Greater Portland OR Luxury Real Estate Market Update - August 2026

The Greater Portland OR luxury real estate market is moving at two different speeds right now, depending on the type of home. As of Aug 9, 2026, there are 832 single family homes for sale and 235 of them are pending, so 28.2% of those homes are pending. There are 3.5 months of inventory, which gives us a feel for how quickly buyers are absorbing the available homes. On the condo side, there are 29 homes for sale and 4 are pending, so 13.8% are pending. Condos have 7.3 months of inventory.

That is a good reminder that there is no single answer to the question, "How is the Greater Portland housing market?" The answer depends on the type of home, the price range, the condition and how it compares with the other homes buyers can choose from.

The Big Picture

Over the six-month period, single family homes that sold in Greater Portland and surrounding Northwest Oregon communities averaged a sale price of $1,489,813 and 60 days on market. That is a market where buyers have a little more time, with buyers having time to compare options and sellers needing to pay close attention to price and condition.

Over that same six-month period, condos that sold averaged a sale price of $1,327,081 and 71 days on market. That is a slower-moving part of the market, which gives buyers more negotiating room and less patience for homes that start out overpriced.

Single family homes have 3.5 months of inventory versus 7.3 months for condos, so a buyer looking at a detached home may experience a very different amount of negotiating room from a buyer looking at a condo in the same general area.

Single Family Home Market

As of Aug 9, 2026, there are 832 single family homes for sale and 235 of them are pending, so 28.2% of the homes on the market are pending.

The busiest price range over the six-month period was $1,100,000-$1,199,999, with 220 homes sold. In $999,999-$1,099,999, there are 93 homes for sale and 35 of them are pending, so 37.6% are pending. That is one of the stronger areas for buyer activity. On the slower side, $1,900,000-$1,999,999 has 27 homes for sale and 3 pending, so 11.1% are pending.

The pricing numbers also show why it is important not to start too high. Over the six-month period, the single family homes that sold had an average original list price of $1,566,997, an average final list price of $1,522,834, and an average sale price of $1,489,813. That represents about a 2.8% adjustment before the sale, while the final sale price was 97.8% of the final asking price. In other words, homes that are priced right can still sell close to the asking price, but sellers who start too high are often having to reduce the price before buyers respond.

The bigger point is that the average does not describe every seller's experience. A home in one of the stronger price ranges can still get fast attention when it is clean, well presented and priced in line with recent competition. A home in a slower bracket can require more patience even when the overall market numbers look healthy.

Condo Market

The condo market is moving more slowly. There are 29 condos for sale and 4 of them are pending, so 13.8% of the condos on the market are pending. There are 7.3 months of inventory, which tells us how quickly buyers are absorbing that inventory. Condos that sold averaged 71 days on market over the six-month period.

The busiest price range over the six-month period was $1,200,000-$1,299,999, with 12 homes sold. One price range worth watching is $1,300,000-$1,399,999. There are 5 homes for sale and 1 of them is pending, so 20.0% is pending. That is a fairly small sample, so I would not read too much into that percentage by itself. On the slower side, $999,999-$1,099,999 has 6 homes for sale and 1 of them is pending, so 16.7% is pending. Small groups like this can change quickly from week to week, so the individual homes matter more than the percentage alone.

The pricing numbers also show why it is important not to start too high. The average sold condo started at $1,415,281, had a final list price of $1,371,050, and sold for $1,327,081. That represents about a 3.1% adjustment before the sale, while the final sale price was 96.8% of the final asking price. In other words, homes that are priced right can still sell close to the asking price, but sellers who start too high are often having to reduce the price before buyers respond.

For condo sellers, the building, HOA, monthly dues, parking, reserves, rental rules and exact unit condition can matter as much as the broad neighborhood numbers. Two condos with similar square footage can compete very differently depending on those details.

Single Family Homes vs. Condos

Single family homes are currently moving faster than condos in Greater Portland. About 28.2% of the single family homes on the market are pending, compared with 13.8% of condos. Single family homes have 3.5 months of inventory versus 7.3 months for condos. Over the six-month period, single family homes that sold averaged 60 days on market versus 71 days for condos that sold. Average sale price was 97.8% of average final list price for single family homes and 96.8% for condos. That is why broad statements about the Greater Portland real estate market can be misleading. The type of property matters.

This is also why I would not use a citywide or countywide average to price an individual property. The best comparison is the group of homes a real buyer would actually consider instead of yours.

What This Means for Sellers

For sellers, be careful not to overprice the home, and make sure it is ready to show well from day one. With 3.5 months of inventory and sold homes averaging 60 days on market over the six-month period, buyers have choices. You do not have to be the cheapest home, but buyers need to see the value when they compare your home with the others they are considering.

Condo sellers need to be especially careful not to overprice. With 13.8% of condos pending and 7.3 months of inventory, buyers have more choices and more ability to compare one unit against another. Condition, HOA strength and price can have a big effect on market time.

What This Means for Buyers

For buyers, there are enough homes to compare options, ask questions and negotiate when the situation calls for it. Buyers usually have the most leverage on homes that have been sitting for a while, need work, or started out priced too high. The best opportunities are not always the homes with the biggest price cut. Often they are the homes where the seller has become more realistic about price.

Condo buyers have additional leverage in many parts of this market because the overall pace is slower. That does not mean every condo is negotiable, particularly a well-priced unit in a desirable building, but it does mean buyers should look carefully at market time, price history and competing inventory before deciding how aggressive an offer needs to be.

Bottom Line

The Greater Portland real estate market is active, but it is not uniform. 28.2% of single family homes are pending with 3.5 months of inventory, while 13.8% of condos are pending with 7.3 months of inventory. Those are materially different conditions.

The better question is not simply, "Is the market good or bad?" It is, "What is happening with homes like this one, in this price range, right now?"

If you're considering buying or selling in Greater Portland and surrounding Northwest Oregon communities, Brandon King Real Estate Group can help you narrow the broader market data down to the specific property, neighborhood and price range that matter to your decision.

Single Family Home Market Data

Condo Market Data