In this update, we will dive into the key factors influencing the Portland Housing Market and its current trends.
Understanding the nuances of the Portland Housing Market is essential for potential buyers and sellers.
How Portland housing market trends are calculated
If you’re new here, I’m Lauren Perreault, Principal Broker serving Portland Metro and Clark County, WA. I have an engineering background, which means I care much more about trend direction than I do about one exciting or disappointing week of data. Weekly numbers are volatile. Trends are durable. So every week I calculate 12-week rolling averages to smooth out noise and identify meaningful shifts early.
A rolling average simply takes the most recent 12 weeks of data, averages them, and then steps forward week by week. By comparing today’s 12-week average to the 12-week average ending the same week last year — using a 53-week offset — we remove seasonality and see true directional change.
Rates
Let’s start with rates. As of February 17, 2026, OnPoint Federal Credit Union is quoting the 30-year fixed conventional at 5.750% with 0.250% points. Rates are steady week-over-week. Stability in rates reduces buyer hesitation and allows behavioral patterns to normalize.
In the current Portland Housing Market, homes are showing diverse trends in terms of sales and listings.
Sales and Inventory Data
Closed Sales
Closed sales this week came in at 384 compared to 390 during the same week last year. On the surface, that’s flat. When we examine the 12-week rolling average, closings remain slightly below last year’s pace, but the gap has narrowed since late Q4. That indicates gradual demand stabilization.
Pendings
New pending sales — which lead future closings — totaled 547 versus 490 during the same week last year. More importantly, the rolling average of new pendings has turned upward since early January. While still trailing last year’s levels slightly, momentum has improved.
Inventory continues to run above last year. Active listings sit at 5,705, reflecting a double-digit year-over-year increase. When rolling averages are applied, supply remains structurally higher than early 2025. This shifts negotiating leverage modestly toward buyers.
The increase in new pending sales indicates a shift in the Portland housing market dynamics.
This trend is crucial to monitor as it impacts pricing strategies.
Overall, the Portland market shows potential for appreciation, albeit at a moderated pace.This indicates that buyers in the Portland housing market should be strategic in their offers.In this evolving market, the right pricing strategy can yield significant results.
The Portland Housing Market is set to continue evolving as we approach spring.
New Listings
New listings reached 585 this week, consistent with seasonal early-spring increases. The critical relationship to watch is whether new pending sales begin absorbing new listings faster than they arrive. At present, supply growth slightly outpaces demand growth.
Price Trends
Price metrics remain positive year-over-year. The average sale price was $629,917, up 3.9% from the same week last year. Median sale price was $547,750, up 5.1%. However, rolling average comparisons show appreciation moderating compared to mid-2025. Prices are still rising, but at a slower pace.
Sale-to-list metrics further illustrate bifurcation. Median sale-to-list ratio is 100.46%, indicating many homes still receive strong offers when priced correctly. However, the average sale-to-original-list ratio of 96.25% shows overpricing leads to adjustments.
Price reductions remain elevated at 514 this week, with 213 reductions exceeding $15,000. Elevated reductions signal ongoing seller recalibration in a more competitive environment.
Days on Market
Days on market reflect similar moderation. Median DOM is 47 compared to 45 last year. Rolling averages indicate slightly longer marketing times versus one year ago, reinforcing the need for pricing precision.
What This Means for You
For Buyers
For buyers, this market provides increased optionality and negotiating room compared to early 2025. For sellers, pricing strategy is critical. The first two weeks of market exposure remain the highest leverage window.
For Sellers
Sellers must not try for aspirational pricing. This is not the time to price at a price that is higher so you can “leave room for negotiation”. If your price is not compelling, no one will come to see the home, and therefore they can’t decide to make an offer. In what is now a Buyer’s market, price a bit below what you hope to get and then make sure the marketing is as complete and broad reaching as possible. And of course, make sure the home’s appearance is as clean and fresh as possible.
For Move-Up Households both Selling and Buying
Move-up households should evaluate spread dynamics carefully. In balanced markets, buy-side negotiation gains can offset moderated sale-side appreciation. In other words, you may make less on your sale, but you may also pay much less for your new home.
Overall, this is a balanced market setting up for spring. Inventory is higher. Demand is stabilizing. Rates are steady. Appreciation is positive but moderating. Days on market are slightly longer.
The key leading indicator to monitor over the next 4–6 weeks will be the 12-week rolling average of new pendings relative to new listings. If pendings begin outpacing supply on a rolling basis, pricing pressure will build. If not, we remain in a negotiable environment.
If you’re considering buying or selling in the Portland Housing Market, strategic positioning matters more than headlines. Why not let Lauren Perreault, REALTOR, help you evaluate what is the best strategy for your situation? Just click the contact link below!