As we moved into the holiday season, the Portland Metro real estate market settled into its typical late-autumn rhythm. November 2025 brought the expected seasonal cooling in activity compared to the pace of October, but year-over-year data reveals some interesting stability and even pockets of growth in buyer activity.
Here is a breakdown of the residential highlights for November 2025.
New Listings
Inventory tightened significantly as sellers pulled back for the winter season.
- November 2025: 1,437 New Listings
- November 2024: 1,459 New Listings
- Year-Over-Year: 1.5% Decrease
- Month-Over-Month: 39.3% Decrease (from 2,366 in October 2025)
While a nearly 40% drop from October seems drastic, it is a standard seasonal trend as fewer homeowners list their properties during the holidays. The year-over-year numbers remain relatively flat, showing a consistent level of seller confidence compared to last year.
Pending Sales
Despite the drop in new listings, buyer demand showed resilience.
- November 2025: 1,628 Pending Sales
- November 2024: 1,582 Pending Sales
- Year-Over-Year: 2.9% Increase
- Month-Over-Month: 18.1% Decrease (from 1,988 in October 2025)
The highlight here is the 2.9% increase in pending sales compared to November 2024. Even with fewer homes to choose from, more buyers were putting homes under contract this November than they were a year ago.
Closed Sales
Closed transactions reflected the lower inventory and seasonal slowdown.
- November 2025: 1,520 Closed Sales
- November 2024: 1,681 Closed Sales
- Year-Over-Year: 9.6% Decrease
- Month-Over-Month: 26.4% Decrease (from 2,066 in October 2025)
Prices, Inventory, and Market Time
Home values in the Portland Metro area remain strong.
- Average Sale Price: $599,700
- Median Sale Price: $535,000
- Total Market Time: 72 Days
- Months of Inventory: 3.8 Months
With inventory sitting at 3.8 months, we are seeing a market that offers more balance. While still leaning slightly towards a seller’s market, buyers have more breathing room than in previous peak seasons. The average total market time has extended to 72 days, indicating that buyers are taking their time to find the right property, and sellers should be prepared for a slightly longer timeline to close.
Summary
November 2025 followed the classic seasonality of the Pacific Northwest real estate market: fewer listings and slower closings. However, the increase in pending sales year-over-year suggests that serious buyers are still active, regardless of the season.
Whether you are looking to buy while competition is lower or selling and need a strategy to stand out during the winter months, we are here to help.
Ready to make a move? Contact Cano Real Estate today to discuss your goals!