A Seasonal Overview of the Portland Housing Market

“How’s the housing market in Portland?”

As a real estate agent, this is a question I get asked all the time. The short answer? People are still buying houses!

Just like any industry, there are busy seasons and slow seasons. But whether you’re buying or selling, there is always opportunity.

See also: Living in Portland, Oregon

The Portland housing market: a brief overview 

Houses in Portland move fast—especially compared to a lot of other major cities. A competitively priced house in a popular neighborhood might be pending in as little as a couple of days. 

There are a few main reasons why this is the case:

All things considered, Portland is pretty affordable.

At least compared to a lot of other West Coast cities. Los Angeles, San Francisco, Seattle—even some of the smaller West Coast cities are simply out of budget for most people in this economy.

Portland is awesome. 

People love Portland! It’s one of the most unique cities in the country, with a ton of culture and a little something for everyone. When a house goes on the market, it isn’t going to last long.  

There’s very little new construction. 

This has its pros and cons. 

On one hand, new builds can (sometimes) stick out like a sore thumb and take away from the charm of Portland’s older neighborhoods. On the other hand, new builds go up quickly and put more houses on the market. 

With a limited number of new builds in Portland, there simply aren’t as many houses going up for sale as there are in some of the surrounding suburbs like Beaverton or Tigard.

The seasonality of Portland’s housing market

The Portland housing market ebbs and flows with the seasons. Here’s an idea of what to expect:

Spring boom (late February to July)

The rain stops and the houses finally start to look cute again. Everything is in bloom and buyers are eager to move in before summer. Plus, families usually want to settle into new homes before the next school year starts.’

What happens in spring?

• The season of “more”—more listed homes, more house hunters… more competition. 

• Bidding wars are most common (especially in well-priced homes in popular neighborhoods). 

• Sellers will sometimes take advantage of high demand by pricing homes more aggressively. 

Buyers: Be prepared to act fast! Have a pre-approval in hand and be ready to make a strong offer. 

Sellers: This is the ideal time to list if you want maximum exposure and a higher chance of multiple offers.  

Summer lull (July to Labor Day)

Summer vacations and outdoor activities take priority over house hunting. Also, the school year is coming up, so a lot of families are more reluctant to move as the kids think about going back to class. 

What happens in summer?

• There is a noticeable dip in buyer activity and slower listing turnover.

• Sellers may need to adjust pricing strategies to attract buyers in a quieter market.

Buyers: This can be a good time to avoid the frenzy and possibly find less competition for homes that didn’t sell during the spring.  

Sellers: Focus on curb appeal and hosting standout open houses to draw in the fewer active buyers. 

Fall pop (post Labor Day to November)

Serious buyers tend to re-enter the market once summer vacations end and school is back in session. This brief surge occurs right before the winter slowdown. 

What happens in fall? 

• A second wave of listings appear. Usually, it’s from sellers who missed out on the spring and summer markets for whatever reason.

• Buyers tend to get more serious. The holidays are coming up and they’re looking to wrap things up before life gets too crazy. 

Buyers: Take advantage of the additional inventory, but be prepared for some competition. This period is short-lived, so don’t waste it!

Sellers: This is a great time to list for anyone who missed the spring rush. Urgency is high, so be ready. 

Winter slowdown (December to early February)

The combination of holidays, colder weather, and shorter days slows down the market significantly. Fewer people are looking to buy or sell. Things are pretty quiet… but that’s not necessarily a bad thing. 

What happens in winter?

• There are fewer listings. But there is also less competition from other buyers. 

• Homes tend to stay on the market longer. That leaves room for buyers to negotiate. 

Buyers: This is a great time to find a deal or negotiate more favorable terms. 

Sellers: If you need to list during this time, focus on making your home warm and inviting. Competitive pricing will help it stand out.

Seasonal tips for sellers

Match your listing timing to seasonal strengths. 

Spring is ideal for lush curb appeal. Fall, on the other hand, is a good time to highlight the cozy vibes that make your home feel warm and inviting. Adjust your staging to match the mood of the season!

Use seasonal marketing angles. 

Highlight how your home fits seasonal activities. In spring, showcase outdoor spaces like patios or gardens. In winter, make sure potential buyers know about that wood-burning fireplace or energy-efficient heating. 

Be ready for weather-dependent showings. 

Portland’s weather is unpredictable. In rainy seasons, keep your home extra clean (especially carpets and entryways). In sunnier months, clean your windows and open your blinds to show off all that great natural light. 

Prepare for seasonal repairs. 

Tackle any season-specific maintenance before listing. For example, clean your gutters and make sure you’re leak-free in the fall and winter. In spring, prune the landscaping and pressure wash the driveway. 

Seasonal tips for buyers

Look for off-season opportunities. 

Sellers may be more willing to negotiate during the slower seasons. Use this time to probe for deals on homes that have been sitting longer than usual on the market.

Pay attention to seasonal traffic patterns. 

Visit potential neighborhoods at different times of the day. Springtime may show lighter commutes, but winter could reveal hidden issues like flooding or traffic congestion during rainstorms. 

Use the housing cycles to your advantage. 

If you’re buying in winter, don’t hesitate to ask for extras like appliances or closing cost coverage since a lot of sellers might be more motivated during this time of year. In spring, be prepared to act fast and make competitive offers as the market heats up.

Key takeaway: The Portland housing market is cyclical. Be ready for anything!

Remember, there is never a perfect time to buy a house. If you’re serious about buying (or selling), the most important thing you can do is have everything lined up so when an opportunity comes up, you’re ready to jump on it.