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We’re seeing two very different types of clients in today’s Portland market. We have buyers who are waiting to pull the trigger until prices collapse. On the other side, we have sellers who are waiting for the market to heat up so they can get a higher price before listing.
There is never a shortage of fear-based news about the economy. However, when you look at the data closely, the picture becomes much clearer.
The reality of the Portland market. Across the Portland metro area, we are solidly in a seller’s market. We currently have 3.6 months of inventory. This means if no other homes were listed starting today, it would take about 3.6 months to sell everything currently on the market.
When we look at the first two months of 2026, the market has some healthy “velocity.” New listings are up slightly compared to last year, and the number of “pending” sales, or homes with accepted offers, is also up. While two months of data aren’t enough to predict the whole year, the signs are positive.
What is happening with prices? We recently looked at the average closed sale prices across the metro area. In most spots, prices haven’t swung wildly. In areas where prices trended down over the last 12 months, the drop was only about 1% to 1.7%. That is a small enough margin that you could typically negotiate it off the asking price. In other areas, prices were up by about 3%.
When you look at the big picture, that tells us that the market isn’t collapsing, but it also isn’t rapidly inflating.
Strategy for homebuyers. If you are thinking about buying this spring or summer, don’t sit on your hands waiting for interest rates to drop. We do expect some changes at the Federal Reserve this May, with speculation that rates might move lower, but you can take intentional steps right now.
- Get pre-qualified: Find out your actual buying power and what loan programs are available.
- Look for motivated sellers: Some homes have sat on the market for a long time. You might be surprised at the deal you can negotiate when a seller is ready to move.
- Check new construction: Builders in subdivisions on the outskirts of Portland are offering incredible incentive packages right now to excite buyers.
Strategy for home sellers. If you are waiting for prices to skyrocket, remember that the data shows a very steady market. Waiting might mean missing your window.
We recently worked with a seller who thought his home was worth much more a year ago than it is today. That is a hard pill to swallow. However, he found his dream home in a great location that had been sitting on the market.
He negotiated an incredible deal and a “contingent” offer, meaning he only buys the new house once his current one sells. By pricing his home at today’s actual market value, he’s going to sell fast and come out ahead in the end.
The “off-market” advantage. We often know about homes that are available but not officially for sale. For buyers, this is a great way to avoid competition. For some sellers, selling off-market to a builder who wants to renovate or rebuild can result in a higher price than they would ever get on the open market.
Real estate is hyper-local, and it’s never one-size-fits-all. If you are thinking about making a move in 2026, let’s look past the headlines and devise a strategy that works for your specific goals. Reach out anytime at will@fendonproperties.com or (503) 432-5450. We’d be happy to help you explore what’s possible in today’s market.
