May 2026 Market Action Report: Portland Metro and Yamhill, Polk and Marion Counties
- The McCreith Team
- 3 days ago
- 5 min read
From Portland Metro to the Willamette Valley, we're talking through the early spring data and what you should know heading into summer.
PORTLAND METRO
The Numbers At A Glance
• Closed Sales: 2,053 ▲ 1.7% vs May 2025
• Pending Sales: 2,439 ▲ 6.1% vs May 2025
• New Listings: 3,246 ▼ 11.1% vs May 2025
• Average Sale Price: $637,300 ▲ 2.1% vs May 2025
• Median Sale Price: $560,000 ▼ 1.7% vs May 2025
• Inventory: 3.2 months ▼ 0.1 vs May 2025
• Total Market Time: 57 days, fastest pace of 2026
Here's the May headline: fewer homes came on the market, but buyers kept showing up, and prices responded accordingly.
Overall, new listings dropped 11.1% compared to May 2025. That's a meaningful pull-back on the supply side that is somewhat typical of our spring seasons. The average sale price climbed to $637,300, up 2.1% year-over-year and up 3.6% from April alone. That's the strongest single-month price move we've seen all year. When supply tightens and demand holds steady, this is exactly what we would expect.
Total market time dropped to 57 days, the fastest pace of 2026 so far. Well-prepared, well-priced homes are moving quickly. The ones that aren't are pulling that average in the wrong direction.
The conversation we are having with sellers most consistently these days centers around the high cost of overpricing a home. The data demonstrates that ambitiously-priced homes take longer to sell, and they will sell for less than would be achieved if the pricing had been competitive right out of the gate.
Pending sales climbed 6.1% over May 2025. That pipeline is healthy and points to a strong June and July for closings. The buyers who went under contract in May are closing right now.
Inventory sits at 3.2 months, nearly identical to last May's 3.3. On paper it looks like nothing changed. But look at what's underneath that number: 11% fewer new listings came on the market, and yet buyers are more active than a year ago. That's not a flat market, that's a market where demand is keeping a strong pace with supply. We expect this to keep prices stable or nudge them higher through the summer months, especially for homes that show and price well.
The $400K–$500K and $500K–$600K bands together represent nearly 38% of all May closings. That's where the bulk of buyer activity lives, and if your home is priced in that range, you have a deep pool of buyers actively searching right now.
A note for our Yamhill County neighbors: pending sales surged 20.7% over last May, that's a great sign post for a healthy season. The average sale price came in at $516,800 with a 63-day market time, and the rolling average sale price is up 1.9% year-over-year. The Yamhill County market is showing some of its best momentum of the year heading into summer.
POLK & MARION COUNTIES
The Numbers At A Glance
• Closed Sales: 195 ▼ 5.8% vs May 2025
• Pending Sales: 235 ▼ 2.5% vs May 2025
• New Listings: 345 ▲ 8.2% vs May 2025
• Average Sale Price: $516,500 ▼ 4.3% vs May 2025
• Median Sale Price: $450,000 ▼ 5.7% vs May 2025
• Inventory: 3.8 months ▲ 0.8 vs May 2025
• Total Market Time: 93 days ▲ 39 days vs May 2025
May was a different kind of month in Polk and Marion. More listings came online, new inventory jumped 8.2% over May 2025 and 20.6% over April, while closed sales softened and market time stretched to 93 days. The story here is simple: buyers in this market have more choices, and they're taking their time.
This doesn't mean demand has evaporated. Year-to-date pending sales are essentially flat at 0.0% change versus 2025. Buyers are still active, they're just less urgent than they were a year ago. With inventory at 3.8 months, they have more room to be selective, and that shifts leverage slightly toward the buyer. Sellers need to know that going in.
The monthly price numbers are softer than last year, but we want to point you to the rolling 12-month data: the average sale price is still up 1.4% ($476,200 vs $469,800). That's the long-term trend line, and it's still pointing up. Monthly figures bounce around, the rolling data is where the real signal lives.
For all of our sellers, this is not a market to overprice and wait out. It's a market to price sharply, present well, and get in front of buyers who are actively comparing their options. The gap between homes that sell quickly and homes that sit is wider right now than it has been in a while, and the difference almost always comes down to price and presentation on day one.
Note: RMLS serves as a supplementary MLS for Polk and Marion Counties, so these figures reflect meaningful but not complete market activity.
What This Means For You
For BUYERS: The summer months typically bring the best selection of the year. Inventory tends to peak between June and August. If you've been sitting on the sidelines, the next 60–90 days deserve a serious look. Have your financing dialed in and your priorities clear: well-priced, well-presented homes are still moving fast.
For everyone: These are not chaotic markets. They're predictable, seasonal, and responsive to good strategy. That's actually a good thing, because it means you can really win with a knowledgeable, experienced Realtor working alongside you. Don't get caught up in a momentum market without a plan.
Let's Talk
Whether you're thinking about listing this summer, still searching for the right home, or just trying to make sense of what these numbers mean for your specific situation, we're here for it. No pressure; just honest guidance from people who know this market.
Amy McCormick, Principal Broker
503-310-7803 amy@thebellacasagroup.com
Catherine Summers, Principal Broker
971-219-9858 catherine@thebellacasagroup.com
Joni McCreith, Principal Broker
503-310-5613
Molly Barajas, Principal Broker
503-310-4267
The McCreith Team · Bella Casa Real Estate Group Offices in Newberg &
McMinnville, Oregon
Source: RMLS Market Action Report, May 2026 Reporting Period. © RMLS 2026. All Rights Reserved. Statistics are deemed reliable but not guaranteed. RMLS is a supplementary MLS for Polk and Marion Counties; data does not reflect the entire market for those areas.
Comments