What the Numbers Are Telling Us (May 2025 Market Snapshot)

More listings. Longer timelines. Smarter strategy required.

As we wrap up May and head into the heart of summer, the Portland real estate market is showing clear signs of balance and opportunity. Whether you're a buyer navigating new inventory or a seller weighing your timing, understanding the numbers is key to making informed decisions.

Here’s a breakdown of what the latest data tells us—and what it means for you.

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🔍 Market at a Glance – May 2025

The numbers from May reveal a market that’s active, but no longer frenzied. Some key trends:

✅ New Listings Are Up
May saw 3,651 new listings—a jump of 8.7% from April and 4.1% from May 2024. More inventory means more choices for buyers and a slightly more competitive landscape for sellers.

✅ Pending Sales Edged Up Month-Over-Month
Pending sales increased by 3.3% from April, though they were down 2.7% year-over-year. Buyers are still active, but they’re moving more thoughtfully.

✅ Closed Sales Are Trending Down Year-Over-Year
Closed transactions rose 7.3% compared to April, but dropped 5.7% from May 2024—reflecting longer timelines and a more measured pace of decision-making.

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📦 Inventory & Time on Market

• Inventory rose to 3.3 months, the highest we’ve seen in recent years and a clear signal of market normalization.
• Average market time dropped slightly, from 62 days in April to 55 days in May—still well above pandemic-era norms, but a modest improvement.

What does this mean?
We’ve shifted from a high-urgency market to one that rewards preparation, patience, and pricing strategy. Homes that are priced right and show well are still moving quickly. Overpriced listings? They’re staying put.

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🧭 Portland Neighborhoods: Strategy Still Wins

Real estate in Portland has never been one-size-fits-all. The latest numbers only reinforce the importance of understanding micro-market dynamics:

📍 Inventory Growth Is Steady
Inventory has increased every month since December (2.7 months) and now sits at 3.3 months. This gives buyers more leverage—and makes presentation crucial for sellers.

📍 Active Listings Hit a 3-Year High
With 6,679 active listings, this is the most available inventory we’ve seen in a May since 2022. Compare that to 5,009 in May 2024 and just 3,884 in May 2023.

📍 Home Values Are Holding Strong
Average sale price is up 1.5% year-to-date, with the median sale price up 2.6%. Sellers can still expect strong returns—especially in sought-after areas. But in higher inventory markets like Beaverton, Vancouver, and SE Portland, pricing too high can cost you time and money.

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🔑 The Bottom Line for Buyers & Sellers

📣 Buyers:

This is your opportunity to shop with confidence. With inventory up and competition easing, you have more breathing room—and more room to negotiate. Whether you're looking in Hillsboro, NE Portland, or just exploring your options, the right team can help you navigate what’s out there and what’s worth pursuing.

📣 Sellers:

Yes, you can still have a successful sale—but it takes a plan. Gone are the days of throwing a home on the market and expecting multiple offers. Today’s sellers need thoughtful pricing, strategic prep, and professional marketing to stand out in a growing sea of listings.

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🎯 Ready to Make a Move?

Whether you're looking to buy, sell, or just understand what all this means for your neighborhood, our team is here to help. At Atlas North, we combine market insight with client-first strategy—because Portland isn’t just one market. It’s dozens of micro-markets, each with their own trends, quirks, and opportunities.

Let’s navigate it together.