“Portland’s condo market has shifted from peak competition to a more balanced environment for buyers and sellers.”
Our review of Portland condo sales over the past three years, supported by both market data and on the ground experience, shows a clear shift from the ultra competitive conditions of 2023 and 2024 to a more balanced market in 2025.
Pricing
Median condo prices climbed steadily through 2024, then declined approximately 12.5 percent in 2025, landing close to 2023 median levels.
Despite this pullback, in town condos remain priced meaningfully higher than pre 2023 norms.
Sales Activity
Closed sales volume in 2025 closely mirrors 2023, while 2024 stood out as an outlier, with sales activity roughly 21 to 28 percent higher than both adjacent years.
Time on Market
Median days on market increased from 7 days in 2023 to 19 days in 2025, signaling slower buyer decision making and reduced urgency.
Negotiability
In 2023, condos sold at an average of 101.5 percent of list price.
By 2025, sales averaged 99 percent of current list price and just 95 percent of original list price. This reflects more frequent price reductions and greater buyer leverage.
Condo Fees
Across many associations, condo fees have risen approximately 25 to 40 percent while service levels have largely remained the same.
The most significant increases have been driven by insurance, property management, and snow removal.
These rising carrying costs are likely contributing to longer days on market and increased price sensitivity among buyers.
Bottom Line
Portland’s condo market remains fundamentally strong, but conditions have normalized. Prices are still elevated, inventory has grown, and buyers are taking more time and negotiating more aggressively.
Sellers who price realistically and account for higher monthly fees are better positioned for success in today’s market.
