Noah Realty

11/07/2026

October 2026 Market Action Report

October brought a noticeable slowdown across both markets, with Portland feeling the bigger impact. Fewer homes are selling, pending activity has softened, and inventory continues to climb.

Southwest Washington is holding up relatively well. Year-to-date closed sales remain ahead of 2025, and prices continue to show resilience. However, inventory has reached 4.4 months, giving buyers more choices and putting additional pressure on sellers to price realistically.

Portland Metro is showing more signs of weakness. Closed sales are down 21.5% year over year, and inventory has increased to 4.3 months. While prices haven't moved dramatically, the decline in transaction activity is worth watching.My Take:

We're seeing two markets that are behaving somewhat differently, but the overall direction is similar. Buyers have more options, less urgency, and greater negotiating opportunities. Sellers need to understand their competition and price accordingly. The days of simply putting a home on the market and expecting it to sell quickly are behind us for now.

As always, the broader market numbers only tell part of the story. Local conditions, neighborhood trends, and individual property characteristics matter.

10/07/2026

September 2026 Market Action Report

September paints a pretty interesting picture of the market.

The slowdown is showing up much more clearly in activity than in prices. Buyers are taking longer to commit, pending sales are down, and inventory continues to build. But that has not translated into a broad decline in home values.

SW Washington is actually showing modest price growth compared with last year. The median sale price is up both year-to-date and over the trailing 12 months. September itself was softer than August, but that is a monthly fluctuation rather than evidence of a year-over-year price decline.

Portland Metro is more mixed. The median is essentially unchanged from September 2025, while the average is higher. Looking at the longer-term numbers, however, the median is slightly below last year. In other words, Portland is showing much more price stagnation than outright price deterioration.

What stands out to me is the disconnect between prices and buyer activity. We are seeing substantially less transaction activity without a corresponding collapse in prices. That suggests the market is adjusting first through volume and time, rather than through a major repricing of homes.

And that may be the most important takeaway for sellers: a slower market doesn't necessarily mean your home is worth less, but it does mean buyers have more opportunity to be selective. Pricing, condition and presentation are becoming increasingly important in determining which homes actually sell.

For buyers, the increased inventory is meaningful. There are more opportunities to negotiate and more homes to compare, but this isn't a fire-sale market either. Good homes that are priced appropriately can still command strong interest.

Noah Realty

10/01/2026

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09/22/2026

If anyone in your circle is trying to convince you that the Pacific Northwest real estate market is "just fine" right now, they aren't being honest with you—or they aren't looking at the numbers.

Take a look at the latest SentriLock lockbox activity for Oregon and Washington. In the PNW, housing has always been seasonal. Nobody wants to tour homes or move when it's dark, cold, and pouring rain, so we naturally expect a slowdown as we head into winter.

Here is what the data is actually telling us:

Oregon (Top Graph): Weekly lockbox activity sits at 17,034 showings (up a nominal +0.5% week-over-week). On the right side, the green arrow marks where showing volume should be for mid-September. The red arrow shows the reality: this volume typically doesn't show up until mid-November (as seen around 11/16/25).

Washington (Bottom Graph): Weekly activity dropped -8.0% to 2,475 showings. The green arrow shows where volume usually sits in late September, while the red arrow highlights that this lower level of activity usually isn't hit until late November.

The Bottom Line:
Both Oregon and Washington are running roughly two full months ahead of their typical seasonal slowdown compared to this time last year. Showing activity is dropping to late-November/holiday levels before fall has officially begun.

Stay grounded in the real data, not sales pitches. The demand slowdown is happening much faster than usual this year.

09/08/2026

🚨 Unusual Trend in the PNW Housing Market 🚨

​Oregon’s latest lockbox activity just dropped to 15,926 openings for the week ending September 6. While a minor post-Labor Day dip is typical, pulling back to a level this low this early in the fall market is highly unusual.
​Looking across the entire past year of data, outside of major holiday closures like Thanksgiving week (late November 2025) and Christmas/New Year's, we haven't seen weekly showing activity drop into this range. Late August and early September typically see buyers jumping back into the market following summer vacations—not hitting a pause button.

​What Does This Early Shift Mean for You?

​For Buyers: This is a rare, high-leverage window. Less foot traffic means significantly reduced competition at showings, fewer multi-offer battles, and sellers who are far more motivated to negotiate on terms, price, or closing concessions.

​For Sellers: Buyers actively touring right now aren't just browsing—they are serious and ready to make a move. To stand out when overall traffic softens early, strategic pricing and aggressive exposure are crucial.

​The market is shifting faster than expected heading into fall. Curious what these showing numbers mean for your specific neighborhood or property value?

​📩 Send Noah Realty a message today to get ahead of the trend!

The most recent SentriLock lockbox stats are now available, showing the number of times RMLS subscribers opened SentriLock lockboxes in Oregon and Washington for the given week.

09/05/2026

CAN YOUR AGENT PROVIDE YOU THIS LEVEL OF DETAIL ABOUT YOUR LOCAL REAL ESTATE MARKET?

09/04/2026

August 2026 Market Analysis

August may be the month that finally signals a meaningful shift in our housing market.

The biggest thing I'm watching isn't prices—it's inventory.

Southwest Washington jumped to 4.2 months of inventory in August, up significantly from July. We haven't seen inventory at this level in years. Portland Metro also moved higher, reaching 3.8 months. Four months isn't a buyer's market by traditional standards, but it is a dramatic change from the 2–3 month inventory levels we've become accustomed to.

And here's what's particularly interesting: inventory increased even though new listings actually fell sharply in August. That's telling us that homes aren't being absorbed as quickly as they were earlier in the year.

That puts buyers in a much better position. They have more choices, more time to make decisions and, increasingly, more leverage when negotiating with sellers.

For sellers, this is where the market gets more challenging. Pricing a home correctly from the beginning is becoming critical. A home that is overpriced today can sit while competing properties come onto the market, and once a listing starts accumulating days, the seller often ends up chasing the market rather than leading it.

The good news is that I don't see a crash developing. Prices in Southwest Washington are still holding up well, and the market is nowhere near the oversupply we saw during some previous downturns. What we're seeing is a normalization of supply and demand—and potentially the most balanced market we've experienced in several years.

Portland is further along that path. Sales are softer and prices are essentially flat, while inventory continues to build. Southwest Washington is still performing better, but the rising inventory suggests it may be heading in the same direction.

The next few months will be important. If inventory continues to rise while pending sales weaken, we'll have a much clearer indication that the market is shifting toward buyers. If inventory starts falling as we move into fall, August may simply turn out to be the seasonal peak.

Either way, 4.2 months of inventory in Southwest Washington is something sellers should pay attention to. This isn't the market of the last few years—and buyers are beginning to have a seat at the table again.

08/31/2026

The Seasonal Shift Came Early: What Latest SentriLock Data Means for PNW Real ESTATE
​Pacific Northwest real estate operates on a strict seasonal rhythm. Summer brings high demand and packed open houses, fall sees a gradual tapering as school starts, and winter brings a noticeable crawl where early darkness, rain, and holiday schedules cause showing volume to drop significantly.
​Normally, late August maintains strong residual summer traffic before autumn slowdowns begin. However, the latest regional SentriLock data shows buyer showing activity across Oregon and Washington is cooling off over a month ahead of schedule, heading straight toward typical late-fall patterns.
​What This Means for Sellers
The window for passive selling has closed early. Waiting until mid-autumn to list risks launching straight into full "winter crawl" conditions.
​Price accurately on Day 1: Capturing active buyers immediately is critical while initial listing momentum is highest.
​Maximize digital reach: With overall physical showing volume lighter, high-quality media and targeted marketing must work harder to pull serious buyers through the door.
​What This Means for Buyers
An early drop in showing traffic moves the advantage in your direction well ahead of the holiday season.
​Less competition: Fewer buyers touring homes means reduced risk of multiple-offer bidding wars.
​Increased leverage: Sellers experiencing an early dip in foot traffic are often far more open to price adjustments, repair credits, or flexible terms.
​Markets don't wait for the calendar page to turn, and your strategy shouldn't either.

The most recent SentriLock lockbox stats are now available, showing the number of times RMLS subscribers opened SentriLock lockboxes in Oregon and Washington for the given week.

08/23/2026

Looking for the perfect property on acreage with a shop? Look no further! Come see me today 11-3 (Sunday)it is a magical property indeed! 🌲🚜

​Here’s what’s waiting for you:
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​Come for the tour, grab some fruit, and fall in love with this unique retreat.
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📍 Details:

Welcome to your own private retreat! Nestled on a level 2.45-acre parcel, this beautifully remodeled and updated 4-bedroom, 2.5-bath home offers the perfect blend of comfort, privacy, and adventure. With a layout ideal for multigenerational living, you'll enjoy a peaceful, park-like setting surround...

08/19/2026

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