February Real Estate Market Update

Hi Friends!

Spring is officially in the air - and the Portland market is feeling it. February's numbers tell a story of momentum: more listings coming on, more buyers writing offers, and homes moving faster than they were just a few months ago. If you've been sitting on the fence about buying or selling this spring, this is your sign to start the conversation.

On the ground right now

The energy has shifted. More inventory is hitting the market, buyers are active and engaged, and we're seeing real movement - especially on homes that are priced well and show beautifully. The spring market isn't coming; it's here.

Portland Metro: what the latest RMLS report is showing (February 2026)

• Inventory: 3.6 months - down from 4.3 months in January, meaning supply is tightening as buyer demand picks up
• Total market time: 91 days - essentially flat from last month, so buyers still have time to be thoughtful, but well-positioned homes aren't sitting long
• New listings: 2,260 - up 7.2% from January and up 17.1% from February 2025. More options for buyers, more competition for sellers to be aware of
• Pending sales: 1,821 - up 6.6% from January and up 10.5% from a year ago. Buyers are moving
• Closed sales: 1,405 - up a strong 26.5% from January (closings are reflecting all those contracts written earlier this year)
• Prices: The rolling 12-month median is flat year-over-year at $545,000 - steady as she goes

So what does this mean for you?

For sellers: Inventory is coming down and buyer activity is climbing - that's the combination you want. The window to list before the market gets crowded with spring competition is now. Turnkey, well-priced homes are getting attention; anything overpriced or needing work will still face scrutiny from today's thoughtful buyers.

For buyers: You've got more options than you did a year ago, and market time is still long enough to do your due diligence. But tightening inventory means that window may not stay open forever. If you've been waiting for the right time to get serious, this spring looks like it.

One more note worth highlighting: the affordability index shows a family earning Portland's median household income (~$124,100) can cover about 99% of a mortgage payment on a median-priced home at current rates - a useful benchmark as you think through what's realistic for your budget.

Want to know how these trends translate to your specific neighborhood? Reply and we'll put together a personalized micro-market update or home value range - always happy to help you make a confident next move.

— Megan