As the long summer days wind down and we shift into new routines—back-to-school drop-offs, cozy evenings, and pumpkin spice everything—the Portland real estate market is also stepping into its next season. Fall always brings a fresh rhythm, and this year is no exception.

Here’s what’s happening right now:

• Market Awakening: The market tends to “wake up” after Labor Day. Expect a wave of new listings in early September as sellers get serious before the holidays.

• Inventory Edge: Homes are taking an average of 52 days to go pending—a slower pace than last year. Still, well-priced, move-in ready homes can sell in under a week.

• Competitive Pricing: Nearly half of homes have had price reductions recently, and the average price per SQFT is easing back—a sign sellers are adjusting to today’s buyers.
• Buyer’s Market Edge: With 3.7 months of supply and longer listing times, buyers now have more homes to choose from, stronger negotiating power, and a chance to secure favorable terms.

Just like pulling on that first cozy sweater of the season, now is a time of change—and for buyers and sellers alike, it’s a moment full of opportunity.

I’m seeing this shift firsthand in my own showings and conversations with clients this week—it’s an exciting time to be in the market.