Welcome to my monthly real estate update for Portland, Oregon! I’m Shawn The Realtor Guy, bringing you the latest market data, insights, and home-buying tips for fall and winter 2025. Whether you’re looking to buy or sell in the Portland metro area, this post will break down what’s happening in the market, from mortgage rates to county-specific trends, and share strategies to help you navigate the current landscape. Let’s dive in!
National Real Estate Trends: Mortgage Rates and Market Activity
The real estate market in 2025 is heavily influenced by mortgage rates and supply and demand. According to local data from OnPoint Credit Union, mortgage rates have dropped to around 6%—the lowest in over two years, down significantly from a few weeks ago. This is great news for affordability, which is improving rapidly.
The Federal Reserve recently announced two additional rate cuts for the Fed funds rate, which will likely push mortgage rates even lower (though not guaranteed, there’s about a 90% correlation). Nationally, home sales are up 5.1% compared to last year, with the median sale price per square foot at $210.58, reflecting a modest 1.18% year-over-year appreciation. Despite some headlines claiming a market crash, the national data shows steady growth, though individual cities vary.
Portland, Oregon Market: A Closer Look
In Portland, the market tells a different story. The median sale price per square foot is $233.14, down 1.19% year-over-year, performing worse than both 2023 and 2024. This makes it a unique market compared to the national average, which is slightly appreciating.
Let’s break it down by county to see what’s happening locally.
Washington County
- Active Listings: 1,144
- Pending Sales (last 2 weeks): 185
- Sold (last 2 weeks): 154
- Average Days on Market: 55 days
- Median Sale Price per Square Foot: $298 (pending price: 309)
- Sale-to-List Price Ratio: 95% (homes selling 5% below original list price)
Washington County is seeing a slight uptick in activity, with more homes going under contract than sold in the last two weeks, signaling an accelerating market. The drop in mortgage rates is bringing out more buyers, but sellers are still pricing slightly above market expectations, leading to a 5% discount on sold homes. Unique properties, like those with large lots or four-car garages, may take longer to sell—sometimes up to 55 days or more—but patience can pay off, as I’ve seen multiple offers come in as late as day 75 after a single price adjustment.
Multnomah County West
- Active Listings: 397
- Pending Sales: 61
- Sold: 40
- Average Days on Market: 64 days
- Median Sale Price per Square Foot: $338 (pending price: $338, active price: $361)
- Sale-to-List Price Ratio: 91.48% (8.5% below original list price)
Multnomah County West is a tougher market for sellers, with homes selling at a steeper discount (8.5% below list price). High property taxes, like the $9,000/year on a home I owned in Southwest Portland (up from $5,000 in 2005), may be deterring buyers, leading to lower offers. Sellers here often have higher expectations, but the reality is a slower market with fewer transactions.
Multnomah County East
- Active Listings: 888
- Pending Sales: 219
- Sold: 150
- Average Days on Market: 33 days (median: 9 days)
- Median Sale Price per Square Foot: $299 (pending price: $299, active price: $304)
- Sale-to-List Price Ratio: 97%
Multnomah County East is a hotspot, with homes selling much faster—often with multiple offers within 9 days. The sale-to-list price ratio is strong at 97%, indicating realistic pricing by sellers and high demand. This area attracts out-of-state buyers who associate it with Portland’s vibrant lifestyle, though some shift to the west side after exploring factors like safety, home age, or quieter neighborhoods.
Clackamas County
- Active Listings: 778
- Pending Sales: 115
- Sold: 98
- Average Days on Market: 59 days
- Sale-to-List Price Ratio: 94.33%
Clackamas County, including areas like Lake Oswego and West Linn, has higher prices but similar market dynamics to Washington County. The sale-to-list price ratio shows homes selling at about 94% of the original list price, with activity steady but not as robust as Multnomah County East.
Tualatin, Tigard, Sherwood, and Wilsonville
- Active Listings: 58
- Pending Sales: 44
- Sold: 32
- Average Days on Market: 65 days
- Sale-to-List Price Ratio: 96%
This combined market is surprisingly active, with a high percentage of homes going under contract. However, the total number of transactions is low due to limited inventory. Sellers here are pricing more realistically, and homes are moving at a solid pace.
ZIP Code 97229 (Northwest Portland)
- Active Listings: 173
- Pending Sales: 1
- Sold: Not specified
- Average Days on Market: 91 days
- Median Sale Price per Square Foot: $297
The 97229 market is unusually slow, with only one pending sale in the last two weeks. This school-driven neighborhood likely saw most buyers settle in by July, reducing activity in September. The median price per square foot is $314 (based on a 90-day average), but the market is flattening, with inventory gradually increasing due to factors like Intel layoffs. However, positive news, like Nvidia’s multi-billion-dollar investment in Intel, could stabilize and boost this area soon.
Beaverton
- Active Listings: 331
- Pending Sales: 66
- Sold: 54
- Average Days on Market: 52 days
- Median Sale Price per Square Foot: $308 (pending), $307 (active)
- Sale-to-List Price Ratio: 95%
Beaverton is performing better than most areas, with nearly 20% of homes going under contract. Sellers are pricing realistically, and buyers are finding value, with homes selling about 5% below the original list price. The market here is stabilizing and poised for growth as rates drop.
Hillsboro
- Active Listings: 241
- Pending Sales: 36
- Sold: 33
- Average Days on Market: 52 days
- Median Sale Price per Square Foot: $299
- Sale-to-List Price Ratio: 96.87%
Hillsboro mirrors the broader market, with steady but unremarkable activity. Prices are slightly declining, but the market is stabilizing, and more transactions are expected as rates continue to fall.
Luxury and Multifamily Markets
Luxury Market ($1.55M+ in Tri-County Area)
- Active Listings: 405
- Pending Sales: 31
- Sold: 15
- Average Days on Market: 94 days
- Sale-to-List Price Ratio: 88.21%
The luxury market is slower, with only 10% of listings going under contract. Unique, high-end properties take longer to sell, and prices fluctuate significantly, with some homes selling above asking and others well below. The highest listed property is $25 million.
Multifamily Market
- Active Listings: 52
- Pending Sales: 52
- Average Days on Market: 101 days
- Sale-to-List Price Ratio: 92.51%
- Median Sold Price: $720,000 (Washington County), ~$620,000 (East Clackamas County)
The multifamily market (duplexes, triplexes, fourplexes) is red-hot, with every active listing pending sale. Demand is sky-high, and at the current rate, inventory could clear in 2–3 weeks if no new listings are added. Larger properties, like 12–15-unit buildings, are attracting bigger investors, with the highest listed at $4.3 million.
Home Buying Tips for Fall & Winter 2025
- Target New Construction: Builders are offering great deals to clear inventory before 2026. Now is the time to negotiate aggressively on brand-new homes. If you need help navigating these deals, reach out—I know a few strategies to maximize your savings.
- Look for Stale Listings: Properties sitting on the market for 45+ days may belong to fatigued sellers eager to move on. If the home fits your needs (school district, layout, etc.), make an offer now—you might land a great deal before the seller pulls the listing or waits for next year.
Market Predictions for 2025
With mortgage rates dropping and buyer activity increasing, I predict 15% more transactions in fall and winter 2025 compared to 2024 or 2023. While inventory is shrinking (except for motivated sellers, like those relocating), demand is rising, which could push prices up slightly or lead to more sales. The market is stabilizing, and areas like Beaverton and Multnomah County East are showing particular strength.
However, unique properties require patience. As a Realtor with 18 years of experience (since 2008), I’ve seen markets shift dramatically. The days of multiple offers in the first week (2016–2022) are gone for now, but 55–60 days on the market is the new norm for many properties. If you’re a seller, stay patient and ensure your home is competitively priced. If you’re a buyer, don’t assume a long listing means a desperate seller—unique homes often take time to find the right match.
Industry Changes: What You Need to Know
The real estate industry is undergoing significant changes in 2025. Starting January 2026, the Oregon Real Estate Agency will prohibit individual brokers from using “realty” or “real estate” in their branding unless they own a brokerage. For example, as Shawn Realty, I’m unaffected because I’m my own brokerage, but agents working under larger firms like Keller Williams can no longer use their name with “real estate” (e.g., “John Doe Realty”).
Additionally, transparency issues are shaking up the industry. Companies like Zillow are facing lawsuits (e.g., from Compass) over their fee-sharing practices. Zillow’s “flex agent” program, where agents pay up to 40% of their commission for leads, isn’t always disclosed to consumers, which can impact buyer-agent fee negotiations. This lack of transparency, combined with new rules requiring buyers to pay their agents directly (or negotiate seller concessions), is creating a “Wild West” environment in real estate. Stay informed and work with a trusted professional to navigate these complexities.
Final Thoughts: Navigating Any Market
I often hear doom-and-gloom predictions about the market, with some questioning why anyone would buy an asset that’s “going down in value.” My response? Every market has opportunities and pitfalls. Whether it’s 2009 or 2025, you can make smart moves or costly mistakes. Working with an experienced Realtor who understands your goals can help you find the best deal, whether you’re buying or selling. Focus on the right property, price, and strategy, and you can succeed in any market.
For sellers, if you’re getting showings but no offers after 60 days, stay patient—you’re still in the game. If showings are scarce, your price or positioning may need adjustment. For buyers, the limited buyer pool (due to 6% rates) means less competition, but as rates drop to 5.5% or 5%, expect the pool to double or triple, increasing activity.
Local Recommendations: Shawn’s Picks
I’ve started a list of trusted local vendors on my website, shawn-realty.com. From plumbers to roofing companies to my favorite sushi spot, these are businesses I personally use and recommend—no affiliations, just quality service. Check out the “Shawn’s Picks” section on my blog for the full list!
Get in Touch
If you have questions about buying, selling, or navigating the Portland market, reach out! Have a great weekend, and I’ll see you in the next update!
Shawn Realty 