By Tracey Henkels, August 7, 2025
Portland Real Estate
Hi there! I’m Tracey Henkels, Principal Broker with the Rooted Realty Group at Living Room Realty. Here is your Portland real estate market update for early August 2025.
Let’s look at a snapshot of the market. We’ll look at how it connects to a bigger conversation about affordability and how things are shifting around homeownership in Portland.
Active Listings
In mid-July, we had just over 5,000 active listings across the Portland metro. This is the highest level of inventory we’ve seen in several summers, up 32% year-over-year. Meanwhile, price reductions affected around 44% of active listings. This is a strong signal that proper pricing and preparation matter more than ever.
Homes are taking longer to sell. The average time on market is now 44 days, up from about 32 days a year ago. For buyers, that means more time to decide and sometimes more leverage to negotiate. But properties priced well and prepped professionally are still attracting strong interest and multiple offers.
Affordability
Now, let’s talk about affordability. This is a topic that’s been front of mind in Portland for years. Very exciting news! In July of this year, the Portland City Council voted to temporarily exempt new residential construction from System Development Charges (SDCs) for three years. This unanimous decision is part of the city’s 5,000 Unit Challenge, a program designed to encourage housing development and address the city’s housing affordability crisis.
We are starting to see real, tangible middle housing options hitting the market in the past year. If you’re not familiar, middle housing includes duplexes, triplexes, fourplexes, cottage clusters and ADUs — housing types that fall between single-family homes and large apartment buildings.
And thanks to Portland’s Residential Infill Project that came into full effect in June of 2022, we’re seeing these homes pop up in neighborhoods across the city. They’re creating opportunities at lower price points, often $250-$300,000 less than traditional detached homes. RIP is a zoning reform initiative that allows for the creation of more diverse housing options on lots previously restricted to single-family homes
Make A Move
At Rooted Realty Group, we stay on top of these shifts so we can help our clients navigate what’s next. Whether that’s finding the right space, selling their home or building wealth through homeownership in new ways.
If you’re curious about the world of middle housing— or want to talk through your plans to make a move, let’s connect. We’re here to help you find your home, community and sense of place.
Tracey Henkels
Principal Broker | Earth Advantage | OR
She/Her
Tracey grew up rooted in the rhythms of her family’s Iowa apple orchard, where rising with the sun instilled a deep work ethic and a grounded, thoughtful approach to life. That Midwestern foundation shapes the values that Tracey brings to her clients: compassionate guidance, perseverance and a commitment to making a difference for the people she serves.
With a degree in Architecture from Iowa State University and six years of experience in the architecture field, Tracey has a keen eye for design and a deep understanding of how homes are built—literally and metaphorically. In 2004, she transitioned into real estate, combining her technical expertise with a passion for helping people find a sense of sanctuary and belonging.
Tracey is known for her integrity, patience, and optimism, making her a trusted advisor and advocate for our clients. She thrives on helping people navigate important transitions, whether buying their first home, selling a cherished property or finding the perfect place to put down long-term roots.
Tracey is deeply connected to her community and is passionate about making a meaningful impact beyond real estate. She’s been a resident of the Hosford-Abernethy neighborhood in SE Portland since 2002; you’ll often find her in her garden nurturing vegetables and flowers, hosting neighbors and friends, exploring Oregon’s great outdoors, or planning her next travel adventure. Through every step of her clients’ journeys, Tracey embodies the grounded guidance and thoughtful care that define Rooted Realty.
Tracey works as a team, alongside Kelsey Burkett, Broker Licensed in OR. You can read more about them on their website: Rooted Realty.- T: 503-715-6140
- traceyhenkels@gmail.com
