Alameda Realty LLC

Portland Listings See More Price Cuts
As someone who’s spent a lifetime in Portland real estate, I’m seeing a subtle but important shift in our market. The median list price is holding steady at $595K—about 1% lower than last year—and active listings are up approximately 3%, offering buyers more options, even as our market remains competitive. Sellers, however, are still a bit hesitant, with new listings down roughly 2% compared to this time last year. That means well-presented homes continue to attract real interest, especially in neighborhoods where demand is always strong.

One notable trend: about 30% of active listings in mid-Q3 2026 have had price cuts. For buyers, this opens doors for negotiation; for sellers, it reinforces the value of pricing accurately from the start. Homes are taking a bit longer to sell—averaging 61 days, up about 2%—which gives buyers a little more breathing room, while sellers who price strategically still see good results without having to make later adjustments.

Overall, supply has grown, but only modestly. Portland remains a relatively tight market, especially for those looking for homes with character and history. As always, my focus is on guiding clients through these nuances—using deep local knowledge and decades of experience to help you achieve your real estate goals.

Why Buyers and Sellers Are Stuck
Lately, I’ve been hearing from both buyers and sellers who feel stuck in this market—and I completely understand why. With mortgage rates higher, the cost of monthly payments is making many buyers pause, waiting for a better opportunity before making a move. We’re seeing this reflected in the numbers: pending sales have slowed, which means fewer people are moving from browsing to actually submitting offers. On the flip side, homeowners who secured lower mortgage rates in years past are understandably hesitant to list their homes, not wanting to give up those favorable terms. The end result is a classic stalemate—buyers are holding out for more affordable options, while sellers are reluctant to part with their low rates, and transactions are moving at a slower pace than usual. As someone who’s spent decades helping clients in Portland’s close-in neighborhoods, I know how challenging it can feel to make decisions in uncertain times. My goal is always to provide honest guidance and local insight, whether you’re considering your next step or simply waiting for the market to shift.

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Three U.S. Housing Signals for September
As we head into September, several national housing trends are worth noting—especially as they shape the experience for both buyers and sellers here in Portland. Pending home sales saw a slight yearly dip, ending an eight-month streak of gains as higher borrowing costs began to temper buyer enthusiasm. Contracts have softened year-over-year, homes are averaging 60 days on the market, and mortgage rates have risen from around 6% earlier this year to the high-6% range now.

Buyers are finding a bit more leverage, with the median list price slipping to $424,500, price cuts now occurring on about 20% of listings, and active inventory up roughly 4%. Yet, despite more homes on the market, national inventory remains about 11% below pre-pandemic norms—a reminder of the persistent housing shortage even as some buyers hesitate.

Experts are keeping close tabs on seller delistings and shifting pricing strategies, as well as whether regional trends will continue to converge in response to tighter borrowing conditions. With over 25 years in Portland real estate and a particular focus on our close-in neighborhoods and classic homes, I’m always tuned in to how these larger shifts play out locally. Every market presents its own unique opportunities and challenges, and thoughtful guidance is essential as we navigate this evolving landscape together.