September 2025 — Market Action Report for Portland Metro
- Bella Casa Admin
- Oct 13
- 6 min read
September settled into a steadier rhythm, and the small drop in interest rates certainly seemed to aid in some good activity. Homes are still taking a bit longer to find the right buyer, and sellers are leaning on price accuracy and presentation to stand out. Even so, when a home checks the boxes - great condition, realistic price - it’s still attracting quick offers and strong attention.
For example, Amy's first time home buyers have been looking for a few months now. When they found a home that checked all their boxes (good-sized yard, move-in ready, under $500,000), Amy encouraged them to make a quick and strong offer. The home had just come on the market and Amy knew from experience that it was priced very well and would sell right away. In the end, they were 1 of 4 offers, losing to another buyer who had come in at a higher price and an appraisal waiver! It's not 2021 anymore, but there are strong buyers in the market. They know a good buy when they find it, and they aren't afraid to move decisively.
(Download the Market Action Report PDF here)
Across the Portland Metro area, inventory rose slightly to 3.8 months, and total market time held steady at 62 days. That’s
about two months from list to accepted offer, a pace that marks a calm, functional market.
Prices held steady, too. The average sale price landed at $616,900 (up 0.6% year-over-year), while the median reached $545,000 (up 0.7%). It’s an almost insignificant movement, but shows at minimum that values are holding firm even as activity drops and normalizes.
Closed sales were up 7.2% from last September, and pending sales rose 3.3%, confirming that buyers haven’t disappeared, they’re just moving more deliberately.
So yes, this market feels different from the high-energy years of 2021 and 2022. But it’s not quiet; it’s simply more balanced. Sellers who prepare well and price within range are still winning. Buyers, meanwhile, (in most cases) have the time to make confident, thoughtful decisions. But if your agent tells you that something will sell quickly, listen to them. We know the market trends because we are out there every day representing buyers and sellers looking to transact in today's market.
Now, let’s dig into what the September RMLS Market Action Report tells us, where activity is strongest, how prices are trending by area, and what to watch heading into the final quarter of 2025.
Quick Market Snapshot
Metric | September 2025 | Year-over-Year Change |
New Listings | 2,498 | ↓ 3.5% |
Pending Sales | 2,145 | ↑ 3.3% |
Closed Sales | 1,825 | ↑ 7.2% |
Inventory | 3.8 months | ↑ slightly |
Average Sale Price | $616,900 | +0.6% |
Median Sale Price | $545,000 | +0.7% |
Total Market Time | 62 days | +7 days YoY |
Takeaway: Listings and pendings are nearly aligned, a sign that supply and demand are finding their balance. Homes are taking about two months to sell, which is consistent with a normal seasonal rhythm.
Area Highlights: What’s Moving Where / Regional Standouts
Different corners of the metro are moving at different paces, but the overall tone is steady:
Lake Oswego / West Linn continue to post some of the highest averages, over $1.2M, driven by strong lifestyle appeal.
West Portland remains active, with average prices near $770,000 and solid buyer demand in mid- to high-end ranges.
Beaverton / Aloha and Hillsboro / Forest Grove hover around $560K, staying among the most affordable westside submarkets with consistent activity.
Yamhill County averaged $582,800 and remains a draw for space, charm, and relative value — especially for move-up buyers priced out of the metro core.
SE & NE Portland each saw small upticks in pending sales, proving that updated, well-located homes still pull attention fast.
Spotlight on Polk & Marion Counties
Just south of Portland Metro, Polk and Marion Counties mirrored the same steady rhythm — modest growth, balanced pace, and stable pricing.
New Listings: 286 (+18.7% YoY)
Pending Sales: 227 (+3.2% YoY)
Closed Sales: 192 (+4.9% YoY)
Inventory: 3.9 months (steady)
Market Time: 64 days
Average Sale Price: $501,900 (+8.9% YoY)
Median Sale Price: $462,000 (+5.5% YoY)
Year-to-date, average price sits at $477,900 (up 2.7%) and median at $450,000 (up 2.3%) — a healthy clip for markets like Salem, Keizer, and Woodburn, where affordability continues to draw buyers.
Homes between $400K–$600K make up more than half of all sales in these counties, underscoring their role as accessible, growth-friendly markets.
We put our 7-acre West Salem farm under contract at the end of September. This one had an incredible draw for the hobby-farmer and also had potential for multigenerational living. We have seen an increased interest in both over the past 5 years, and we are delighted for the buyers on this one, scheduled to close just before Thanksgiving.
For Sellers: Strategy that Works Now
Right now, success hinges on realism and presentation.
Price precisely: Buyers are cautious and well-informed. Homes priced even 3–5% above the pack are sitting much longer. On the other hand, homes priced at or even slightly under market value are seeing quick, and often multiple offers.
Presentation matters: Staging, clean curb appeal, and professional photos are still essential for creating a compelling d=presentation that draws buyers in. Pair that with with smart pricing and you really won't have trouble selling in this market!
For Buyers: Opportunity in a Calmer Market
For buyers, September’s data points to opportunity with less pressure:
More inventory: At nearly four months of supply, you have options to compare, and often space to negotiate.
Stable prices: With prices holding instead of spiking, you can plan long-term with more confidence.
Seller flexibility: Many sellers are open to concessions or rate buydowns, especially if their home’s been listed for over 45 days.
If you’re pre-approved and ready, then fall is a smart time to act.
Market Pulse: Where We’re Heading
Looking at the first nine months of 2025, new listings, pendings, and closings are all up around 1–3% compared with last year Portland Metro Area. The takeaway? This isn’t a cooling market, it’s a leveling one. We see a continuation of this throughout the end of 2025 and into the first quarter of 2026. All indications point to a healthy spring selling season, especially if we get another rate drop or two. But remember: waiting for rates to come down (if you are ready to buy) is not a great strategy. The number 1 reason for that being, meaningful rate drops will inevitably bring more buyers into the market, which increases competition and increases prices. If you are ready to buy, the best strategy is to buy. No one knows with certainty what the rates will do in 2026. If we get a significant drop, talk with your lender about a refi from the comfort of your new home.
We’ve transitioned from reaction-driven swings to steady, data-driven movement. Sellers who align with today’s values and buyers who stay ready to move both have paths to success.
The Market’s Mood Right Now
The September 2025 market is defined by balance:
Prices are flat to slightly rising.
Buyers have options again.
Sellers who adapt early still lead the pack.
This is the kind of market that rewards fundamentals: location, condition, and price, not hype. If you’re planning a fall or winter move, this is the moment to prepare. With clarity on where pricing is heading and how long listings are taking, you can make a calm, informed decision that fits your timeline.
Ready to make your next move? Whether you’re fine-tuning a fall listing or laying groundwork for early 2026, our team can help you to better understand the market and plan with confidence. Bella Casa Real Estate Group remains the number 1 brokerage in our market for volume and units sold, meaning you have a powerhouse brand and depth of experience working on your behalf. Connect with Amy, Catherine, or Joni so we can strategize the next steps with you.
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