The #1 Question I Get Asked as a Realtor (And My Honest Answer)

This is hands-down the most common question I get as a realtor:

“So… how’s the market?”

It usually comes up during small talk at a backyard BBQ, in the checkout line, or really anytime someone finds out I’m in real estate. It’s almost always the second question after “What do you do for a living?” And honestly—I get it. It’s such a fair question.

But the real answer? It’s never as simple as “it’s hot” or “it’s slow.”
(Warning: if someone gives you a one-liner answer, you might want to pause and dig deeper…)

So, I thought I’d take a moment to share what I actually think when you ask me how the market is. Because the truth is—it depends. The market shifts based on who you are, what your goals are, and where you are in life.

Let’s Look Back for a Second…

Remember the 2020–2021 market frenzy? Buyers were submitting offer after offer, competing against 15+ others. It wasn’t uncommon to see inspections waived, offers coming in $100K over asking, and buyers covering $25K+ appraisal gaps.

Sure—buyers who locked in at those low interest rates are sitting on gold when it comes to financing. But I’ve also worked with some who’ve had to sell just a year or two later due to life changes. And they’ve definitely felt the sting of what it took to get their foot in the door back then.

The Real Estate Market Isn’t Just One Thing

Think of the market like a farmer’s market (stick with me here):

• Some people are shopping for produce.

• Some are selling candles.

• Others are just strolling to see what’s out there.

So if you ask someone, “How’s the market?” at a farmer’s market, the answer depends—are you buying? Selling? Browsing?

It’s the same in real estate. The market feels totally different depending on your role. That’s why we hear terms like “buyer’s market” or “seller’s market”—because no market is inherently good or bad. It just depends on the opportunities available and who’s stepping into them.

Even within the same category, experiences can vary widely. A first-time buyer using their savings for a down payment is playing a very different game than an empty-nester selling their long-time home and downsizing. Same market, totally different approach.

What I Pay Attention to (Beyond Just Price)

When someone asks me how the market is, here’s what I really look at:

• Inventory – How many homes are actually available that fit your needs?

• Days on Market – Are homes flying off the shelf or sitting for weeks?

• Buyer Demand – Are people showing up to open houses? Making offers?

• Interest Rates – What impact are they having on affordability and decision-making?

But more than numbers, I think about the real conversations I’m having every day.

Like the couple who didn’t think they could buy this year—until we got creative and made it happen. Or the seller who was nervous their home wasn’t competitive, but with the right prep and pricing, it sold quickly and for a strong price.

So… How Is the Market Right Now?

Here’s what I’ll say:

As of early 2025, the market in Portland (and surrounding areas) is shifting—but not stalling.

• Well-priced, turn-key homes in desirable locations are still moving quickly—often with multiple offers.

• Buyers are more intentional and strategic now. (No more wild, FOMO-fueled offers.)

• Homes that are sitting? Usually those priced with 2021 expectations, where sellers haven’t yet adjusted to today’s more balanced market.

• Sellers who are prepared, willing to put in a little work to present their home well, and patient with the process—are still winning.

• There’s real opportunity right now, especially if you’re willing to think creatively about homes that have been sitting a little longer.

But again—it all depends. On your timing. Your budget. Your risk tolerance. Your goals. And what’s happening in your life.

My Real Answer?

When someone asks, “How’s the market?”
I’ll usually respond with: “It depends—what’s got you curious?”

Because I don’t just want to toss out stats and blanket statements. I want to help you understand what the market means for you. And give you real information that actually supports your decision-making.

If you’re even thinking about a move this year—or just curious what your options might look like—let’s talk. No pressure. I’m always happy to be a sounding board, a resource, or a second opinion.

Let’s make the market make sense for you.

Your friend & Realtor,

Sofi

Sofia Gallamore

Broker | OR & WA

  SOFIA GALLAMORE Licensed Broker in Oregon & Washington Buyers Agent As someone who loves community, good food, and time spent outdoors, I’m proud to help others find their place here in the Pacific Northwest. I specialize in working with first-time home buyers, those looking to navigate purchasing a home while needing to sell their current, and folks exploring creative real estate investment avenues—like rentals and other income-generating properties. For my clients, I bring a deep understanding of the Portland market, and click particularly well with those who may appreciate a patient, data-driven, low-pressure approach. I attended Milwaukie High School (Mustang bred!) and stayed local to attend Oregon Health & Science University-Portland State University’s School of Public Health. There, I attended the Honors College and obtained my B.S. in Applied Health and Fitness. I loved my studies at university (and still incredibly passionate about all things health & wellness), but my part-time job as a leasing agent opened my eyes to the world of Property Management and Real Estate — and I was hooked. From there, I spent a few years in property management and then obtained my real estate license. Having grown up in Milwaukie, Oregon, and now living in Portland, I bring local expertise and a love for this area to every interaction. With a blend of real estate know-how, Airbnb/Property Management experience, and a genuine passion for helping others, I’m excited to guide you through your Portland real estate journey. When I'm not meeting with clients, you’ll find me exploring the outdoors, caring over my houseplants, or at the gym (my primary outlet for stress!). At Living Room Realty, I’m fortunate to work alongside a team of quality agents who reflect the best the industry has to offer. With the support of decades of committed experience, the clients we represent feel supported, educated, and advocated for. We are here to listen, answer questions, and provide honest, thoughtful guidance—whether you're buying your first home, making a smart investment, or simply exploring your options.

The amazing people that make up my team:

  Jessica LeDoux | Lead Buyers Agent | Broker, Licensed in OR | jessica@livingroomre.com Jenessa VanZutphen | Buyer Operations Manager | Broker, Licensed in OR | jenessa@livingroomre.com Kim Parmon | Lead Listing Agent | Principal Broker, Licensed in OR | kim@livingroomre.com Andee Zeigler | Listing Operations Manager | Principal Broker, Licensed in OR | andee@livingroomre.com Karim Alaeddine | Operations | Principal Broker Licensed in OR | karim@livingroomre.com

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• T: 503-757-7737
• sofi@livingroomre.com