Hi, I’m Jessica Ward, licensed real estate agent in Oregon and Washington with Living Room Realty. Here to tell you what you need to know about the market for early Spring 2025.
Right now, the Portland metro market continues to favor sellers—although only slightly. That means if you’re selling, you may have a bit of an edge, but it’s crucial to work with an agent who can coach you on proper listing preparation. A well-prepared home with smart staging, strategic pricing, and strong marketing can attract multiple offers quickly. On the other hand, an overpriced or not turnkey property may sit on the market, risking price reductions and losing valuable momentum.
In our office this week, we noticed the average list price has increased about 4% compared to the same time last year, reflecting steady buyer demand. Still, we’re seeing around 37% of current listings in the market take a price reduction—highlighting that even in a slightly advantageous seller’s market, buyers still have positive options.
Lenders are still offering rate buy-down programs or down payment assistance, making it easier for first-time home buyers to enter the market. Savvy buyers can target properties that have been listed longer, potentially securing better terms on repairs or closing cost credits.
When it comes to the rate of sales versus inventory, the Altos report shows around 1,193 active listings in the region. Many single family homes—especially those priced under five hundred thousand dollars—are going pending in under 28 days while listings above a million dollars are going pending in about 49 days. This illustrates a tale of two markets, with intense competition in certain neighborhoods and at certain price points while there are opportunities elsewhere for patient buyers.
According to the Market Action Index, condos in Portland take about 127 days to sell, compared to 100 days last year, while single-family homes typically take 95 days compared to 109 days on average.
I anticipate modest price growth this spring, though well-informed buyers could find leverage in pockets where listings are lingering. If interest rates drop further, expect heightened competition, higher prices, lower average days on market and narrow buyer negotiating power.
Living Room Realty provides as much information as possible to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next Living Room.
Jessica Ward
Broker | ADU Specialist | OR & WA
She/Her
My life is fueled by a
profound passion for serving others and
making a positive impact on my community.
A proud Pacific NW native, I am
intimately acquainted with the fabric of local
life – its people, its treasures, and its countless
opportunities. My sociable nature thrives on
connection, and I embrace the roles of an
active listener and clear communicator, values
that underpin the ability to forge authentic bonds.
Aptly dubbed the “queen of resources and
connections” by my clients, I bring an extensive
bag of “hats” I wear to the world of real estate.
I seamlessly meld a vast reservoir of industry
knowledge with a deeply personalized touch,
ensuring that every individual need is met.
My specializations encompass an array of real estate experience and knowledge.
From guiding first-time home buyers, strategizing with investors, building with developers, to facilitating
seamless relocations for those venturing from
afar. I’m also known to expertly navigate the intricate
terrain of down payment assistance programs,
grants, and investment opportunities.
Follow me: @Jessica_TheHomeGirl
Affiliations and Accolades:
- ADU Specialist
- Earth Advantage Certified
- Licensed Broker in Oregon & Washington
- Youth Rights and Justice (Board Member & Sponsor)
- Lents Neighborhood Association (Former President)
- Portland Metropolitan Association of Realtors (Member)
- National Association of Real Estate Brokers (Former Board Member)
- Diversity Chair Award Winner (LRR- 2022 & 2024)
- The first African American to close a transaction with a Black owned title & escrow company in Oregon state history (Vanport title & escrow)
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