Over the past three years, the Portland metro real estate market has settled into predictable seasonal patterns. January 2026 saw the average sales price come in at $568,000—the lowest single month since January 2024’s $564,600. But when you zoom out, the story is one of stability, not decline. The average sales price was $598,000 in 2023, increased to $608,600 in 2024, and rounded out at $612,100 in 2025. In other words, there are no wild swings here—just a market that has found its footing.
If we compare January 2026 to January 2025, new listings totaled 2,109 (down 4.4%), pending sales were 1,708 (down just 0.6%), and closed sales came in at 1,111 (down 8.4%). In other words—minimal shifts. We’re in a higher-rate world, so yes, fewer buyers are out there—but after 36 months, we’ve settled into clear seasonal trends.
And it’s not just January. First quarters have been predictably similar. In Q1 2023, we saw 6,325 new listings, 5,553 pending sales, and 4,267 closed sales. Q1 2024? Almost identical: 6,451 new listings, 5,372 pending, and 3,982 closed. Q1 2025 kept that pattern: 6,802 new listings, 5,566 pending, and 4,254 closed.
It’s important to note: new listings reflect fresh properties hitting the market—they don’t account for active inventory already carried into Q1. For context, in Q1 2025, our total active inventory averaged just over 7,800 listings.
What this shows is that while inventory ebbs and flows, the pipeline from new listings to closed sales has remained steady. We’ve got a market operating at a lower altitude—but it’s stable, predictable, and seasonally dependable. The new normal is balanced, and that’s a market you can plan around.
So, whether you’re thinking about selling in this stable market or simply curious what your home might be worth—reach out! I’m always happy to provide a personalized equity review or talk strategy. Let’s plan your next move—on your terms. Message me today, and let’s chat about what’s possible.
