The first six months of Portland’s residential real estate market closed with more inventory across certain property types than a year ago, according to a broker report.
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June data capped a first half marked by improving inventory and continued buyer demand, even as Portland's market became increasingly segmented, he said.
"The first half of the year tells a much richer story than any individual month," said Landry. "Monthly statistics naturally fluctuate, but six months of data begin to reveal meaningful trends.”
First-half
Single-family homes remain the tightest and most competitive segment, condominiums are seeing more new listings and improved buyer choice and multifamily properties continue to attract demand, Landry found.
For single-family homes, the median sales price through June was $595,500, compared with $610,000 during the first half of 2025, a 2.4% drop. Closed sales totaled 170, compared with 189 last year, a 10.1% decline. New listings declined from 272 to 239, while median days on market remained unchanged at seven days. Sellers still received 101.2% of list price, compared with 102.3% last year.
For condominiums, the first-half median sales price increased to $522,500, up from $505,000 in the first half of 2025. Closed sales declined 6.7% from 135 to 126, while new listings jumped 21.9% to  245.  Median days on market fell from 24 to 17 days.
For multifamily properties, the median sales price rose to $870,000, up from $850,000 during the first half of 2025,. Closed sales increased 10.6% to 52, while new listings climbed 19% to 94. Â Median days on the market held steady at 15 days
June overview
For single-family homes, June median pricing was essentially flat from May, while sales activity increased sharply month over month. Active inventory improved, but supply remained limited at 1.2 months.
Compared with June 2025, the median sales price declined from around $660,000 to $611,000, a 7.4% decrease, while closed sales inched up 1.9% to 53. Median days on market fell from six days to five days and active inventory increased from 52 to 63 homes.
- Median sale price: June 2026 $611,000, May 2026 $612,500, June 2025 $660,000
- Closed sales: June 2026 53, May 2026 35, June 2025 52
- Median days on market: June 2026 5, May 2026 5, June 2025 6
- Active inventory: June 2026 63, May 2026 47, June 2025 52
- New listings: June 2026 60, May 2026 60, June 2025 65
- List price received: June 2026 102.7%, May 2026 103.9%, June 2025 102.8%
- Highest sale: 10 Helene St. 3-bedroom, 2-bath, 2,110 square feet, $1.55 million
"Single-family homes continue to show the clearest imbalance between supply and demand," said Landry. "Buyers have more choices than they did a year ago, but quality homes are still moving quickly."
The condominium market showed meaningful sales activity in June, even as median pricing moved lower from May. The month showed a sharp increase in active inventory.
Compared with June 2025, condo closed sales increased 30.8%, while the median sales price declined 7.4% to $497,500. Median days on market dropped 46.5% year over year to 12 days. Active inventory increased 41.5%, and new listings rose 48.5%.
- Median sale price: June 2026 $497,500, May 2026 $600,000, June 2025 $537,000
- Closed sales: June 2026 34, May 2026 23, June 2025 26
- Median days on market: June 2026 12, May 2026 13, June 2025 22
- Active inventory: June 2026 116, May 2026 101, June 2025 82
- New listings: June 2026 49, May 2026 47, June 2025 33
- List price received: June 2026 99.7%, May 2026 98.9%, June 2025 99.9%
- Highest sale: 387 Commercial St., No. 337, 2-bedroom, 2-bathroom, 1,285 square feet, $1.15 million
"Condo buyers have more options, and that changes the psychology of the market," said Landry.
The multifamily market remains active but uneven, said Landry.
June sales increased both month over month and year over year, while inventory continued to rise.
“Buyers remain interested in Portland income properties, but they are scrutinizing operating costs, rent rolls, financing assumptions and future upside more carefully,” said Landry.
Compared with June 2025, the multifamily median sales price declined 11% to $819,500, while closed sales increased 55.6%. Median days on market fell 25% year over year to eight days. Active inventory rose 71.4%, and new listings increased 66.7%.
- Median sale price: June 2026 $819,500, May 2026 $850,000, June 2025 $921,000
- Closed sales: June 2026 14, May 2026 12, June 2025 9
- Median days on market: June 2026 8, May 2026 22, June 2025 11
- Active inventory: June 2026 48, May 2026 40, June 2025 28
- New listings: June 2026 20, May 2026 23, June 2025 12
- List price received: June 2026 99.2%, May 2026 100.6%, June 2025 99.7%
- Highest sale: 259 Vaughan St., 2 units, one 1-bedroom, one 3-bedroom, 2,859 square feet, $1.295 million
"Multifamily buyers are still active, but they are underwriting more carefully," said Landry.
Outlook
Buyers have more leverage than they did when inventory was at historic lows, said Landry.
"Portland remains a high-demand market, but it is no longer a one-size-fits-all market," he said. "Single-family homes, condominiums and multifamily properties are each behaving differently.”
