Q4 2025
PACIFIC NW MARKET REPORT
ABOUT THIS REPORT
The Berkshire Hathaway HomeServices Quarterly Market Report features the latest MLS data and local market statistics. Through year-over-year comparisons of key performance indicators and market summaries, this report delivers a comprehensive overview of residential real estate activity for the regions we service across the Pacific Northwest, including:
• Greater Portland Metro Area
• Southwest Washington (Vancouver Metro Area)
• Greater Seattle Metro Area (King, Pierce, Snohomish, & Thurston)
• Mid-Willamette Valley (Marion, Polk, Linn, & Benton)
• Central Oregon
• Eugene, Coastal, and Southern Oregon (Lane, Tillamook, & Douglas)
Learn about trends affecting sales activity and price, read decisive takeaways for each market, and empower yourself with Northwest Knowledge.
ABOUT US
Since 1942, we’ve been helping people buy and sell homes in Oregon and Washington. With 30 offices and a growing regional network of nearly 1,000 real estate professionals, we lead the Northwest in delivering exceptional service backed by datadriven market intelligence, just like you’ll find throughout this report.
For more information and assistance to help successfully navigate today’s real estate market, contact your local Berkshire Hathaway HomeServices broker. We are
All statistics are based upon MLS data for the period of October 1, 2025 – December 31, 2025.
LETTER FROM THE EDITOR
As 2025 concluded, the residential real estate market shifted into a more measured pace with an expected and familiar seasonal pattern. The metrics analyzed in this Berkshire Hathaway HomeServices Quarterly Market Report, including new listings, days on market, closed sales, and average sales price, point to a moderating market, with pricing largely stable and activity adjusting in expected ways.
Interest rates continued to influence buyer behavior across the Pacific Northwest in Q4. While some buyers moved forward, others took a more patient approach, resulting in longer marketing times for sellers and a more balanced relationship between supply and demand in several regions. Importantly, where year-over-year changes occurred, they were generally modest and reinforced a market that remains stable, resilient, and well supported by long-term fundamentals. With interest rates anticipated to decline slightly in 2026, a stabilized rate environment creates increased optimism for renewed activity in the months ahead.
Markets like this reward preparation and perspective. Understanding local dynamics, pricing strategies, and timing has never been more important. That’s why working closely with a Berkshire Hathaway HomeServices Forever Agent ® can make all the difference. With trusted guidance and the advantage of Northwest Knowledge, buyers and sellers alike can navigate today’s market with confidence, positioned to make empowered decisions and move forward with clarity.
Melanie Weidenbach, President & CEO
Greater Portland Metro Area
• New Listings: Down 1% to 4,860
• Closed Sales: Flat at 5,471
• Days on Market: Up 18% to 65 days
• Average Sales Price: Flat at $601,707
The Greater Portland Metro Area market ended Q4 2025 in a position of balance. Pricing remained stable, sales activity held steady, and longer marketing times reflected a market adjusting to more normalized conditions.
DAYS ON MARKET
The average time on market increased 18% from year-ago figures, ending Q4 2025 at an average of 65 days. The increase supports a healthier pace rather than a slowdown. At 44 days, Northeast Portland posted the lowest average market time for the region.
NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES
Inventory growth improved buyer choice, while pending sales declined slightly, which is common for late-year market dynamics. New listings (4,860) were down 1%, and active listings posted a 7% increase from year-ago figures, rising to 12,137 this quarter. Pending sales missed the mark by 1%, ending Q4 2025 at 4,640.
AVERAGE SALES PRICE
In the Greater Portland Metro Area, average sales price ($601,707) was unchanged from this time last year. Most areas in the region experienced year-over-year price declines, however in Columbia County, average sales price ($477,538) was up 6%, and average sales price increased 5% from yearago figures in Milwaukie/Clackamas/Happy Valley, Newberg and Northeast Portland.
CLOSED TRANSACTIONS
Closed transactions remained essentially unchanged at 5,471, indicating steady demand even as buyers moved with greater intention, but several areas saw significant increases or decreases. In Sandy, closed units (72) jumped 20% over Q4 2024, Wilsonville was up 14%, and West Portland rose 13%, while Sherwood experienced a drop of 25% and North Portland fell 19% to 214.
GREATER PORTLAND METRO AREA
Southwest Washington
(Vancouver Metro Area)
• New listings: Down 6% year-over-year
• Closed Sales: Down 5% to 1,519
• Days on Market: Up 10% to 66 days
• Average Sales Price: Up 2% to $623,203
Southwest Washington closed Q4 with modest price growth and resilient buyer activity. While transaction volume softened slightly, the market continued to show strength in well-priced segments..
DAYS ON MARKET
Southwest Washington’s average time on market increased 10%, rising from 60 days in Q4 2024 to 66 days this quarter. In the cities surveyed for this region, days on market fluctuated. For instance, average market time fell 35% in Washougal to 68 days and rose 45% year-over-year in Battle Ground to end Q4 2025 at 87 days.
AVERAGE SALES PRICE
Average sales price in the Vancouver Metro Area ($623,203) inched up 2% from year-ago figures. In Ridgefield, average sales price ($753,725) increased 5%, while both Washougal ($691,323) and Woodland ($592,303) dipped 8% compared with this time last year.
CLOSED TRANSACTIONS
Closed transactions fell 5% from year-ago figures to 1,519 this quarter. Vancouver Metro Area cities told a different story; in many places, closed transactions were higher than this time last year. Closed units jumped 31% in Woodland (51), 18% in both Battle Ground (142) and Camas (146), and 17% in La Center (49). Conversely, closed units in Ridgefield (149) declined 14% from year-ago figures.
NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES
Fewer new listings combined with higher inventory levels created balanced conditions to close out the year. New listings (1,447) were 6% lower when compared with Q4 last year, active listings (3,474) increased 8%, and pending sales slipped 6% to 1,348 this quarter.
SW WASHINGTON METRO AREA
NUMBER OF CLOSED UNITS
Greater Seattle Metro Area
(King, Pierce, Snohomish, & Thurston)
• New Listings: Up 1% year-over-year
• Closed Sales: Down 6% from Q4 2024
• Days on Market: Up 21% to 46 days
• Average Sales Price: Flat at $877,840
The Greater Seattle Metro Area market closed Q4 2025 with steady pricing and a more measured pace. While transaction volume eased and homes took longer to sell, buyer demand remained present across urban and suburban markets, reinforcing long-term market stability.
DAYS ON MARKET
Throughout King, Pierce, Snohomish, and Thurston Counties, average days on market increased to 46 days, reflecting typical seasonal slowdown and a more deliberate buyer approach. In Redmond/Carnation, average days on market was up 69% yearover-year, ending Q4 2025 at 44 days. At 31 days, North Seattle posted the lowest average days on market for the region with no change from this quarter last year.
CLOSED TRANSACTIONS
Closed transactions in the region (12,016) fell 6% from year-ago figures. Even so, transaction levels remained healthy. On a year-over-year percentage basis, Juanita/ Woodinville recorded a 13% upswing in closed units, ending the quarter at 126. Closed transactions in Gig Harbor/Key Peninsula (185) saw the largest decline, falling 18% compared with this time last year.
PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS
Pending sales (10,497) dipped 3%, new listings (11,404) ticked up 1%, and active listings rose 15% to end Q4 2025 at 24,954 compared with 21,635 active listings in Q4 2024.
AVERAGE SALES PRICE
Despite shifting activity levels in the Greater Seattle Metro Area, the region’s average sales price remained flat year-over-year at $877,840. And while most cities in the region also recorded minimal movement, average sales price in North Seattle ($1,153,314) and West Seattle ($932,247) increased year-over-year by 7%. At $2,931,161, Mercer Island posted the highest average sales price for the region, down 5% from year-ago figures.
PACIFIC NW MARKET REPORT
GREATER SEATTLE METRO AREA
GIG HARBOR/ KEY PENINSULA
Mid-Willamette Valley
(Marion, Polk, Linn, & Benton)
• New Listings: Flat year-over-year
• Closed Sales: Down 2% to 1,060
• Days on Market: Up 19% to 69 days
• Average Sales price: Up 4% to $465,658
The Greater Salem Metro Area market showed selective strength in Q4, with price gains concentrated in several communities despite softer sales volume.
DAYS ON MARKET
Homes took longer to sell, reflecting normalization rather than declining interest. Average days on market was up 19% this quarter to 69 days, compared to 58 in Q4 2024. Market time fell 12% year-over-year in Independence (58) but surged 104% in Stayton (57). Despite the climb, Stayton still posted the fastest moving days on market average for the region.
AVERAGE SALES PRICE
Rising 4%, average sales price in the region was supported by affordability and steady demand in submarkets, ending Q4 2025 at $465,658. Average sales price in the cities fluctuated, often by double-digit percentage changes from year ago figures. The average sales price in Independence ($458,021) was up 28% from year-ago figures, and Lebanon was up 15% ($417,279), while Philomath’s average sales price ($423,323) missed the mark by 26% compared with Q4 last year.
PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS
Pending sales declined 1% to end the quarter at 926; new listings were unchanged from Q4 2024 to this quarter; and active listings ended Q4 2025 at 2,610, representing a 5% rise from year-ago figures.
HOME SALES
Consistent with common late-year patterns, closed transactions in the MidWillamette Valley were 2% lower this quarter when compared with Q4 2024. Closed units in Stayton (23) climbed 64% year-over-year, while home sales in Lebanon (70) missed the mark by 26% and Monmouth (24) fell 25%.
MID-WILLAMETTE VALLEY
MID-WILLAMETTE VALLEY
Central Oregon
• New Listings: Down 10% year-over-year to 830
• Closed Sales: Up 2% to 997
• Days on Market: Up 17% to 84 days
• Average Sales Price: Up 3% to $799,971
Central Oregon ended Q4 2025 with continued price growth and improving sales activity. While homes took longer to sell, buyer engagement remained steady in this lifestyle-driven market.
AVERAGE SALES PRICE
Average sales price in Central Oregon increased 3% from year-ago figures, ending Q4 2025 at $779,971 and reinforcing long-term demand and value stability. In Redmond/Terrebonne, average sales price ($586,810) was up 9% from this time last year, and in Sunriver, prices ticked up a slight 1% year-over-year to end the quarter at $858,771.
CLOSED TRANSACTIONS & PENDING SALES
Sales activity improved slightly, positioning the region as one of the quarter’s stronger performing areas. Closed transactions ended the quarter at 997, rising 2% from this time last year. Closed units in Sunriver (49) jumped 75% year-over-year and Bend increased 12% to 609, while closed units in Redmond/Terrebonne (218) fell 12% compared with Q4 of 2024. At 869, pending sales in the region were up 3% from year-ago figures.
NEW & ACTIVE LISTINGS
Central Oregon’s new listings (830) fell 10% compared with this time last year. Active listings posted positive numbers, rising 2% from year-ago figures to end the quarter at 2,708.
DAYS ON MARKET
Average days on market climbed 17%, increasing from 72 days in Q4 2024 to 84 days this quarter. In Sunriver and Bend, average market time jumped 40% and 22%, respectively, and in Redmond/Terrebonne, the days on market average was 4% lower than this time last year.
CENTRAL OREGON
Eugene, Coastal, & Southern Oregon
(Lane, Tillamook, & Douglas)
• New Listings: Down 10% year-over-year
• Closed Sales: Down 2% to 1,358
• Days on Market: Up 12% to 66 days
• Average Sales Price: Down 1% to $446,047
In the Eugene, Coastal, and Southern Oregon Q4 2025 market, inventory remained at healthy levels for current buyer demand and prices remained generally stable. Eugene anchored demand, while coastal markets experienced wider swings driven by low transaction volume.
CLOSED UNITS
Closed units in Eugene, Coastal, and Southern Oregon fell a slight 2%, declining from 1,382 during Q4 2024 to 1,358 this quarter. Closed units in Tillamook (3) increased 200% from year-ago figures, Oceanside and Garibaldi both posted 33% gains, and at 524 units Eugene ended the quarter up 7% over Q4 2024
NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES
New listings were down 10% year-over-year to 1,199 this quarter; active listings inched up 3% to 3,100; and pending sales missed the mark by 7%, falling to 1,122 this quarter compared with 1,205 during Q4 of last year.
AVERAGE SALES PRICE
Average sales price in the region was 1% lower than this time period in 2024, ending Q4 2025 at $446,047. However, the average sales price in some cities experienced significant gains, rising 72% in Netarts ($826,333) and 42% in Garibaldi ($414,967), but falling 58% in Oceanside ($635,750).
DAYS ON MARKET
The average time on market was 12% higher than Q4 of last year, rising from 59 to 66 days this quarter. Oceanside experienced a 593% jump year-over-year, and Tillamook rose 271%. Netarts recorded the lowest average market time at 42 days, which represented a 38% climb from year-ago figures.
EUGENE, COASTAL, & SOUTHERN OREGON
