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

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...

single level homes sell faster

Single Level Homes Sell Faster and for 19% More, 2022 Report

July 1, 2022

Brought to the forefront of American living shortly after World War II, ranch-style homes grew in popularity for their laid-back, easy-living vibe with flowing, open floor plans and easy access to the outdoors. Then came the 1980s. Ranch homes temporarily lost their appeal with homeowners during the building boom of this decade after the country had enjoyed economic growth. People had more money, and they wanted more. What came of this period were bigger homes with less-than-imaginative facades, fake chimneys, cathedral ceilings, and sometimes garish interiors. As with any trend or fashion that runs its course and fades from popularity, it usually comes back around into favor with the masses. As the adage goes, “everything old is new again,” and...

portland housing market

Portland Real Estate Market Update, July 2022

June 20, 2022

As we move into summer, we’re looking at how the real estate market is shaping up in Portland. Rising interest rates have cooled off a red hot sellers market, and comparing May 21 with May 22, 16% less homes went pending and closed sales dropped 8.4%. However, inventory remains low along with average market time, and despite a higher number of active price drops, home prices continue to climb (for now). We looked at the entire Portland metro area and Portland proper, then focused in on each quadrant. Here’s what we found. Overall Home Prices Continue to Climb For the entire Portland Metro area, the market this past month saw 3,853 new listings, 2,916 closed sales with an average sale...

Willamette Valley Riverfront Real Estate Guide

June 6, 2022

Does relaxing on your back deck or yard to the sound of the Willamette River flowing by sound good to you? If so, you’ll want to keep reading. Many people dream of living the waterfront lifestyle, but finding available riverfront real estate can take some work. We already created a comprehensive guide for riverfront real estate along the Columbia River, this article will focus on the banks of the Willamette River. To do some of the necessary leg work for you, we did an extensive search to find Willamette River riverfront property in Oregon along the Willamette Valley. We found a plethora of options from single-family homes to condos to floating homes in a variety of price ranges. We start at...

moving out of portland oregon

Are People Moving out of Portland? Population 2022 Update

June 3, 2022

What has happened to Portland over the past two years in terms of population growth? While it may seem to reason that with all Portland has endured—social unrest and the riots of 2020 overlapping the pandemic—residents would have left in search of serenity or safety. The statistics lead us to telling two different stories within the Portland metro. The population growth of Portland suburbs (the whole metro) and population loss within the official City of Portland boundaries (the city proper). The U.S. Census Bureau for Portland city proper says Portland (not its suburbs) lost 11,000 residents from July 2020 to July 2021. County by county research below was done by the fantastic PSU population center and results go through summer...

portland rental market

No Portland Homes for Rent, Only Apartments

June 3, 2022

As a licensed real estate agent serving the greater Portland metro area since 2003, my practice, like most agents serving the area, involves representing home buyers and sellers in the real estate market. (If you’re looking for a rental, it is best to lookup property management companies in the area you want to live in.) However, I’ve helped numerous landlords sell their rentals or purchase new ones and so have become very familiar with the ups and downs of the Portland rental market. One of the local trends I’ve felt over the past few years is the ongoing disappearance of detached homes available for rent in Portland. Recently, new research reports have confirmed this trend. Single Family Home Rental Trends...