Overview/Fluctuations ~ April 2025 Market Data:
Contrary to national trends, general consensus among Realtors in the Portland and surrounding areas is that activity took a big leap in April. It seems the numbers bear that out. Up in activity & prices from March. Time on the market is down. All that indicates Buyers are out and wanting to get some stability in their lives during somewhat uncertain times. Waiting for lower rates means waiting for more activity/competition which also inevitably means higher prices. Sometimes it’s good to consult a mortgage pro about what you can afford, make your move, and refinance later on at a lower rate.
That said, in the Neighborhoods Report below, you’ll see that prices dropped in Gresham, Beaverton & Hillsboro, which is great for Buyers. They also dropped in Lake Oswego but there is such a wide range of prices there that it is not a good indicator overall.
Rates: “Rates have ticked up recently as the Federal Reserve continues to watch for data to determine future rate cuts. Currently, 30 year fixed rates are hovering in the high 6.9 to low 7% range. All eyes are on the upcoming FOMC meeting June 17th and 18th, which will include a Summary of Economic Projections.” Gretchen Russell, Senior Mortgage Consultant,Two Rivers Mortgage
According to the RMLS Market Action Report for the Portland Metro Area April 2025:
- There were 3,358 New Listings in April which increased 7.6% from the 3,120 in April 2024 and also increased 25.9% from the 2,667 in the previous month/March.
- At 1,880 April 2025’s Closed Sales (Solds) are down 0.2% from April 2024’s 1,883 and up 16.6% from the previous month’s total of 1,613.
- At 2,225 April 20down’s Pending Sales (Accepted Offers) are down 3.8% from April 2024’s 2,313, and up a scant 1.2% from the previous month/March’s total of 2,199.
- The Average Sale Price for April 2025 of, $616,700 is down slightly/$2,200. from last year/April $618,900, and up a whopping $19,430 from the previous month/March’s $597,400.
- The “Median Sale Price (the price smack dab in the middle of all sales) in April 2025 of $550,000 is up $7,000 from April 2024’s $543,000, and up $8,000 from the previous month’s $542,000.
