Portland Housing Market

Home sales rose in July while inventory continued to grow across the metro. Prices also edged higher, but buyers had more homes to choose from than they did a year ago.

Portland saw more buyers enter the market in July. Home sales rose 2.9% from a year earlier, finishing 77 transactions ahead of July 2025. Population growth continued to support the market. Portland added more than 11,000 residents year over year, according to the latest Census population release. That growth happened even as several key office-using employment sectors continued to post annual declines. Migration may have provided another boost. State-to-state data showed a net inflow of more than 13,000 residents from California to Oregon, likely from higher-cost housing markets. More people moving into the region can mean more competition for homes, particularly in fast-growing suburbs. Neighborhoods in Washington County and Clark County posted some of the strongest sales totals in July. Cedar Mill, Aloha, Battle Ground, Bethany, and Orchards all ranked among the top seven neighborhoods for home sales during the month.

Inventory rose 3.3% from a year ago, adding 338 homes and bringing the total number of listings to 10,541. That increase trailed the national inventory growth rate of 4.4%, but it still expanded the pool of available homes across the metro. For sellers, homes are still moving, but growing inventory means buyers have more alternatives than they did a year ago. Thus, days on market held steady at 49, while months of supply edged up 1.1% year over year to 4.4 months. That remained slightly below the national figure of 4.7 months, which rose 2.6% from a year ago.

View the latest homes for sale in Portland.

Home prices gained a little momentum in July. Portland’s median home sale price rose 1% from a year earlier, increasing by $5,400 to $570,400. The effect of inventory rising faster than sales meant sellers still needed to be slightly flexible to close deals. The July sale to list price ratio of 97.6% indicated that intense bidding wars are no longer the norm. Even with slower appreciation, Portland continued to rank among the nation’s more expensive housing markets. The metro placed 12th among the 40 largest markets for median home price. Portland’s median price sat just above Miami at $550,000, while remaining below Sacramento at $590,000 and the Inland Empire at $587,000.

The median home sale price in Portland increased by 1% compared to the same time last year, while the national median price rose by 2.6%.

Portland median home prices rose by $5,400 year over year on a nominal basis in July to $570,400. Meanwhile, the national median home price increased by $10,000 to $400,000.

Portland was the 12th highest-priced housing market among the top 40 largest markets last month. The Portland median home price of $570,400 was 42.6% above the national median home price. Portland's median home price in July compares to the market's peak of $579,000 recorded in June of 2025.

The median price of Portland single-family homes rose by $7,950 over the past year to $606,950, while the median townhome price declined by 2.4%, and the median condo price fell by 0.5%.

The number of homes for sale in Portland increased by 3.3% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Portland homes for sale rose by 338 year over year in July to 10,541 homes for sale. Portland ranked 22nd, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Portland homes for sale were below their pre-pandemic levels in the month of July. Portland homes for sale were 14.8% below the July 2019 total of 12,376.

Portland single-family homes for sale grew by 1.8% to 7,918 in July. In comparison, townhomes for sale rose by 25.1% to 578, and condos for sale increased by 4.2% to 2,045.

The number of home sales in Portland increased by 2.9% in July compared to the same time last year, while national home sales rose by 2.9%.

Portland home sales increased by 77 year over year on a nominal basis in July to 2,711. For context, 2,634 sales closed in Portland in July 2025.

Portland ranked 15th for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July increase of 2.9% compares to the 3% year over year decrease in July 2025.

Portland single-family sales increased by 1.5% in July to 2,266. In comparison, townhome sales rose by 18.3% to 129, and condo sales rose by 8.2% to 316.

For questions and commentary about this report:

John Gillem, Senior Director of Market Analytics at CoStar and Homes.com, based in Portland, is available for interviews to provide expert insights on this data and the broader residential real estate market.

John Gillem

Senior Director of Market Analytics

Homes.com

jgillem@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Portland during July 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.