Portland Senior Housing Market Report – January 2025
Hi and welcome to another monthly Portland metro area senior housing market report! Before we get into crunching the latest numbers (who doesn’t love crunching some big housing numbers?), let’s quickly spotlight a couple of other worthwhile things to be aware of this time of year.
Home Maintenance Spotlight
January is an ideal time to check and replace your furnace filters – a simple task that can improve your home’s air quality and heating efficiency during these peak winter months. Most filters should be changed every 3-6 months, but during heavy-use winter months, a monthly check is wise. A clean filter not only helps your furnace run more efficiently but can also reduce your heating costs and extend your system’s life. Put filters on your Christmas wish list for next year! 😄
Community Spotlight
And while we’re talking about improving our winter heating situation, why don’t we add a little more light to these long cold, winter days. Mark your calendars for the Portland Winter Light Festival (February 7-15th, 2025), which transforms our city with stunning light art installations across easily accessible locations throughout Portland. The last year I attended (at the big display near OMSI) it knocked my socks off. Hurray for the arts in winter!
Now, let’s focus on what you’re here for – the Portland Senior Housing Market Report January 2025. With balanced inventory levels and modest price appreciation, December’s data reveals a market that’s offering opportunities for both buyers and sellers as we move into 2025.
Market Snapshot: December 2024
December showed the resilience of 2024 with 1,534 closed sales – a 15.3% increase from last December. Even during the holiday season, we saw 1,068 new listings enter the market (up 4.1% from last year) and 1,326 homes go under contract.
Home Values
The median sale price in the Portland metro area reached $543,000, representing a modest 2.1% increase from last year. The average sale price settled at $608,600, up 1.8% from December 2023. For our 55+ homeowners who have built substantial equity over the years, these steady increases continue to strengthen your position for future housing choices, whether considering rightsizing, aging in place, or supportive community living.
Market Timing
Currently, homes are spending an average of 74 days on the market, and we’re maintaining 2.7 months of inventory. This increasingly balanced market pace is particularly favorable for our 55+ clients, allowing time for thoughtful decision-making and careful planning of next steps.
Price Range Distribution
Understanding where homes are selling can help you evaluate your options. Here’s how December’s sales were distributed:
21.1% of sales: $400,000-500,000
20.1% of sales: $500,000-600,000
14.8% of sales: $600,000-700,000
These price ranges are particularly relevant for those considering rightsizing options, as many single-level homes and homes in 55+ communities in the Portland metro area fall within these brackets. The high number of sales in these price ranges means there’s plenty of activity for both buyers and sellers – good news whether you’re looking to sell your current home or find your next one.
Making the Most of Winter Market Timing
If you’re considering a housing transition in 2025, these winter months offer several strategic advantages for planning ahead:
Decluttering & Organization
– Take advantage of indoor weather to sort through belongings
– Start small with one closet or room at a time
– Consider which treasured items you’ll want in your next chapter
Research & Exploration
– Visit different neighborhoods during winter conditions
– Research property tax rates across different areas
– Explore various housing types (single-level homes, condos, 55+ communities)
– Get a Free Comparative Market Analysis to understand your home’s current value
Home Preparation
– Schedule any deferred home maintenance to protect its market value
– Consider high-ROI updates
– Document home improvements for future marketing
Financial Planning
– Review property tax statements and payment options
– Explore senior-specific tax programs and deadlines
– Connect with financial advisors about future needs and goals
Family Communication
– Use winter gatherings to discuss future housing plans
– Share research findings with family members
– Create a timeline that works for everyone involved
The Value of Looking Ahead
Whether you’re planning a move this year or simply staying informed about your home’s value, understanding market conditions helps you make confident decisions. The current increasingly balanced market offers time to explore options without pressure.
Ready to Learn More?
At Silver Compass Property Group, we specialize in helping you navigate housing decisions at your own pace. Let’s schedule a relaxed phone consultation to discuss your current situation and thoughts about the future. We’re here to provide clear information and support as you explore your options.
Thanks for reading : )
Peter Lindberg
Lead Broker – Silver Compass Property Group
503-806-4277
