January Market Update — Portland Metro Area
The January real estate market stats are out, and the Portland Metro Area registered a strong start to the year. Prices are up over 6% compared to last January, and the number of sales is up over 8%. Is this the sign of a market about to heat up? The next few months will tell us more about how 2025 will be for real estate in Portland.
What’s the outlook for buyers?
For anyone looking to buy a home, 2025 had an intimidating start. We saw more multiple-offer situations than we’ve had in some time, as sale prices and the number of sales were significantly higher than last January. Buyers would be smart to hang in there and try hard to find a home before the Spring market takes it to another level.
What’s the outlook for sellers?
The low inventory of homes for sale, combined with a new influx of buyers, has created the most favorable market for sellers that we’ve seen in a couple of years. Multiple-offer situations are putting some sellers in great position. Anyone thinking of selling should consider listing soon, to take advantage of the newfound strength of the market.
