And in partnership with Pat Weiss*
 
Portland Real Estate Update

July, 2025 Update

 
Over 70 Years Combined Experience, Since 1988

Portland Market as of July, 2025 Month End

Here is our report for July, 2025 which encompasses all of June. The image is a snapshot showing what the Portland metro real estate market is like as of the end of June 2025 when compared to the end of June, 2024. Remember though this price is for all property types, including condos so detached homes are higher. Interest rates dropped a bit, and then went up again and as of today they are down a bit again, running about 6.875% for a 30 year fixed rate mortgage with good credit. At the end of June, the Portland Metropolitan area average sales price is at $611,700, up 1.3% over the the last 12 months (using a rolling average sales price for the last 12 months).

Click on the image to see the full seven page report. This report breaks down the Portland Metropolitan area by areas of town, so you can better see the prices and market activity where you live.

11,000 Homes Sell a Day in the USA

I saw this pop up this morning in my email, and it grabbed my attention. Even though there is gloom and doom everywhere people still need to move.



Here’s the thing. Sure, the pace of the market has cooled compared to the frenzy we saw just a few years ago, but that’s not a red flag. It’s a return to normal. And normal doesn’t mean nothing’s happening. Buyers are still out there – and homes are still selling.

Why? Because real life doesn’t pause for perfect conditions. There are always people who need to buy – and this year is no exception. Buyers who are in the middle of a big change in their lives, a new marriage, a growing family, or a new job still need to move, no matter where mortgage rates are. And they may be looking for a home just like yours.


Let’s break it down using the latest sales data from the National Association of Realtors (NAR). Based on the current pace, we’re on track to sell 4.03 million homes this year (not including new construction).

  • 4.03 million homes ÷ 365 days = 11,041 homes sell per day
  • 11,041 homes ÷ 24 hours = 460 homes sell per hour
  • 460 homes ÷ 60 minutes = roughly 8 homes sell every minute


That means in the time it takes to read this, another 8 homes will sell. Let that sink in. Every minute, buyers are making moves – and sellers are closing deals.


On July 4th, Caity and I listed two homes and sold a duplex. The market is still moving! If you’ve been holding off on selling your house because you think buyers aren’t out there, let this reassure you – there are still buyers looking to buy.

But since the market is balancing out, selling today takes more than just putting up a sign in the yard. You’ve got to price your house right, market it well, and know how to reach the buyers who are ready to act. That’s where we come in with 37 years in the business as a top local Realtor.



Bottom Line

The market hasn’t stopped. Buyers are still buying. Life is still happening. And if selling your home is part of your next chapter, let’s make it happen.

Roughly 11,000 homes are selling every day – and yours could be next. When you’re ready to take the next step, let’s connect.


Multi-Generational Homebuying Hit a Record High

I've mentioned this before as a trend that's happening and now the data is proving it to be true.


According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR (see graph):


“In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home—a significant increase from just 15% in 2015.”

In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise.

Pooling Resources Can Help Make Homeownership Possible. With today’s home prices and mortgage rates, it can be hard for people to afford a home on their own. That’s why more families are teaming up and pooling their resources.

By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach. As Rick Sharga, Founder and CEO at CJ Patrick Company, explains:

“There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

But this strategy doesn’t just help with affordability. It may even allow you to get a larger home than you’d qualify for on your own and that gives everyone a bit more breathing room. As Chris Berk, VP of Mortgage Insights at Veterans United, explains:

“Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.”

And momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they’re planning to purchase a multi-generational home.

Maybe it’s a solution that would make sense for you too. The best way to find out? Talk to a local real estate agent who can help you decide if this option would work for you.

Bottom Line

If your budget feels tight, buying a multi-generational home could be a smart solution. Would you ever consider buying a home with a family member? Why or why not? Let’s connect to talk through your options.

Our Summer 2025 Home Seller Guide is out!

By the way ask us about our SELLER GUIDE!


This is a pretty comprehensive guide anyone thinking of selling a home should consider reading.


It's 20 pages deep and is packed with national information on trends, with charts and expectations from national experts as to what to expect.


If you, or anyone you know is thinking of selling a home or condo this summer, please read this or pass it along.


As a "market expert" since 1988, I'd be happy to sit down with you and discuss the home sales market local to your neighborhood, as all areas and neighborhoods are different.


Search ALL Portland Area Homes

Click on the link below, or the image to search the Portland area MLS for all single family, condo, or multi-family homes in the Portland metro area. The site also includes some pre-defined common searches on the right side, and also always shows the most recent 20 listed properties in the metro area. Be sure to SAVE your search, that way you will always be notified of any new matches as they happen. Click on the photo to search now!

Thanks for checking out this newsletter, and for supporting our real estate team for all these years. We are always available for you. ROB LEVY, CAITY ABOUAF and PAT WEISS

*Pat Weiss is licensed with Oregon Referral Partners, LLC. Same address as below.

Give Us a Call
(503) 906-1444
 
Now More Than Ever, Experience Matters
The Rob Levy Team, Rob Levy Principal Broker and Caity Abouaf, Broker
Keller Williams Realty Professionals / Main Office (503) 546-9955