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And in partnership with Pat Weiss*
Portland Real Estate Update

March, 2025 Update

Over 70 Years Combined Experience, Since 1988

Portland Market as of February, 2025 Month End

This image is a snapshot showing what the Portland metro real estate market is like as of the end of February, 2025. Remember though this price is for all property types, including condos so detached homes are higher. Interest rates dropped a bit, and then went up again and as of today they are down a bit again, running about 6.5% for a 30 year fixed rate mortgage. At the end of February, the average sales price is at $612,500, up 2.1% over the the last 12 months (using a rolling average sales price for the last 12 months).

Click on the image to see the full seven page report. This report breaks down the Portland Metropolitan area by areas of town, so you can better see the prices and market activity where you live.

Nationally Prices are up 60%!

That's right, since 2019 on a national level home prices on average in the USA are up 60%! In fact, over the last five years here in Oregon prices are up 42.6% (ending EOY 2024). The normal price increases are 2-5% and as per the above article here in Portland Metro our prices are in fact only up 2.1% over the last 12 months.


So what does this mean for you? With ever increasing building and upgrade costs to homes, as well as increased lot values and permitting costs, new home construction prices will continue to increase (not even counting possible Canadian lumber tariffs) new homes are going to do nothing but cost more to build and sell. As a result we see existing homes continuing their rise in prices over time. If you are considering buying a home, now might be a good time to do so. If you are considering selling, our inventory is low and we need your home!

Are Institutional Investors Really Buying All The Homes?

They were, and now they arent.


Yes its true, there was a lot of buzz about this during the early Covid days when large investment firms were buying big chunks of homes, mostly in more affordable areas of the country like the Midwest for instance, in fact per this chart as much as 2.2% of the home sales. However this has dropped considerably down to 0.3% of national home sales as o the end of Q3, 2024.


We never did see this on any large scale here in the Portland area, mostly because we don't have large production builders building any large communities, with the South Hillsboro exception of course. Also, Oregon's (and particularly the City of Portland's) very landlord unfriendly rules have caused many small investors to sell their local rentals, and most of those sales have gone to homeowners who live in their homes, so as of right now we have a shortage of single family rental homes in the Portland area.

Should I Update Before I Sell?

Maybe! If you look at the chart I just pulled down from a recent survey, but WHAT should I update?


Personally in my 36 years of selling homes I have always found an updated kitchen can do more for a house than just about anything else. But this survey looks at this along with other items.


The garage door being top of the list makes a lot of sense because its so right in the face of any buyer. Tip: Paint the garage door the house color, not the trim color so its doesn't stand out so much. The other items all make sense too, but it depends on how visible these items are the buyers for instance adding brick veneer can always look great but note if its hidden from view. Bottom line, if you are considering any of these items, please have one of us come over and at no obligation we can help point you towards the items that make the most sense for your house from a resale point of view.



Search ALL Portland Area Homes

Click on the link below, or the image to search the Portland area MLS for all single family, condo, or multi-family homes in the Portland metro area. The site also includes some pre-defined common searches on the right side, and also always shows the most recent 20 listed properties in the metro area. Be sure to SAVE your search, that way you will always be notified of any new matches as they happen. Click on the photo to search now!

Thanks for checking out this newsletter, and for supporting our real estate team for all these years. We are always available for you. ROB LEVY, CAITY ABOUAF and PAT WEISS

*Pat Weiss is licensed with Oregon Referral Partners, LLC. Same address as below.

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Now More Than Ever, Experience Matters
The Rob Levy Team, Rob Levy Principal Broker and Caity Abouaf, Broker
Keller Williams Realty Professionals / Main Office (503) 546-9955