Sandy, Oregon Real Estate Market Report with 2025 Forecast
Each month we highlight one of Portland’s many unique suburbs and share our assessment of its housing market as a guide for your real estate decisions. You can find all of the suburbs we have covered in our Portland Suburb Real Estate Market Reports. Or you can read our latest monthly report for an overview of the entire Portland metro real estate market.
This month we’ll focus on the suburb of Sandy, which is located roughly 30 miles east of downtown Portland within Clackamas County. Named for the nearby Sandy River, this suburb acts as the western gateway to the Mount Hood Corridor. A small town with a population of roughly 13,000, Sandy is situated in the foothills of the Cascade Mountain Range and offers its residents a more rugged outdoor lifestyle. The town has a number of beer spots, including Boring Brewing Company and The Beer Den. Sandy has a thriving historic district with plentiful shops, food, and coffee to enjoy. The suburb of Sandy also offers as many as 16 parks for community recreation. As a place to explore on the way to Mount Hood or a beautiful place to call home, the city has plenty to offer.
Let’s take a look at the numbers that are shaping the housing market in Sandy, Oregon.
Sandy Housing Inventory is Rising
The inventory of available homes in Sandy has been steadily rising since May and is continuing its upward trajectory. Our local real estate market operates on a seasonal cycle, with the majority of home sales occurring in Spring and home inventory beginning to grow after sales peak and continuing to rise through the Fall season. As demonstrated on the graph below, housing inventory in Sandy has continued to increase throughout the Summer and Fall months over the last few years (with the exception of 2023). Now that the active selling season has come to an end, the inventory of listed homes in Sandy should continue to increase as fewer interested buyers look for homes and new properties continue to be listed on the market.
Sandy Real Estate Prices are Steady
Home prices (calculated by price per square foot) in Sandy have remained fairly stable for the past 12 months and are now slightly below prices in July of 2023. Normally we expect to see a significant increase in prices during the Spring season throughout the Portland metro real estate market, but as you can see on the chart from Fidelity below, price increases in the suburb of Sandy have only been modest during those months, with the exception of 2022. As we move away from the Spring seller’s market and more homes continue to be listed, home prices in Sandy will likely begin to decrease slightly over the next few months.
Homes in the greater Portland metro area experienced an overall price decrease in 2023, but the suburb of Sandy (and Clackamas County where it is located) has increased in price by an average of 0.9% over the last 12 months (compared to the 12 months prior). With the tendency in recent years for prices in this area to change gradually and fluctuate very little, we should see a slight decrease in prices in the coming months and maintained overall price stability through the end of the year.
Sandy Average Days on the Market
In February, listed homes in Sandy reached the highest number of days on the market in recent record, after which the number of days began to steadily decrease. Homes in Sandy are now remaining on the market an average of 91 days, which is still higher than at this time period in the last three years (as shown on the chart below). Homes typically sell fastest during the Spring season in the Portland metro housing market, but this continued drop in market time signifies that homes in Sandy are continuing to sell. Listed homes in this suburb may continue to experience decreasing market time in the near future due to the lingering effects of the recent seller’s market. However, with inventory currently increasing, the greater supply of homes will bring a gradual return to lengthening days on the market.
Sandy, Oregon Homes for Sale
Browse all Sandy homes for sale using the interactive map on Portlandhomesforsale.com.
Sandy, Oregon 2025 Real Estate Forecast
As Summer progresses and we move further away from the height of real estate productivity that comes with Spring, the inventory of available homes in Sandy is steadily rising. At the same time, home prices in Sandy are currently stable and market time for listed homes is continuing to decrease. These two factors – static home prices and a decrease in market time – reveal that homes are still selling. But with the cooling of our local real estate market that comes with Summer, we can expect prices in Sandy to decrease as inventory continues to grow over the next few months.
The conditions that negatively impacted the Portland housing market in 2023 continued to influence market performance this year, namely high mortgage rates and ongoing inflation. We expect that the somewhat lower mortgage rates in 2024 will help the Sandy housing market begin to rebound as we approach the Spring of 2025. There is a lot of hope for a fall rate drop, or at least one before the next 2025 spring season, because of that and considering Sandy rose a tiny bit in appreciation in 2023, we forecast the Sandy, Oregon real estate market to appreciate 3% or more in 2025.
Ready to Buy or Sell Your Home in Sandy, Oregon?
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