Tag: days on market

Portland Market Update Mid-May 2025

Posted on by The Dream Digs Team

Find out what’s happening in the Portland real estate market for Mid-May 2025.

Hey everyone, I’m Aryne Blumklotz, principal broker with the Dream Digs Team at Living Room Realty, and I’m here to give you a quick update on what’s happening in the Portland market as of mid-May 2025.

Inventory is up – way up

There are currently 1,439 active listings in the Portland metro area. That’s a 28% jump from this time last year, and new listings are up as well—about 8% year over year.

 

What does that mean?

Buyers are seeing more options, and sellers are facing more competition. Over 40% of listings have had a price reduction, which tells us that pricing right out of the gate really matters.

For buyers, this is a welcome shift. With more inventory and longer average market times—85 days on average, though the median is just 35—you’ve got a bit more breathing room to shop, compare, and negotiate.

For sellers, this means strategy is key. Homes that are priced well and prepped for market are still moving quickly—sometimes in under two weeks. But others are sitting longer or needing price adjustments. So if you’re planning to list, it’s crucial to work with an agent who can help you position your home effectively from day one.

The median list price is about $725,000, but new listings are coming in closer to $650,000—a sign that sellers are adjusting expectations. On average, homes are priced at about $317 per square foot.

Pending Sales

They’re down slightly—2.5% year over year—but activity is still strong, especially for homes that are well-priced and show well.

The average sale price is down 4.5% compared to this time last year, but up 3.6% from last month. That bounce-back suggests that buyers are responding to better pricing—and the market could be finding its footing heading into summer.

So what does this mean if you’re thinking about buying?

It means opportunity. This is a more balanced market than we’ve seen in a while—more choices, more room to negotiate, and less frenzy at the offer table.

Here’s How We Help

At Dream Digs, we’ll build a search strategy around you. We’ll pair you with a solid local lender, walk through homes with a sharp and honest eye, and guide you in writing a strong, competitive offer.

From inspections to closing, we’re with you every step of the way—offering smart strategy, clear communication, and absolutely zero pressure.

Make Room To Live

Living Room Realty is committed to providing as much information as possible to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next Living Room.

How to Understand the Real Estate Market Like a Pro

Posted on by Sofia Gallamore

Much of my value as a real estate professional is delivered through coaching and educating my clients. It brings me joy to witness my clients’ confidence blossom as they gain the tools and knowledge to navigate the intricacies of real estate. Below, I’ve outlined and defined the basic elements of understanding real estate market activity and its patterns. 

 

1. Median vs. Average Home Price

  • Median Price: The “middle value” of all homes sold (half sold for more, half for less). Typically, this is a better indicator of the typical home price since it’s not skewed by fixers or overpriced homes. 
  • Average Price: The total sales price of all homes divided by the number of sales. This can be misleading if there are a few very high or low sales.

2. Days on Market (DOM)

  • The average number of days a home stays on the market before going under contract (AKA the seller accepts an offer from a buyer).
  • Lower DOM = Homes are selling quickly (stronger seller’s market).
  • Higher DOM = Homes are sitting longer, possibly indicating a buyer’s market.

3. Months of Inventory (MOI)

  • Measures how long it would take to sell all the homes currently on the market if no new homes were listed.
  • Less than 3 months = Seller’s market (low inventory, high demand).
  • 3-6 months = Balanced market.
  • Over 6 months = Buyer’s market (more supply than demand).

4. List-to-Sale Price Ratio

  • The percentage of the asking price that homes actually sell for.
  • Above 100%: Homes are selling for more than asking (bidding wars, competitive market).
  • Below 100%: Homes are selling for less than asking (buyers have more negotiating power).

5. Price Per Square Foot

  • Useful for comparing similar properties in the same area.
  • A rising price per square foot suggests increasing demand or higher-end homes being sold.

6. Pending Sales vs. Closed Sales

  • Pending Sales: Homes under contract but not yet sold (a leading indicator of future closings).
  • Closed Sales: Homes that have officially sold (represents past market conditions).
  • A decline in pending sales may indicate a slowdown, while an increase suggests a hot market.

7. New Listings vs. Active Listings

  • New Listings: Number of homes recently listed for sale (homes are most often listed on Thursdays and Fridays, so they are fresh to the market for open houses and touring on the weekend)
  • Active Listings: Total number of homes currently on the market.
  • If new listings increase but homes aren’t selling, inventory builds up, signaling a possible shift to a buyer’s market.

8. Interest Rates & Their Impact

  • When interest rates go up, buying power decreases, often slowing home sales. This has been the climate we have been in for the past few years. We typically see a swing toward buyers being able to negotiate more and secure homes at a lower price due to less buyer competition. 
  • When rates go down, more buyers enter the market, increasing competition. For those “waiting on the sidelines” for rates to go down, are likely to find increased competition of other buyers waiting to do the same, and an increase in home prices to offset the lower rates. 

9. Market Trends & Seasonality

  • Spring and summer generally see more listings and higher prices. 
  • Fall and winter often bring fewer buyers, making it a better time for “deals” and buyer opportunities. I always tell my buyers that if the seller is listing their home over the holidays, then they NEED to sell. Nobody likes moving during the holiday season!
  • Year-over-year trends are more reliable than month-to-month fluctuations.

10. Inventory Turnover

  • When evaluating neighborhoods, take a look at how long people tend to live in their homes before selling and, in general, how many homes are currently listed for sale
  • Areas with high turnover may indicate nuanced elements of the area that are not immediately apartment to some buyers (freeway noise, packed on-street parking when getting home from work, home is on a flight path, etc). 
  • Neighborhoods with lower turnover tend to have lower DOM when homes sell, as there is less competition and likely a pent-up buyer demand for homes in that area

 

I hope you gained some insight from these points and have a clearer understanding of the nuances of real estate market data. If you have any questions about Portland’s current market and what opportunities are out there, please reach out! I’m happy to have a zero-pressure exploratory conversation to see what makes sense for you (even if that means staying exactly where you are!).

Your friend & realtor,

Sofi