Welcome to our 2024 Comprehensive Market Report, tailored to provide an insightful overview of real estate trends across Portland and its major suburbs. This year has been unique—some areas experienced a decline in home values for the first time in over a decade. While the Portland Metro appreciated just over 2% overall, a closer look at specific areas reveals a more nuanced story. High interest rates, market uncertainty, and buyer anticipation of future rate drops have significantly impacted trends.
These elevated interest rates are also keeping many sellers in their homes longer than usual. Compared to last year, listings are down by just over 1,000, but with closed sales up by over 6,000, this trend could lead to a low-inventory situation once again.
Although statistics show we currently have three months’ worth of inventory on the market, the reality feels different. Well-priced, updated homes are still selling quickly, often with multiple offers, while less-competitive listings linger and skew the data.
Inside this guide, you’ll find neighborhood-specific breakdowns of key trends, including median home prices, types of homes available, and how each area fared in 2024. Whether you’re looking to buy, sell, or simply keep up with the Portland market, this guide is designed to equip you with the knowledge you need to make confident decisions.
Portland’s real estate isn’t just about numbers—it’s about the communities that make this city vibrant. From the streets of Alberta to the suburbs of Beaverton, every statistic tells a story. Explore the full report to see how your neighborhood fits into this year’s dynamic real estate landscape.
As always, feel free to reach out with any questions, and if 2025 is the year you’re ready to make a move, let’s chat! Here’s to a happy and successful 2025!