates the buyer traffic reports shown above, which provide a snapshot of buyer demand from one week to the next. Here you see reports for two weeks in May where...