Portland Real Estate: Price Cuts Deepen Buyer’s Market

Nearly half of all home sellers in the Portland-Vancouver-Hillsboro metro area have slashed their asking prices, marking one of the most aggressive repricing environments in the nation. The latest data from HousingWire shows 49.8% of active listings carried reduced prices as of Nov. 7, 2025, while homes lingered on the market for a median of 84 days.

The widespread price cuts signal a fundamental shift in negotiating power as Portland’s housing market moves firmly into buyer-favorable territory. With 5,583 single-family homes actively for sale and only 697 absorbed during the week, sellers face mounting pressure to attract offers in an increasingly competitive landscape.

Extended market times reshape seller expectations

Portland homes now take 14 days longer to sell than the national median of 77 days, forcing listing agents to recalibrate pricing strategies. The 84-day median days on market exceeds Oregon–Washington’s statewide figure of 70 days by 20%, highlighting the metro’s particular challenges in moving inventory.

Despite the pricing pressure, Portland maintains a substantial premium over broader markets. At $665,000, the median list price sits 51% above the state median of $440,000 and 54% higher than the national median of $432,980. The price per square foot tells a similar story at $308, representing a 19% premium over the state’s $259 and 45% above the national $212.

Inventory metrics point to shifting dynamics

The metro’s 2.0 months of supply indicates a market approaching balance, though still below the national 2.5 months and state’s 2.2 months. Weekly new listings totaled 335 properties, while 697 homes left the market through sales or other absorption.

Only 2.3% of sellers raised prices during the week, underscoring the one-directional pressure on asking prices. Additionally, 6.2% of properties showed as relisted, suggesting some sellers pulled and relaunched listings to reset market perception.

Business implications for market participants

Track the 49.8% price reduction rate as a leading indicator of seller urgency in client conversations. Use the 84-day median to set realistic timeline expectations for new listings. Monitor the $308 per square foot benchmark when evaluating pricing strategies across different Portland neighborhoods. Leverage the 2.0 months supply figure to demonstrate the market’s movement toward more balanced conditions compared to recent seller-dominated years.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. here. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.