Portland-Vancouver-Hillsboro, OR-WA

The current market dynamics indicate a shift toward more measured transaction paces, influenced by increasing inventory levels. The expansion in active listings suggests reduced inventory pressure, potentially providing purchasers with a broader selection. Sellers are likely experiencing a need for greater price discipline, as evidenced by declining median list prices and an increased share of price reductions, impacting negotiation leverage.

The luxury segment shows signs of softness, with the average listing price declining 3.3% year-over-year, which is a steeper decline than the median listing price. This widening spread between average and median pricing, alongside a 2.0% year-over-year drop in median price per square foot, points to some value adjustments in higher-priced properties.

8,984 active listings represent the current floor, with new supply arriving at roughly 2,934 per month.

of active listings carry a price reduction, +1.3% from prior period.

Median price per square foot has moved -2.0% year-over-year.

Pending-to-active ratio — Cooling.