By Jacob Weigel, July 10, 2025
Find out what’s happening in the Portland real estate market for early-July 2025.
Hi, I’m Jacob Weigel, a broker with Living Room Realty, here with your early July 2025 Portland market update.
It’s officially summer in Portland—the roses are blooming, the patios are buzzing, and the real estate market is, well… revealing some interesting patterns. Let’s take a look at what happened in June and what it might mean for buyers and sellers heading into the second half of the year.
Here’s the big picture in Portland
Inventory climbed to 3.6 months—the highest we’ve seen so far in 2025. Market time ticked down slightly to 51 days, which tells us that while homes are still sitting longer than they did a year ago, serious buyers are out there—and they’re writing offers.
The average sale price across the metro rose to $634,400, up 1.7% from May and 1.2% year-over-year. The median price held steady at $570,000. But here’s where it gets interesting: closed sales are down 4.5% from last year, while pending sales are slightly up. That signals a market where buyers are active—but cautious—especially with affordability still a major concern.
Affordability
According to the NAR index, a median-income household in Portland (around $124,000/year) can now afford just 87% of a mortgage payment on a median-priced home, assuming a 20% down payment and a 6.8% interest rate. In other words, it’s a stretch—and buyers know it.
Now let’s talk condos, because the story changes depending on where you look:
On the west side—particularly in NW and SW Portland—condos are sitting longer, and many need price reductions to get noticed. Think 60+ days on market, even for well-maintained units.
But over on the east side, it’s a different vibe. In places like inner NE and SE, well-located condos near transit and walkable amenities are seeing more activity. We’re also seeing more first-time buyers jump back in, drawn by both lifestyle perks and (relatively) lower prices.
At Living Room we’re seeing that homes that are staged, priced right, and marketed with intention are still moving—but it’s not automatic. Buyers are taking their time. Offers are slower, negotiations run deeper, and the details matter more than ever.
If you’re ready to make a move, call us today. We would love to help you find your next Living Room.
