After a winter of slower activity and lingering listings, March marked a shift in Portland’s residential real estate market as buyers returned, homes began moving more quickly and inventory continued to build.
The shift followed months of subdued conditions, and reflected a transition back toward a more seasonally typical market, possibly due to warmer weather, stabilizing interest rates, and increased selection, according to a monthly report from Tom Landry of Benchmark Real Estate.
Below are month-over-month for February compared with March.
Single-family
The single-family market showed a strong rebound in March, with sales activity rising significantly, inventory expanding notably and homes selling in roughly half the time Compared with March 2025, prices were up 11.5%, sales increased 18.8% and days on market dropped 32.6%, indicating stronger demand and improved absorption.
However, new listings were down 37% year-over-year and inventory was down 8.3%, suggesting supply constraints still exist beneath recent monthly gains.
- Median sale price: February $580,000; March $605,000 (up 4.3%)
- Closed sales: February: 13; March: 19 (up 46.2%)
- Median days on market: February: 65; March: 30 (down 53.8%)
- Active inventory: February: 21; March: 33
- Top single-family sale: 4 Walker St, $1 million, four-bed, 2.5-bath, 3,025 square feet
Condominiums
The condo market saw a dramatic turnaround in March, with a sharp increase in pricing and sales activity, alongside a significant drop in days on market, he said.
Compared with March 2025, prices rose 16.7% and sales increased 50%, while days on market edged up by 5.9%. Inventory climbed 23.8% and new listings declined 12.8%.
- Median sale price: February $432,501; March $550,000 (up 27.2%)
- Closed sales: February: 13; March: 24 (up 84.6%)
- Median days on market: February: 29; March: 9
- Active inventory: February: 74; March: 78 (up 5.4%)
- Top condo sale: 51 Carleton St., Unit A, $2.336 million, 4-bed, 4.5-bath, 2,883 square feet
“Condos are showing a strong rebound after several softer months,” Landry said.
Two- to four-units
Multifamily activity was limited in March, with no change in total sales volume and only modest price movement. Days on market increased and inventory expanded, though the sample size was small.
Compared with March 2025, prices were up 16.2%, but sales declined 12.5% and days on market dropped significantly by 67.4%. Inventory was flat year over year.
- Median sale price: February $949,000; March $950,000 (up 0.1%)
- Closed sales: February: 7; March: 7 (0%)
- Median days on market: February: 8; March: 14
- Active inventory: February: 23; March: 29
- Top two- to four-unit sale: 103 Deerfield Road, $1.15 million, two 3-bed units, 3,848 square feet
Outlook
With mortgage rates stabilizing and seasonal momentum building, the market could be competitive this spring, he said.
“April, May, and June are the months that define the market,” Landry said.
