Sherwood, OR Real Estate Market Report with 2025 Forecast
We stay on top of real estate market activity in Portland’s suburbs and report our findings to you in our Portland Suburb Real Estate Market Reports. To learn more about the Portland metro market as a whole, read our latest monthly report.
This month brings us to the suburb of Sherwood, located roughly 16 miles southwest of downtown Portland within Washington County. Sherwood is a small town (population 20,000) that offers a unique lifestyle within wine country. Its resident winemakers include Ponzi Vineyards, Alloro Vineyards, and Blakeslee Vineyards, to name a few. Old Town Sherwood in the heart of the city is a lovely downtown that includes antique shopping, great food, coffee, specialty shops, and historical buildings. It hosts a number of annual events, including the Sherwood Robin Hood Festival and is also home to a location of Cooper Mountain Ale Works. Sherwood offers 13 parks for the community to enjoy and has been named one of the safest suburbs in the Portland metro area.
Below we will break down the most influential factors on housing market performance in Sherwood, Oregon.
Sherwood Housing Inventory is Increasing
Housing inventory in Sherwood is currently at its highest point in the last several years and is continuing to increase. Each year in the Portland metro real estate market, the inventory of available homes begins increasing in the Spring and continues to rise through the end of the year. As you can see on the graph below, inventory in Sherwood has followed this pattern over the last several years. We should see home inventory in this area only continue to increase for the foreseeable future as fewer buyers actively search for homes and more new properties continue to be added to the market.
Sherwood Real Estate Prices are Stable
Real estate prices in Sherwood, which we determine using price per square foot, have fluctuated very little over the past year. The Portland metro housing market operates on a seasonal cycle: a new wave of home buyers enters the market each Spring, creating competition for available homes and driving up prices. But as demonstrated on the chart from Fidelity below, home prices in Sherwood have remained relatively unaffected by seasonal variables over the last few years (with the exception of 2022 when prices did increase significantly in the Spring). Prices in Sherwood decreased slightly near the end of Spring, and with home inventory currently increasing, we can expect stable or somewhat decreasing prices in this suburb over the second half of the year.
The Portland metro area housing market saw an overall decrease in average prices in 2023, but Washington County, which includes the suburb of Sherwood, was one of the few exceptions. Homes in this area underwent a 1% price increase compared to the same time period in 2023. With the Spring seller’s market coming to a close and new homes being added to the market daily, prices will likely decrease slightly or continue to remain steady.
Sherwood Average Days on the Market
At the beginning of March, the average number of days for a home to stay on the market in Sherwood reached a peak for the year and was followed by a steady decrease. Currently listed homes in Sherwood are remaining on the market for an average of 85 days, which is slightly longer than at this time last year but much higher than in 2022, as you can see on the chart below. While Spring is typically the most productive season for the Portland metro real estate market, Sherwood’s consistent drop in market time points to continued buyer activity. Using the market pattern of 2023 as a guide, we can expect this decline to persist into the summer months.
Sherwood, Oregon Homes for Sale
Browse all Sherwood homes for sale using the interactive map on Portlandhomesforsale.com.
Sherwood, Oregon 2025 Real Estate Forecast
The number of available homes on the market in the suburb of Sherwood has reached its highest level in recent years and is still rising. While the market is beginning to cool down and prices are stable, the reduction in market time for listed homes signals that there are still active buyers on the market. We expect Sherwood’s inventory of homes to continue to grow throughout the rest of the year, and home prices to decrease slightly as Fall approaches.
The 2023 real estate market was suppressed in the entire Portland metro area as a result of high mortgage rates and ongoing inflation. With the slightly lower mortgage rates available this year, we expect the Sherwood market to begin to build momentum toward a productive selling season in the Spring of 2025.
We forecast prices to rise in Sherwood, Oregon in 2025 by 5%, due to the likely interest rate drops that are expected to arrive and the continual strong performance of Portland’s suburbs.
Ready to Buy or Sell Your Home in Sherwood, Oregon?
Whether you are looking to buy or sell, put our experience on your side. Contact our top 1% seller’s agents to benefit from our optimized marketing strategy for the best possible experience in selling your home. Likewise, if you’re interested in making the move to Sherwood, our top 1% buyer’s agents would be happy to help guide your search for the perfect home. Give us a call at 503-714-1111. We’d love to connect!