Portland Metro Real Estate Market Update: February 2026

The Portland metro real estate market kicked off 2026 with plenty of activity, and the latest RMLS data gives us a clear picture of how things are shaping up for buyers and sellers alike.

Home Prices: Where We Stand
According to RMLS, the median sale price in the Portland metro area was $535,000 in January 2026, up 2.5% from January 2025. In February 2026, the median price edged up to $540,000—a 0.9% increase month-over-month and a 3.1% rise compared to last February. This steady appreciation reflects ongoing demand, even as the market cools from the frenzied pace of previous years.

Inventory: Gradual Improvement
Inventory levels are slowly improving, giving buyers a bit more choice. January saw 1.7 months of inventory on the market, which ticked up to 1.9 months in February. While still considered a seller’s market (generally under 3 months of supply), this is a notable improvement from last year’s tighter conditions.

Days on Market: Homes Moving Faster
Homes in the Portland metro spent an average of 40 days on the market in January, dropping to 36 days in February. Well-presented and competitively priced homes are still selling quickly, especially in popular neighborhoods.

Mortgage Rates: A Stabilizing Force
Average mortgage rates for a 30-year fixed loan hovered around 6.2% in January and held steady at 6.1% in February. While higher than the historic lows seen a few years ago, this stability is giving buyers more confidence as they plan their budgets.

Tips for Buyers and Sellers

• Buyers: With inventory gradually increasing, take time to explore your options, but be ready to act when you find the right home. Lock in a mortgage rate if you’re comfortable with current levels, as future changes are always possible.
• Sellers: The market remains in your favor, but pricing and presentation are key. Homes that are move-in ready and well-priced continue to attract strong interest and quick offers.

The Bottom Line
The Portland metro real estate market in early 2026 is marked by steady growth, improving inventory, and a sense of cautious optimism. Staying informed and working with a local expert can help you make the most of these evolving conditions.