Portland Median Home Prices Dip Amid Rising Inventory

PORTLAND, Ore. (AP) — Oregon's Portland housing market showed signs of cooling in April 2026, with median sale prices hovering in the mid-$500,000s amid a surge in inventory. Data from Fiv Realty Co. for the week of April 6-12 pegged the median sale price at $550,000, down 0.7% from $554,120 the prior year, while the average sale price fell 1.6% to $616,619 from $626,465. Active listings reached 6,551, up 10.5% year-over-year, and homes sold at 100.62% of asking price — still above last year's mark despite the extra supply.

Realtor Lauren Perreault of Fiv Realty highlighted the compression in days on market, dropping sharply to a median of 18 from 66 in early February, indicating well-priced properties move quickly. Keenan Driscoll Realty's April report noted a median home price in the mid-to-high $540,000s, slightly up from March but with 46% of listings seeing price reductions. Living Room Realty reported a median list price of $659,450 and average days on market around 102, with 33% of listings cut prices, underscoring buyer selectivity in neighborhoods from inner Portland to suburbs.

Redfin data for March 2026 showed Portland's median sale price at $525,000, up 5.1% year-over-year but with homes selling in just 19 days on average, faster than 24 days last year. Norada Real Estate pegged the April median at $529,000 with 73 days on market and a 2.7% inventory increase. Mortgage rates dipped a quarter-point to 6% that week — the largest single-week drop since February — boosting pending sales 4.9% year-over-year to 3,332 total and new pendings up 9.8% to 686.

Experts like those at Keenan Driscoll describe the market as stable and balanced, with core Portland neighborhoods holding value while suburbs soften slightly. The 12-week rolling average price of $615,728 remained essentially flat year-over-year, and April's average of $619,992 across 835 sales was down from $642,160 across 953 sales in 2025. As inventory grows, realtors emphasize strategic pricing for sellers in this buyer-friendly shift.