March 2026 Market Action Report: Portland Metro and Yamhill, Polk, and Marion
- The McCreith Team
- 6 days ago
- 5 min read
Portland Metro and Polk & Marion Counties— what the numbers say and what they mean for you.
*Data from RMLS - March 2026 Reporting Period
Spring has arrived and our incredible these past couple of weeks have been teasing us with the usual trickery. Rain is back next week, but we are thankful for that. It is much needed.
March is typically the beginning of the spring market wake-up, and this year is no exception. Activity picked up across both Portland Metro and the Polk & Marion Counties, with more sellers listing, more buyers going under contract, and more closings landing. If you've been waiting to see which direction things were heading, this month gave us some welcome clarity in spite of some uncertainty which has come as a result of geopolicatal events. The market is sensitive to national and internation headlines, so we are watching it all very closely.
Here's what March looked like, and what it means if you're thinking about buying or selling in the months ahead.
Portland Metro
Spring Momentum Is Still Showing Up
New listings, pending sales, and closed sales all jumped, not just from February, but also compared to the same time last year. Sellers stepped up, buyers responded, and the market continues in its normal trajectory for this time of year: buzzing along.
This seasonal acceleration happens every year. Closed sales were up 27.4% from February alone, and pending sales rose 27.3%. What's encouraging is that compared to March 2025, all those numbers are still trending in the right direction.
Inventory: Still Balanced, Still Healthy
Inventory settled at 3.0 months in March, exactly where it was in March 2025. A market in the 3–4 month range is considered balanced, meaning neither buyers nor sellers have a dramatic advantage. That said, 3.0 months leans slightly toward sellers, especially for well-priced, move-in-ready homes.
What About Prices?
The month-to-month and year-over-year numbers show a modest uptick, the average sale price of $614,200 is up 2.8% from March 2025, and the median of $543,800 is up 0.3%. But the most stable picture comes from the rolling 12-month comparison, which smooths out seasonal noise.
Rolling 12-Month Price Snapshot
The rolling average sale price is $610,500, down just 0.4% from the prior 12-month period. The median? Flat at $545,000 — zero change. This tells us the overall trend is one of stability, not decline.
Year-to-date, the average sale price has dipped 1.4% to $594,500 and the median has slipped 2.8% to $525,000 compared to the first three months of 2025. That sounds like a lot on paper, but winter months tend to pull those figures down, March's numbers suggest the floor is firm.
Where Are Buyers Shopping?
The $400K–$500K range led all March closings at 21.6% of sales, followed closely by the $500K–$600K band at 19.1%. Together those two segments account for over 40% of all transactions. If your home is priced in that window, you have the largest pool of active buyers looking at you.
Affordability: Closer Than You Might Think
According to the RMLS Affordability Index, a family earning the Portland Metro median income of $124,100 can cover about 98% of a monthly mortgage payment on a median-priced home, using a 20% down payment and a 30-year fixed rate of 6.1%. That's tight, but closer to the line than many people assume. And you don't need 20% down. There are great loan programs out there, and our lending partners can walk you through what's actually possible for your situation.
Polk & Marion Counties
More Listings, More Time on Market but Prices Are Holding
A quick but important note: RMLS serves as a supplementary MLS for Polk and Marion Counties, so the numbers here reflect a meaningful portion, but not all of market activity in the Salem corridor.
March brought a healthy jump in new listings for this region, up 11.3% from March 2025 and up 32% from February. Buyers responded, pending sales rose 3.2% year-over-year and closed sales came in just slightly ahead of last March, up 0.6%.
The biggest headline for this market is the jump in total market time, 102 days in March versus 58 days a year ago. That's a significant change. It tells us homes are sitting longer before going under contract, which means buyers in this area have more time to be thoughtful and selective. Sellers need to be priced right and presented well from day one.
The rolling 12-month picture is actually encouraging
Despite the uptick in market time, the rolling 12-month average sale price is up 3.0% to $478,100, and the median is up 2.6% to $450,000. That's real appreciation, modest, but steady. Year-to-date prices are essentially flat (down just 0.3% on average), which suggests stabilization rather than a slide.
Where Activity Is Happening
The $500K–$600K range dominated Polk and Marion closings in March at 31.8%, followed by $600K–$700K at 18.0% and $400K–$500K at 19.5%. One interesting shift: the $100K–$200K band jumped to 4.5% of sales in March 2026, up from just 0.7% in March 2024, a sign that more affordable inventory is moving in this region.
"Spring is here. More homes are coming to market, more buyers are making moves and the data is giving us a clearer picture of where things stand."
If You're Thinking About Selling
This is genuinely a great time to list in both markets. Activity is picking up, more buyers are searching, and inventory, while higher than the lean years of 2021–2022 is still not overwhelming. But buyers today are savvy. They're comparing homes, looking at condition, and watching price. What's more: they are negotiating real concessions, so make sure to hire an agent with a plan to address that. Our experience leads us to negotiate strongly on behalf of our buyers, and we put that same experience to work for our sellers, looking ahead to price and repair negotiations so that our are as prepared as possible for what is needed to get the job done.
Two Buyer Success Stories
Molly put a home under contract with her buyer in Salem - a new listing that hadn't even come on the market yet. So while they gave the seller full terms at the outset, when inspections revealed some pretty significant repairs needed, Molly negotiated meaningful concessions for her buyer. This is what a balanced market looks like.
Meanwhile Amy, representing her buyer in Beaverton, found a home that had been sitting for months. The listing had been overpriced from the beginning, having come down $50,000 from its original list price. The comps showed that it was still $20-25,000 over market value, so Amy negotiated a $20,000 price reduction and followed that up with repair negotiations for needed crawlspace work, a new furnace, and more.
If You're Thinking About Buying
You have more room to breathe than buyers did a few years ago. Inventory at 3.0 months in Portland Metro and 3.6 months in Polk and Marion Counties gives you real choices. In the Salem area especially, with homes sitting longer on average, there is often room to negotiate on price, on closing terms, sometimes both.
That said, well-priced homes in desirable neighborhoods still move with purpose. Have your financing lined up before you start touring seriously. Getting pre-approved is often simpler than people expect, and it puts you in a much stronger position when the right home comes along. We have phenomenal lending partners who can help you determine what's possible for your situation.
Let's Talk About Your Plan
No pressure. No hype. Just honest guidance from people who know this market. Whether you're ready to move or just starting to think about it, we're happy to sit down and walk through what the numbers mean for your specific situation.
Amy McCormick
Principal Broker
503-310-7803
Catherine Summers
Principal Broker
971-219-9858
Joni McCreith
Principal Broker
503-310-5613
Molly Barajas
Principal Broker
503-310-4267
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