The Portland Region Q1 2026 Attached Homes Market Update

The Q1 2026 Portland Region attached‑home update: median price $420k (‑5%), PPSF $287 (‑4%), sales +10%, dollar volume +4%. Affordability jumps to 61% (+41 pts) of the market. New construction +15%. County patterns, builder pivots, appraisal insights and more.

The Portland White Stag sign.
Photo: Abdur Abdul-Malik, Portland Appraisal Blog

Introduction

The first quarter of 2026 was a study in contrasts across the Portland region’s attached‑home market. The three major counties—Multnomah, Washington, and Clackamas—continued to anchor the segment, each revealing its own distinct pattern of demand, pricing behavior, and builder activity. Together they formed the core of the regional story: softer prices, steady buyer engagement, and a noticeable shift in how builders are positioning new product. Beneath those broad themes, however, each county expressed the quarter differently, shaped by its inventory profile, geography, and development pipeline.

Washington County remained the region’s most uniform and predictable attached‑home market, with tight clustering in the mid‑price bands and a clear, data‑driven softening that still preserved strong absorption. Multnomah showed more variation, with affordability improving and pricing adjusting in a way that reflected both buyer sensitivity and the county’s diverse housing stock. Clackamas, by contrast, continued to operate at a higher price level, with a dense band of activity in the low‑$400s and a meaningful upper‑tier presence. Builders in Clackamas also made a notable pivot toward smaller new‑construction units—a strategic response to qualification thresholds that shaped the quarter’s pricing dynamics.

Outside the “Big Three,” the story was defined not by trends but by scale. Yamhill, Columbia, and Hood River each recorded only a handful of attached‑home sales, and their year‑over‑year changes reflected the volatility inherent in extremely small datasets. In these counties, a single closing can shift averages dramatically, and the absence of just a few transactions can reshape dollar volume.

Taken together, Q1 2026 shows a region adjusting to softer demand with realistic pricing, steady buyer participation, and builder strategies increasingly aligned with affordability constraints.

Table of Contents

Data Housekeeping

The Portland Region in this update comprises the six Oregon counties of Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill. These counties form a contiguous housing ecosystem centered on Portland—Multnomah as the core home county, with the others tightly integrated through commuting patterns, economic ties, and shared market dynamics (e.g., Yamhill’s strong connection via Highway 99W and wine-country adjacency). Beyond Yamhill, the MLS system changes, further distinguishing this six-county area from broader geographic aggregations. For a detailed overview—including county profiles, population data, key value influencers, and why this definition differs from the official seven-county Portland–Vancouver–Hillsboro MSA—see the dedicated page: The Portland Region – Six-County Market Area Overview.

Colored map of the six counties comprising the Portland Region: Clackamas, Columbia, Hood River, Multnomah, Washington, and Yamhill.
The six-county Portland Region
Via SunCatcherStudio

All data is sourced from RMLS and reflects open-market attached single-family residential sales. SNL (“Sold Not Listed”) entries—off-market transactions entered retroactively—have been excluded to preserve consistency with true market activity.

All figures have undergone a standard cleaning process to address common RMLS accuracy challenges, including misclassifications (such as condominiums listed as attached homes), square‑footage and price entry errors, incomplete fields, status/date mismatches, and other non‑representative entries. This post focuses exclusively on attached homes on owned land; while a condominium townhome and an attached townhome may appear similar, their ownership structures differ substantially. Condominiums are therefore carefully removed from this dataset. For a detailed overview of these issues, their impact on market analysis, and the mitigation steps used (automated flagging, cross‑verification, and manual review), see the dedicated page: RMLS Data Accuracy Challenges.

Portland Appraisal Blog Affordability Index (PABAI)

What PABAI Measures

The Portland Appraisal Blog Affordability Index (PABAI) measures how home sale prices compare to what a median‑income household can qualify for under standard lending assumptions (HUD Portland‑Vancouver‑Hillsboro MSA median income, 20% down, and a 28% DTI for principal, interest, taxes, insurance, and HOA dues).

Unlike national affordability indices, PABAI is built from actual RMLS transactions rather than a single hypothetical price point. It computes an affordability ratio for every closed sale in the Portland Region during Q1 2026 and then averages those results—that average is the reported PABAI. Each housing segment—detached, attached, condos, and manufactured—is calculated separately, ensuring that segment‑specific dynamics are preserved rather than blended together. This approach produces far more precise, locally grounded insights into Portland‑area affordability and avoids the distortions that occur when fundamentally different housing types are combined into a single regional metric.

A PABAI of 100 means the market is exactly affordable at that income level (the Q1 2026 HUD median MSA income was $124,100 for a family of four). Values above 100 indicate excess qualifying capacity (more affordable), while values below 100 indicate a shortfall (strained affordability). Full methodology and the interpretation scale are available on the PABAI explainer page.

PABAI RangeInterpretation
120+Strongly Affordable
100–119Moderately Affordable
80–99Strained
Below 80Severely Constrained

Note: While every sale produces an affordability ratio, the PABAI itself requires at least 20 sales to be statistically meaningful. Counties with fewer than 20 attached sales will report affordability counts and percentages, but not a PABAI.

Residential Housing Snapshot

CategoryDetachedAttachedCondoManuf.
Total $ Volume$2.2B$161.0M$199.0M$32.4M
Avg Price$659,197$444,672$389,438$540,352
Avg PPSF (Total SF)$316.21$286.91$325.55$356.75
Avg Total SF2,1641,5761,1801,571
Avg Lot Size (ac)0.6550.066N/A7.959
Avg Age (Yrs)46.0315.0932.0329.10
Avg CDOM80.2280.59119.62118.25
# of Sales3,34936251160
% of Market78.21%8.45%11.93%1.40%
Highest Sale$5,725,950$1,175,000$2,450,000$2,400,000
Lowest Sale$135,000$249,000$100,000$199,700
Price Spread Ratio42.414.7224.5012.02
PPSF Spread Ratio30.934.0811.9113.29
Total SF Spread Ratio23.464.1412.243.52
Avg PABAI80.47104.13117.08110.94
Q1 2026 (4,282 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

The four residential segments in the Portland Region continue to operate as a tightly connected ecosystem, each shaping and responding to the others in predictable ways. Detached homes remain the anchor segment—by far the largest in both sales count and dollar volume—and their scale sets the tone for regional pricing, land intensity, and buyer movement. With more than 3,300 sales and over $2.2 billion in closed volume this quarter, detached homes define the outer boundaries of what the market can deliver, from sub‑$150,000 fixers to multi‑million‑dollar estates. Their wide spread ratios across price, PPSF, and size reflect this internal diversity and underscore why detached remains the segment most buyers prefer even when affordability pushes them elsewhere.

Attached homes sit directly beneath detached in the regional hierarchy and serve as the clearest alternative when detached becomes harder to access. They are the youngest segment in the metro—averaging just over 15 years old—and the most uniform, with tight spread ratios that signal a highly consistent, commodity‑like product. Their average price of $444,672 and moderate affordability (PABAI 104.13) position them as the region’s primary safety‑net for buyers priced out of detached homes. The typical attached home is smaller, newer, and far more predictable in layout and utility than detached, and this consistency is a defining feature of the segment. In Q1 2026, attached homes represented 8.45% of all residential sales but played an outsized role in absorbing affordability‑sensitive demand.

Condos remain the most affordable segment in the region, with a PABAI of 117.08 this quarter, but affordability alone does not translate into broad appeal. They are also geographically concentrated: 67.71% of all condo sales occurred in Multnomah County, with most located in the City of Portland. This concentration reflects both historical development patterns and buyer preferences—condos are scarce or nonexistent in many suburban and rural areas where detached and attached homes dominate. Their average age is more than double that of attached homes, and HOA dues shape both buyer preferences and long‑term affordability. Condos make up nearly 12% of all Q1 sales yet contribute less than 8% of total dollar volume. Given the lower average price compared to all other segments, this gap is expected and reflects the structural role condos play in the ecosystem—an accessible option for some buyers, but not a proportional driver of regional dollar volume.

Manufactured homes represent the smallest segment by far, with only 60 sales this quarter. Their averages run high because many transactions include significant acreage—an average lot size of more than eight acres—and with such a small sample, outliers exert more influence on segment averages than in any other category. Manufactured homes share several surface‑level similarities with condos (age, CDOM, affordability), but diverge sharply in how they trade: manufactured homes trade on land, while condos trade on dues.

Across the ecosystem, three of the four segments cluster in the low–mid $300s PPSF, underscoring that structure cost is relatively consistent across the metro. It is land, size, dues, and buyer preferences that create the separation between segments. Detached homes show the widest internal variation, attached homes the tightest, condos a bimodal profile shaped by older stock and boutique new construction, and manufactured homes a land‑driven spread that reflects acreage more than dwelling characteristics. This snapshot frames the broader regional context and sets the stage for the attached‑home‑specific analysis that follows.

Portland Region Q1 2026 Overview

Overall Regional Trends

The table below summarizes key metrics for attached homes residential sales in the Portland Region (Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill counties) for Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$154,193,082$160,971,196+4.40%
Average Price$470,101$444,672-5.41%
Median Price$442,425$420,250-5.01%
Avg SP/OLP97.30%96.31%-1.02%
Avg PPSF (TSF)$297.52$286.91-3.56%
Avg HOA Dues$243.36$255.05+4.81%
Median HOA Dues$215.50$233.00+8.12%
Avg Lot Size (ac)0.06210.0657+5.71%
Avg Age (Yrs)14.4015.09+4.85%
Avg CDOM84.0280.59-4.07%
Avg Total SF1,6041,576-1.76%
Total # of Sales328362+10.37%
# of New Constr.131150+14.50%
# of REOs02
# of Short Sales00
Average PABAI88.39104.13+15.74 pts
# Affordable67222+155 homes
% Affordable20.43%61.33%+40.90 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (260 sales for Q1 2025 & 279 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Key Observations From the Aggregate Data

The attached‑home segment softened meaningfully in Q1 2026, and the year‑over‑year comparison highlights a market adjusting to both price pressure and improved borrowing conditions. Average and median prices declined around five percent. This softness is not isolated—most counties saw similar declines—but Washington County’s dominance in attached‑home activity (51.38% of all regional sales) means its pricing trends exert the strongest pull on the regional averages. The ongoing impact of the Intel layoffs likely contributed to slightly faster market times, modestly lower prices, and a sharp improvement in affordability metrics.

Affordability is the standout story of the quarter. The segment flipped from strained to moderately affordable, with the PABAI jumping from 88 to 104.13. This is a substantial shift and reflects the combined effect of lower prices and better interest rates. The share of affordable attached homes surged from 20.43% to 61.33%, adding 155 more qualifying homes to the pool. This is not a compositional artifact; it is a direct response to improved lending conditions and softer pricing. When affordability improves, demand typically follows, and Q1 2026 delivered exactly that pattern.

Sales volume rose 10.37% year‑over‑year, and total dollar volume increased 4.40%. Importantly, the rise in dollar volume was driven by more sales, not higher prices. This distinction matters: it signals a market where buyers are re‑entering due to improved conditions rather than chasing rising values. The attached segment often acts as the pressure‑release valve for buyers priced out of detached homes, and this quarter’s data reinforces that role.

New construction played a meaningful part in the quarter’s dynamics. Closings increased from 131 to 150 (+14.50%), and Washington County accounted for roughly 60% of all new attached homes. This continues a multi‑year pattern in which Washington County favors new attached homes over new condos—a stark contrast to the condominium segment, which recorded zero new‑construction closings in Q1 2026. The slight increase in average age (14.40 → 15.09) despite more new construction indicates that the older resale stock still dominates the segment’s composition.

Market efficiency improved modestly. Cumulative days on market tightened from 84.02 to 80.59, and sellers yielded slightly more ground on pricing, with the average SP/OLP ratio dipping from 97.30% to 96.31%. These are small but meaningful signals of a market adjusting to softer pricing expectations. Distress remains negligible—only two REO sales and zero short sales—confirming that the segment’s softness is driven by normal market forces rather than financial stress.

Property characteristics remained stable. Square footage declined slightly (–1.76%), lot size held steady, and PPSF (based on total square footage) fell modestly (–3.56%). HOA dues increased, but only modestly (median +8.12%), far below the condominium segment’s 14% median jump. This stability reinforces that the segment’s year‑over‑year changes are driven primarily by pricing and interest‑rate dynamics rather than shifts in the underlying housing stock.

All six counties recorded attached‑home sales, though several had only a handful of closings. These counties will receive factual micro‑summaries later in the post, but the regional trends are overwhelmingly shaped by Multnomah, Washington, and Clackamas counties—with Washington County exerting the strongest influence due to its sheer volume.

Overall, Q1 2026 delivered a more affordable, more active, and slightly softer attached‑home market—one that responded predictably to improved rates and regional economic conditions. The segment’s role as the metro’s safety-net housing option is fully on display in this dataset.

Portland Region Scatter Plots

To visualize the distribution of individual attached homes sales prices across Q1 2026, the following scatter plots show sales price against date of sale:

The full‑quarter scatter plot provides a clear visual of how attached‑home prices distributed across Q1 2026. Even with normal day‑to‑day variation, the segment shows a remarkably tight mid‑market band: more than 70% of all attached sales closed between $350,000 and $499,999, and over 31% clustered specifically in the $400,000–$449,999 range. This concentration is exactly what the spread‑ratio metrics signal—attached homes are the metro’s most uniform, commodity‑like segment, with predictable layouts, consistent utility, and limited variation in size.

The scatter also shows a modest number of lower‑priced sales, but they are rare. Only eight sales closed below $300,000, and just one sale fell below $250,000. This scarcity reinforces the segment’s role in the ecosystem: attached homes are more affordable than detached, but they are not an entry‑level segment in the same way condos can be. Buyers seeking sub‑$300,000 opportunities generally must look to condominiums or manufactured homes.

At the upper end, the scatter includes a small number of premium attached homes, with roughly a dozen sales above $700,000 and three sales at or above $950,000. These outliers demonstrate that the segment can support higher‑end product in select neighborhoods, but they are too infrequent to influence regional averages or affordability metrics.

Activity is evenly distributed across the quarter, with no visible surges or drop‑offs. This aligns with the sales‑count data: closings increased year‑over‑year, driven by improved affordability and a notable rise in new‑construction deliveries. The scatter shows no abrupt price spikes or collapses—just a steady, slightly softer price environment consistent with the five‑percent decline in average and median values.

Overall, the full scatter plot reinforces the defining characteristics of the attached‑home segment: stable demand, tight pricing distribution, and a mid‑market profile that anchors the region’s affordability landscape.

Zooming in on sales priced at $600,000 or less, we have:

Note: The y-axis starts at $200,000 to allow better examination of the scatter plot.

The zoomed‑in scatter plot sharpens what the full‑scale view already suggested: attached‑home prices in Q1 2026 were tightly concentrated in the mid‑market band. With the vertical axis capped at $650,000, the plot highlights the segment’s core range—roughly $300,000 to $550,000—where nearly 80% of all sales occurred. The clustering is dense, consistent, and evenly distributed across the quarter, reinforcing the segment’s commodity‑like profile and the stability of demand throughout Q1.

The zoomed view also makes the lower‑priced portion of the market easier to see. Only a handful of sales fell below $300,000, and just one dipped below $250,000. This scarcity underscores that attached homes are not the region’s entry‑level segment; buyers seeking sub‑$300,000 opportunities overwhelmingly turn to condos or manufactured homes instead.

At the upper end, the zoomed plot shows a small number of sales pushing into the $600,000–$650,000 range. These are the same premium outliers visible in the full scatter, but the zoomed view makes clear how infrequent they are relative to the segment’s core. They represent neighborhood‑specific product rather than a broader trend.

Overall, the zoomed‑in scatter confirms the defining characteristics of the attached‑home segment: a tight, predictable price distribution; steady activity across the quarter; and a mid‑market profile that aligns with the segment’s role as the region’s primary affordability bridge between condos and detached homes.

Sales Volume

A treemap visualizing the distribution of attached homes sales by county in Q1 2026 clearly illustrates the market’s geographic concentration.

The treemap makes the geographic structure of the attached‑home market immediately clear: activity in Q1 2026 was overwhelmingly concentrated in the Big Three counties, with Washington County dominating the segment. More than half of all attached‑home closings occurred in Washington County alone, reflecting both its larger suburban housing base and its multi‑year preference for attached homes over condominiums. Multnomah and Clackamas counties round out the core, together contributing another 44% of all sales. In total, 96.13% of the region’s attached‑home activity came from the Big Three, underscoring how tightly the segment is anchored to the metro’s primary population and employment centers.

The remaining counties—Yamhill, Columbia, and Hood River—recorded only modest activity, with a combined 14 sales. These counties routinely produce small attached‑home counts due to their housing stock composition, development patterns, and buyer preferences. Their limited volume does not materially influence regional averages, but their participation confirms that attached homes are present, albeit sparsely, across the full six‑county region.

Washington County’s outsized share is especially important for interpreting regional trends. Because it accounts for 51.38% of all attached closings, its pricing, affordability, and new‑construction dynamics exert the strongest pull on the regional metrics discussed earlier. The treemap visually reinforces this influence: Washington County is not just the largest block—it is the structural center of the attached‑home market in Q1 2026.

The bar chart below compares monthly sales volume across the three months of Q1 for 2025 and Q1 2026.

The month‑by‑month comparison highlights how attached‑home activity evolved across the quarter and why total sales ultimately finished higher than in Q1 2025. The pattern is uneven but intuitive: softer pricing and improved affordability brought more buyers back into the market, but the timing of that return varied by month.

January posted a modest increase, rising from 89 to 99 sales (+10). This aligns with the early‑quarter improvement in rates and the segment’s overall affordability shift. February, however, moved in the opposite direction, declining from 127 to 99 sales (–28).

March delivered the decisive shift. Sales jumped from 112 to 164 (+52), the strongest monthly gain of the quarter and the clearest signal of renewed buyer engagement. This surge is consistent with the broader Q1 narrative: affordability improved sharply, new‑construction closings increased, and the region’s core counties saw more buyers re‑enter the market.

While Washington County held nearly steady year‑over‑year, the overall increase in regional sales volume was driven by higher activity in Multnomah County, along with additional gains in Clackamas and Yamhill counties. These counties collectively tipped the scales, pushing the quarter to a 10.37% increase in total attached‑home sales.

Taken together, the monthly pattern shows a market responding predictably to improved conditions. Buyers returned gradually, then decisively, producing a strong finish to the quarter.

Sales Price

The bar chart below compares monthly average sales prices across the three months of Q1 for 2025 and Q1 2026.

Note: The y-axis starts at $400,000 to allow better examination of monthly differences.

Average sales prices declined across all three months of Q1 2026, and the pattern is both consistent and meaningful. January fell 4.75% year‑over‑year, February declined 5.60%, and March posted the steepest drop at 6.24%. While the magnitudes differ slightly, the direction is uniform: attached‑home prices were lower every month of the quarter compared to Q1 2025.

For buyers, this softening provided a genuine silver lining. Lower prices, paired with improved interest rates, helped push affordability sharply higher—one of the defining stories of the quarter. The attached segment flipped from strained to moderately affordable, and the monthly price declines played a direct role in that shift.

The softness was broad‑based. Every county except Hood River saw both average and median prices decline year‑over‑year. Hood River recorded only one attached sale, so its stability is not meaningful in a trend sense. The regional pattern reflects a tougher quarter for attached homes overall, and given that Washington County accounts for more than half of all attached closings, its slight year‑over‑year decline carries outsized influence. The ongoing Intel layoffs likely contributed to this pressure, adding a layer of economic uncertainty that nudged pricing expectations downward.

Even so, the segment remained active. Buyers responded predictably to improved affordability, and increased sales in Multnomah, Clackamas, and Yamhill counties helped offset Washington County’s slight decline. The result is a quarter where prices softened, affordability improved, and demand strengthened—an unusual but coherent combination that reflects the attached homes market’s multi-year trend of softening prices.

New Construction

The bar graph below shows monthly total attached homes sales in Q1 2026, with new construction volume nested within each bar to illustrate the portion of sales that were newly built.

The nested bar chart makes one point immediately clear: new construction is a defining feature of the attached‑home segment. Across Q1 2026, newly built homes accounted for 41.44% of all attached‑home closings, an unusually high share for any residential segment and fully consistent with attached homes having the lowest average age of the four major single-family housing categories.

The monthly pattern is also instructive. January and February delivered solid new‑construction activity, with 41 and 32 closings respectively—roughly one‑third to two‑fifths of all sales in each month. Then March surged. New‑construction closings jumped to 77, representing nearly 47% of all attached‑home sales that month.

Regionally, these figures underscore how central new construction is to the attached‑home ecosystem. The segment relies heavily on newly built supply to meet demand, and builders continue to deliver a substantial share of the product buyers ultimately purchase.

The bar graph below shows new construction sales broken out by county for Q1 2025 and Q1 2026.

The county‑level breakout highlights how unevenly new‑construction activity is distributed across the region and why the attached‑home segment continues to have the lowest average age of the four major housing categories.

Clackamas posted a modest gain, rising from 16 to 18 new‑construction closings (+12.50%). Washington County held essentially steady, dipping slightly from 91 to 90 (–1.10%). Multnomah, however, delivered the standout performance: new‑construction closings jumped from 24 to 40 (+66.67%), making it the fastest‑growing county in Q1 2026 for newly built attached homes. Yamhill added two new‑construction sales after recording none the prior year, while Columbia and Hood River remained at zero.

Even with Multnomah’s impressive growth, Washington County remains the structural center of new construction in the attached‑home segment. Its 90 closings represent 60% of all new‑construction activity—more than the remaining counties combined. This dominance is consistent with Washington County’s multi‑year pattern: it continues to favor new attached homes over new condos, and builders remain highly active in its suburban submarkets.

Regionally, the story is straightforward: new construction is not a supplemental source of inventory—it is a core driver of the attached‑home market. Q1 2026 reaffirmed that role with strong winter performance and a March surge, supported by notable gains in Multnomah and steady output from Washington County.

The table below shows new construction sales volume by dollar amount for Q1 2026 compared with Q1 2025.

CountyQ1 2025 $ AmountQ1 2026 $ Amount% Change
Clackamas$10,129,115$8,256,272-18.49%
Columbia$0$0
Hood River$0$0
Multnomah$9,839,365$16,203,94764.68%
Washington$43,283,100$40,248,175-7.01%
Yamhill$0$859,800
Sum$63,251,580$65,568,1943.66%
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

The following double bar chart provides the above information at a glance.

New‑construction dollar volume rose modestly at the regional level in Q1 2026, increasing 3.66% year‑over‑year. But beneath that headline, the counties moved in very different directions—and understanding those differences is essential to interpreting the segment accurately.

Clackamas is the clearest example of a compositional reset rather than a pricing decline. Even though new‑construction sales increased from 16 to 18, total dollar volume fell sharply. The reason is straightforward: Q1 2025 included two exceptionally high‑end attached homes in Lake Oswego, each selling for more than $1.7M. Nothing in Q1 2026 exceeded the mid‑$500Ks. With those two luxury sales gone, the average price dropped significantly, but the median moved only modestly, reflecting a shift toward smaller, more affordable homes rather than a collapse in values.

Multnomah’s story is much simpler. New‑construction closings jumped from 24 to 40, and dollar volume rose accordingly. This is a clean volume‑driven increase, consistent with the county’s broader surge in attached‑home activity and its growing share of the region’s new‑construction market.

Washington County presents the opposite dynamic: sales were essentially unchanged, yet dollar volume declined. This signals genuine price softening, not a change in product mix. Builders conceded more on original list prices, average and median prices fell, price‑per‑square‑foot declined, and market times lengthened. Given Washington County’s outsized role in the attached‑home segment—and the economic backdrop created by the Intel layoffs—this softening resulted in builders netting roughly $3M fewer dollars year‑over‑year.

Taken together, these county‑level dynamics explain why regional dollar volume still managed a modest increase. Multnomah’s growth offset Washington County’s softening, and Clackamas’s compositional reset simply returned the county to its typical mid‑market profile. The result is a quarter where new construction remained a central driver of the attached‑home ecosystem, even as pricing pressures and product shifts varied sharply by county.

The following map shows the distribution of new construction sales.

The map of new‑construction closings reinforces a pattern that has been consistent for years: attached‑home new construction is overwhelmingly an urban and suburban phenomenon. The clusters concentrate along the westside and southside growth corridors—places like Hillsboro, Beaverton, Tigard, Sherwood, and Happy Valley—with smaller pockets extending into Gresham and the inner eastside.

What stands out is how tightly new construction hugs existing infrastructure, employment centers, and established development patterns. These aren’t rural builds or fringe‑market experiments; they’re infill projects, master‑planned communities, and suburban expansions in areas already primed for attached‑home demand. The distribution mirrors the segment’s identity: younger housing stock, smaller lots, and builder activity concentrated where land availability and zoning make attached homes feasible.

This spatial pattern also aligns with the county‑level dynamics discussed earlier. Washington County’s dominance is visible in the dense westside clusters, Multnomah’s growth shows up in the eastside and inner‑Portland pockets, and Clackamas’s contributions appear in the Happy Valley corridor.

Cumulative Days on Market

The bar chart below compares average cumulative days on market (CDOM) across the three months of Q1 for 2025 and Q1 2026.

The bar chart comparing average cumulative days on market across Q1 shows a clear and consistent pattern: the first two months of 2026 moved faster than the prior year, and those gains more than offset the slight lengthening in March.

January improved from 84 to 77 days (–8.32%), and February followed the same trajectory, dropping from 92 to 85 days (–7.62%). These early‑quarter improvements reflect stronger buyer engagement and quicker decision cycles at a time when mortgage rates were trending downward—moving from 6.16% to 5.98%. While rates aren’t the only factor influencing market tempo, this alignment likely contributed to the faster absorption we observed in January–February.

March, by contrast, saw average CDOM rise from 74 to 80 days (+7.21%). This coincided with a noticeable rate reversal, with mortgage rates climbing up 6.38% by month‑end. That shift likely introduced a bit of buyer hesitation and modestly slowed absorption. The increase wasn’t large enough to erase the momentum established earlier in the quarter, but it did slow the segment down.

Taken together, Q1 2026 still moved faster overall. The segment benefited from quicker early‑quarter absorption, and the modest recalibration in March reflects a market responding to short‑term rate movement rather than signaling a broader slowdown.

HOA Dues

While not all attached homes are located in an HOA with mandatory dues, they are a defining feature of the attached homes residential market:

CategoryQ1 2025Q1 2026Change
# of HOA Sales260279+19 homes
Total Sales328362+34 homes
% of Market79.27%77.07%-2.77 pts
HOA dues count are sales reporting nonzero HOA dues.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

The Q1 data shows just how central HOA‑based living is to the attached‑home segment. Out of 362 sales in Q1 2026, 279 reported nonzero HOA dues, meaning more than three‑quarters of all attached‑home closings occurred within dues‑bearing communities.

The increase in HOA‑dues sales—from 260 to 279—reinforces the stability of this pattern. Attached homes continue to be built, marketed, and purchased within communities where shared maintenance, common‑area amenities, and community standards shape both monthly payment profiles and long‑term ownership costs. HOA dues remain a defining financial component of the segment, influencing affordability calculations and distinguishing attached homes from their detached counterparts, which have much lower dues—averaging about $70 per month in the Big Three counties—and only 26% of sales occurring within HOAs.

In short, the attached‑home market continues to operate as a dues‑anchored ecosystem—HOA communities aren’t the exception; they’re the norm.

The bar chart below compares average monthly HOA dues (for reporting sales) for Q1 2025 and Q1 2026 broken out by county:

The county‑level comparison of average monthly HOA dues shows a mix of modest declines, one notable increase, and two counties that are omitted from the bar chart due to little or no attached‑home HOA activity in the period. Columbia had only a single dues‑bearing sale in Q1 2025 and none in Q1 2026, while Hood River’s dues figures are based on extremely limited sales and therefore aren’t included in the visual.

Clackamas, Multnomah, and Yamhill all posted year‑over‑year declines, while Washington County saw an increase from $238.66 to $259.44 (+8.71%). These shifts are meaningful, but interpretation requires attention to reporting behavior—especially in counties with active new‑construction pipelines.

Multnomah’s decline from $246.69 to $210.49 (–14.68%) should be read cautiously. The county saw a strong boost in new‑construction sales in Q1 2026, and it’s common for new‑construction listings to report zero HOA dues in MLS when dues haven’t been finalized at the time of listing. This can temporarily depress the average even when underlying dues are stable. Washington County, by contrast, had steady new‑construction activity year‑over‑year, making its increase more reliable and less affected by non‑reporting.

Yamhill’s decline is modest and should also be interpreted cautiously due to a small number of sales. Clackamas remains stable, with only a slight decrease.

Taken together, the county‑level data reinforces a familiar pattern: HOA dues vary across the region, but accurate interpretation requires accounting for reporting dynamics—especially in markets with active new construction.

Miscellaneous Statistics & Standout Transactions

Here are some of the most notable outliers and extremes from the 2026 Portland Region attached homes residential market—numbers that illustrate the full range of the data and the extremes buyers and appraisers encounter.

Lowest Sales Price: $249,000—This home is located in Wilkes Portland neighborhood. The unit is 1,114 sq. ft. and has two bedrooms and two bathrooms. Photos of this property are currently available online.

Highest Sales Price: $1,175,000—This home is located in Hood River, Oregon. The unit is 1,819 sq. ft. and has three bedrooms and three bathrooms. This property also has the highest price per square foot for the quarter ($645.95). Photos of this property are currently available online.

Lowest Price Per Square Foot: $158.13—This home is located in Lake Oswego, Oregon. The unit is 1,992 sq. ft., has three bedrooms and 2.1 bathrooms; it closed for $315,000. Photos of this property are currently available online.

Longest CDOM: 501 days—This home is located in the Northwest Heights Portland neighborhood. The unit is 1,431 sq. ft. and has two bedrooms and two bathrooms. Initially listed September 2024 for $450,000, it finally closed for $350,000 in late-February 2026. Photos of this property are currently available online.

Smallest Attached Home: 794 sq. ft.—This attached home is located in Newberg, Oregon. The one-bedroom, one-bathroom home is located in the 55+ community of Crestview Manor. Photos of this property are currently available online.

Largest Attached Home: 3,284 sq. ft.—The largest townhome of the quarter is located in West Linn, Oregon. The home has four bedrooms and 3.1 bathrooms. The unit closed for $897,500. Photos of this property are currently available online.

Highest Monthly HOA Dues: $793.00—This home is located in Lake Oswego, Oregon. The unit closed for $455,000 and is 1,314 sq. ft and has two bedrooms and two bathrooms. The HOA dues include a community pool, recreation facility as well as coverage of water, sewer, and exterior maintenance. Photos of this property are currently available online.

With the regional aggregate trends, graphs, monthly patterns, and notable outliers covered, the remainder of this update turns to a county-level breakdown. The following sections present year-over-year comparisons for each of the six counties in the Portland Region—Multnomah, Washington, Clackamas, Yamhill, Columbia, and Hood River. Each county snapshot includes key metrics, commentary on local drivers, and any segment-specific observations that help explain broader regional patterns.

Multnomah County Q1 2026 Stats

The table below summarizes key metrics for Multnomah County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$28,855,250$40,935,465+41.86%
Average Price$450,863$430,900-4.43%
Median Price$410,000$395,000-3.66%
Avg SP/OLP96.50%97.17%+0.70%
Avg PPSF (TSF)$319.62$294.07-8.00%
Avg HOA Dues$246.69$210.49-14.68%
Median HOA Dues$187.00$178.00-4.81%
Avg Lot Size (ac)0.05660.0602+6.41%
Avg Age (Yrs)14.5013.84-4.54%
Avg CDOM92.8373.34-21.00%
Avg Total SF1,4671,513+3.12%
Total # of Sales6495+48.44%
# of New Constr.2440+66.67%
# of REOs02
# of Short Sales00
Average PABAI93.48112.87+19.39 pts
# Affordable2971+42 homes
% Affordable45.31%74.74%+29.42 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (31 sales for Q1 2025 & 41 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Multnomah County delivered a high‑volume quarter shaped overwhelmingly by new‑construction activity. Total dollar volume rose 41.86%, nearly proportional to the 48.44% increase in closed sales, confirming that the quarter’s strength came from more units selling, not higher prices.

Prices moved lower year‑over‑year despite slightly larger homes on slightly larger lots. Average price fell 4.43%, median price declined 3.66%, and average PPSF dropped 8.00%. This pattern reflects a clear compositional shift: new‑construction units averaged 1,350 square feet, compared with 1,631 square feet for resale units. Smaller homes enter the market at lower total prices even when their PPSF is strong, and Multnomah’s 40 new‑construction closings (up from 24) pulled the county’s pricing metrics downward.

Market tempo improved sharply. Average cumulative days on market fell from 92.83 to 73.34—a nearly 20‑day reduction. Builders tend to price new units to move, and the county’s elevated new‑construction share helped accelerate absorption. Sellers also gained a bit of ground relative to their initial list prices, with SP/OLP rising to 97.17%, indicating realistic initial pricing and responsive buyer demand.

HOA dues declined on both an average and median basis, but this drop is almost certainly illusory. New‑construction listings frequently report zero dues when HOA budgets are not finalized at the time of listing, and Multnomah’s surge in brand‑new inventory makes this reporting dynamic the most likely explanation for the decline.

Affordability expanded dramatically. The county’s PABAI rose to 112.87, and 74.74% of all sales qualified as affordable—nearly three‑quarters of the market. This reflects both the influence of smaller, lower‑priced new‑construction units and the rate environment that supported stronger buyer access during the quarter. Builders are striving to meet the market where effective demand exists, and the Q1 delivery mix shows they were targeting price points buyers could actually reach.

Overall, Multnomah County’s Q1 2026 performance was defined by a large influx of smaller new‑construction homes, reshaping pricing, dues, affordability, and market tempo. The result was a fast‑moving, highly accessible quarter with strong buyer engagement and realistic seller pricing.

The following is a scatter plot of all Multnomah County attached homes sales in Q1 2026:

The scatter plot for Q1 2026 shows a market that is tightly concentrated in a very narrow price band. 76.84% of all Multnomah attached‑home sales closed between $300,000 and $500,000, which is an unusually compressed range compared with the detached‑home market. There is very little activity below $300,000 and only a small number of sales above $600,000, reinforcing just how centered this segment is around the mid‑market tiers.

The distribution is especially dense in the $350,000–$399,000 and $400,000–$449,000 brackets, which together account for more than half of all sales. The scatter reflects this visually: most points cluster in a tight vertical band, with only a few outliers pushing toward the upper end of the market.

The plot also shows a noticeable flurry of closings in the final stretch of March. At first glance, this might look like a demand‑side surge, but rates were climbing during that period—not the kind of environment that typically produces a sudden buyer rush. The timing instead reflects new‑construction deliveries closing out at quarter‑end, which becomes clear when isolating just the new‑construction sales.

When viewed alongside the main scatter, the new‑construction plot makes the pattern unmistakable: the late‑March cluster is a supply‑timed closing wave, not a rate‑driven spike in demand. Builders brought units online and pushed to finish the quarter strong, and those closings landed in a tight sequence at the end of March.

Together, the two scatters confirm a mid‑tier‑dominated market with minimal lower‑end activity, a thin upper tail, and a late‑quarter wave of new‑construction closings that helped lift overall volume.

The following map shows the distribution of new construction sales during Q1 2026:

The map of new‑construction sales shows a clear eastside concentration, and that pattern reflects the underlying development realities of Multnomah County. The eastside offers more flexible land availability, more accommodating zoning, and gentler topography, all of which support attached‑home projects at mid‑market price points. Builders can deliver units efficiently and at scale, and the result is the tight $300,000–$450,000 band seen in the new‑construction scatter.

The westside, by contrast, presents a very different development environment. Large portions of the westside are shaped by steep topography, constrained parcels, and higher‑priced neighborhoods where land costs and existing built form make attached‑home development less feasible. The economics simply don’t align with the mid‑tier price points where effective demand is strongest. As a result, new‑construction attached homes are far less common west of the Willamette, and the map reflects that imbalance clearly.

Together, the map and scatter plots show that new construction shaped not only the pricing and timing of Q1 2026, but also its spatial footprint—concentrated east of the river, aligned with the corridors where attached‑home development is most viable.

Washington County Q1 2026 Stats

The table below summarizes key metrics for Washington County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$86,314,512$80,863,943-6.31%
Average Price$459,120$434,752-5.31%
Median Price$444,177$425,000-4.32%
Avg SP/OLP97.55%95.70%-1.89%
Avg PPSF (TSF)$289.69$277.49-4.21%
Avg HOA Dues$238.66$259.44+8.71%
Median HOA Dues$232.00$248.00+6.90%
Avg Lot Size (ac)0.05880.0623+6.03%
Avg Age (Yrs)13.8413.98+1.04%
Avg CDOM76.1386.90+14.15%
Avg Total SF1,6091,588-1.35%
Total # of Sales188186-1.06%
# of New Constr.9190-1.10%
# of REOs00
# of Short Sales00
Average PABAI88.23102.54+14.32 pts
# Affordable25105+80 homes
% Affordable13.30%56.45%+43.15 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (171 sales for Q1 2025 & 176 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Washington County’s attached‑home market softened in Q1 2026, and the declines are genuine. With total sales down by only two homes and new‑construction volume essentially unchanged (91 → 90), the year‑over‑year comparison reflects real demand‑side cooling rather than a shift in unit mix. Average price, median price, SP/OLP, and PPSF all moved lower, while CDOM rose by about ten days—a pattern consistent with buyers becoming more cautious. The ongoing fallout from the Intel layoffs likely contributed to this softer environment, especially in the resale segment.

Despite only two fewer sales, sellers took in $5.45 million less this quarter compared to last year. That’s a meaningful drop in total dollar volume, and it underscores how broad the softening was: lower prices, lower PPSF, and slightly weaker negotiation outcomes all combined to pull revenue down.

Affordability, however, surged. More than half the market (56.45%) qualified as affordable under the PABAI framework, up from just 13.30% a year earlier. PABAI jumped by 14.32 points, reflecting how rate movements and softer pricing intersected to dramatically expand buyer qualification. And because new‑construction volume was nearly identical year over year, the usual issue of under‑reported HOA dues is effectively a wash—meaning the affordability trend is directionally reliable for Washington County, even though new‑construction dues remain understated in RMLS.

A side‑by‑side look at new construction versus resale in Q1 2026 shows a market that is almost perfectly split by both dollar volume and number of sales. New homes delivered slightly more square footage and larger lots, but the median price difference between new ($449,945) and resale ($410,500) was only about $40,000, indicating that Washington County does not impose a large premium for new attached homes.

Overall, Washington County’s attached‑home segment in Q1 2026 reflects a stable mix, softer demand, expanded affordability, and a nearly even split between new and resale activity. The declines are real, the affordability gains are meaningful, and the market’s performance is best understood as a demand‑side cooling rather than a structural or compositional shift.

The following is a scatter plot of all Washington County sales in Q1 2026:

The scatter plot shows a market operating within an exceptionally tight price band. Nearly the entire quarter’s activity falls between $300,000 and $500,000, and more than half the market (54.84%) is concentrated in the $350,000–$449,999 range. This mid‑tier clustering is the defining feature of Washington County’s attached‑home segment in Q1 2026, and the scatter makes it visually unmistakable: a dense horizontal band with very few outliers above $550,000 and almost nothing below $300,000.

There is a modest uptick in closings during March, reflecting two overlapping dynamics. First, Washington County saw a slight increase in new‑construction closings toward the end of the quarter, which naturally produces a small late‑March cluster. Second, the attached‑home market typically warms as spring approaches, and the scatter shows that familiar seasonal lift. Even so, the March activity remains firmly within the same mid‑tier band, reinforcing how stable and price‑disciplined the segment was throughout Q1.

Overall, the scatter confirms a highly concentrated mid‑market, minimal lower‑end activity, and only a thin upper tail. Washington County’s attached‑home market in Q1 2026 operated within one of the narrowest price distributions in the region, and the scatter plot visually mirrors the softness and affordability expansion seen in the county‑level metrics.

The following map shows the distribution of new construction sales during Q1 2026:

The new‑construction map for Washington County shows a development pattern that’s almost textbook for the westside: clusters of new attached‑home activity sitting right at the edges of cities, aligned with the urban growth boundary (UGB). The visual cue is unmistakable—the red markers concentrate precisely where the map transitions from urban coloration into green, signaling rural reserve, agricultural land, or forested areas. That boundary line is where Washington County’s attached‑home development has historically been most viable, and Q1 2026 continues that pattern.

Most of the new‑construction activity appears around Hillsboro, Aloha, Cornelius, and Forest Grove, with additional pockets near Bethany and South Beaverton. These are areas where land is still assemblable, topography is gentle, and zoning supports higher‑density formats. Builders gravitate to these UGB‑adjacent zones because they offer the combination of flat terrain, infrastructure access, and development‑friendly entitlements needed to deliver attached homes at mid‑tier price points.

What’s equally notable is where new construction isn’t happening. The interior of established neighborhoods—Cedar Hills, Sexton Mountain, Bull Mountain, central Beaverton—shows very few markers. These areas have higher land costs, fragmented parcels, and steeper topography in places, all of which make attached‑home development more difficult. The map’s pattern reflects that reality: new construction hugs the green edges rather than filling in the urban core.

Clackamas County Q1 2026 Stats

The table below summarizes key metrics for Clackamas County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$32,731,115$33,201,588+1.44%
Average Price$536,576$495,546-7.65%
Median Price$467,500$440,000-5.88%
Avg SP/OLP97.43%96.35%-1.11%
Avg PPSF (TSF)$299.00$294.75-1.42%
Avg HOA Dues$286.20$286.19-0.00%
Median HOA Dues$225.50$243.00+7.76%
Avg Lot Size (ac)0.070.08+6.16%
Avg Age (Yrs)14.5617.91+23.03%
Avg CDOM106.9576.82-28.17%
Avg Total SF1,7621,692-3.98%
Total # of Sales6167+9.84%
# of New Constr.1618+12.50%
# of REOs00
# of Short Sales00
Average PABAI80.4292.29+11.88 pts
# Affordable633+27 homes
% Affordable9.84%49.25%+39.42 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (50 sales for Q1 2025 & 56 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Clackamas County posted a mixed performance in Q1 2026, with rising sales activity but clear price erosion. Total sales increased nearly 10% year over year (61 → 67), yet total dollar volume rose only 1.44%, meaning sellers collectively earned just $470,473 more than last year. That gap between unit growth and revenue growth is the clearest sign of softening prices: average price fell 7.65%, median price declined 5.88%, and PPSF slipped modestly. Some of this decline reflects a shift toward smaller units—average total square footage dropped by nearly 4%—but the price reductions exceed what size alone would explain, indicating genuine market cooling.

Affordability expanded sharply, rising from 9.84% to 49.25%, yet Clackamas still remains the least affordable of the three major counties. Larger average square footage, higher HOA dues, and an older attached‑home stock all contribute to this structural reality. The average age of sold units jumped from 14.6 to 17.9 years, reinforcing that Clackamas has fewer new attached‑home projects and a more mature inventory profile compared with Multnomah and Washington counties.

One of the more notable improvements was in market efficiency: CDOM fell dramatically, dropping from 107 days to 77 days. Even with lower prices, homes sold significantly faster, suggesting sellers adjusted expectations and buyers responded to more realistic pricing. This is consistent with a market that is softening but still liquid.

A closer look at new construction versus resale in Q1 2026 shows that builders and resale sellers operated in distinctly different segments. New construction accounted for 18 sales, while resale represented 49, and the two cohorts diverged sharply in size. New homes averaged 1,572 sq. ft., compared with 1,736 sq. ft. for resale—a 164 sq. ft. difference that explains most of the pricing gap. Builders are clearly delivering smaller new units to keep average prices down—1,920 sq. ft. in Q1 2025 to 1,572 sq. ft. in Q1 2026—and when adjusting for square footage, the new‑construction premium essentially disappears. PPSF is nearly identical between the two groups, and a back‑of‑the‑envelope calculation shows that equal‑sized units would have nearly the same implied value.

Overall, Clackamas County’s attached‑home market in Q1 2026 reflects higher sales activity, lower prices, faster absorption, and a meaningful shift toward smaller new‑construction units. The county remains the least affordable of the Big Three, but the quarter shows a market adjusting efficiently to softer demand and delivering product that aligns with buyer qualification thresholds.

The following is a scatter plot of all Clackamas County sales in Q1 2026:

The scatter plot for Clackamas County shows a price distribution that is both tightly concentrated in the mid‑market and meaningfully stretched into the upper tiers, a pattern that distinguishes the county from both Multnomah and Washington. The densest portion of the quarter’s activity sits between $400,000 and $449,999, and when combined with the adjacent $450,000–$499,999 tier, these two ranges account for nearly three‑quarters of all sales. This narrow mid‑market band is the defining feature of Clackamas attached‑home pricing in Q1 2026.

What’s equally notable is what the scatter doesn’t show: almost no activity below $350,000. Only one sale fell into the 300–349K range, and nothing transacted below that. This absence of lower‑priced units is a structural characteristic of Clackamas County’s attached‑home stock—larger average square footage, higher HOA dues, and older inventory all push the market upward compared with the other major counties. The scatter makes this visually obvious: the lower end is essentially missing.

Above the mid‑market band, Clackamas shows a meaningful upper tail. Several sales closed between $600,000 and $1,000,000, including one above $950,000. This upper‑tier activity is far more pronounced than in Washington County, where attached‑home pricing is tightly uniform and rarely reaches these levels. In contrast, Clackamas supports a wider range of attached‑home formats and sizes, and the scatter reflects that diversity with a broader vertical spread.

Taken together, the scatter plot illustrates why Clackamas remains the least affordable of the Big Three counties. While all three counties struggle to produce units under $300,000, Multnomah’s densest band sits lower (350–399K), and Washington has substantial activity in the 300–399K range. Clackamas, by contrast, clusters higher and shows more upper‑tier sales, reinforcing the county’s structurally elevated pricing profile.

The following map shows the distribution of new construction sales during Q1 2026:

The new‑construction map for Clackamas County shows a pattern that’s immediately recognizable once you’ve looked at Multnomah and Washington: activity generally clusters right at or just inside the edges of major cities, where zoning, infrastructure, and parcel configuration make attached‑home development feasible. Every red marker sits in or near an incorporated area—Happy Valley, Milwaukie, Oregon City—and even the outlier in Molalla is still within the city’s built‑up footprint rather than in rural reserve or agricultural land. This is the same development logic we saw in Washington County, but expressed through Clackamas’ geography.

Yamhill County Q1 2026 Stats

The table below summarizes key metrics for Yamhill County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$1,996,000$4,026,200+101.71%
Average Price$399,200$366,018-8.31%
Median Price$400,000$377,900-5.53%
Avg SP/OLP100.22%97.45%-2.77%
Avg PPSF (TSF)$323.68$311.36-3.81%
Avg HOA Dues$97.17$87.92-9.52%
Median HOA Dues$65.00$45.00-30.77%
Avg Lot Size (ac)0.090.09-1.65%
Avg Age (Yrs)25.6024.91-2.70%
Avg CDOM23.2076.91+231.50%
Avg Total SF1,2621,201-4.81%
Total # of Sales511+120.00%
# of New Constr.02
# of REOs00
# of Short Sales00
# Affordable311+8 homes
% Affordable60.00%100.00%+40.00 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (4 sales for Q1 2025 & 5 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Yamhill County saw a sharp increase in attached‑home activity in Q1 2026, though the small sample size limits interpretation. Total sales rose from 5 to 11, a 120% increase, and total dollar volume more than doubled, netting sellers an additional $2.03M. With only a handful of transactions in each quarter, this jump reflects the addition of a few more closings rather than a structural shift in the market.

Two new‑construction units closed during the quarter, both from the same small infill project in Lafayette. This was the only new‑construction activity in the county for Q1 2026.

Overall, Yamhill County’s attached‑home market remains extremely low‑volume, and the quarter’s results reflect the sensitivity of small datasets to individual sales. The doubling of dollar volume and sales count is notable, but not indicative of a broader trend. The presence of two new units in Lafayette is the only structural change worth noting; otherwise, the quarter’s metrics should be interpreted cautiously due to limited activity.

The following is a scatter plot of all Yamhill County sales in Q1 2026:

Most activity is concentrated between $350,000 to under $450,000.

Columbia County Q1 2026 Stats

The table below summarizes key metrics for Columbia County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$2,811,205$769,000-72.65%
Average Price$401,601$384,500-4.26%
Median Price$405,000$384,500-5.06%
Avg SP/OLP95.55%98.81%+3.41%
Avg PPSF (TSF)$248.84$246.68-0.87%
Avg HOA Dues$21.25
Median HOA Dues$21.25
Avg Lot Size (ac)0.080.08+6.25%
Avg Age (Yrs)19.8627.00+35.97%
Avg CDOM45.8613.00-71.65%
Avg Total SF1,6331,560-4.45%
Total # of Sales72-71.43%
# of New Constr.00
# of REOs00
# of Short Sales00
# Affordable42– 2 homes
% Affordable57.14%100.00%+42.86 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (2 sales for Q1 2025 & 0 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Columbia County had very limited attached‑home activity in Q1 2026, with only two sales recorded for the quarter. This represents a decline of five sales year‑over‑year, and total dollar volume fell accordingly—from $2.81M to $769,000, a reduction of $2.04M. With such a small dataset, these changes reflect the absence of a few transactions rather than any meaningful shift in market conditions. There were no new‑construction units this quarter.

Overall, Columbia County’s attached‑home market remains extremely low‑volume, and the quarter’s results should be interpreted cautiously. The decline in sales and dollar volume is notable, but not indicative of a structural change; it simply reflects the sensitivity of small datasets to individual transactions.

Hood River County Q1 2026 Stats

The table below summarizes key metrics for Hood River County attached homes residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$1,485,000$1,175,000-20.88%
Average Price$495,000$1,175,000+137.37%
Median Price$460,000$1,175,000+155.43%
Avg SP/OLP95.85%106.82%+11.44%
Avg PPSF (TSF)$356.60$645.95+81.14%
Avg HOA Dues$36.46$401.91+1002.48%
Median HOA Dues$36.46$401.91+1002.48%
Avg Lot Size (ac)0.05330.0300-43.78%
Avg Age (Yrs)12.6721.00+65.79%
Avg CDOM114.0025.00-78.07%
Avg Total SF1,5011,819+21.16%
Total # of Sales31-66.67%
# of New Constr.00
# of REOs00
# of Short Sales00
# Affordable000 homes
% Affordable0.00%0.00%0 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (2 sales for Q1 2025 & 1 sale for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Attached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Hood River County had only one attached‑home sale in Q1 2026, down from three the year before. With such a small dataset, year‑over‑year comparisons are not meaningful. Total dollar volume declined from $1.49M to $1.18M, a net difference of $310,000. There were no new‑construction units this quarter.

Overall, Hood River County’s attached‑home market remains extremely low‑volume, and the quarter’s results should be interpreted cautiously. The decline in sales and dollar volume is notable, but not indicative of a structural change; it simply reflects the sensitivity of small datasets to individual transactions.

Closing Thoughts

Q1 2026 showed a region adjusting through lower prices, slightly improved interest rates, and builder‑driven shifts in product size, all of which combined to make attached homes more accessible to buyers. With softer pricing, overall activity increased: regional sales rose 10%, and total dollar volume edged up 4.4%, signaling steady demand as buyers responded to more attainable price points.

Affordability was the standout change. The share of affordable attached‑home sales jumped from 20% to 61%, adding 155 more affordable units compared with last year. This improvement was driven primarily by lower prices, better mortgage rates, and a clear builder pivot toward smaller units in counties like Washington and Clackamas. New construction rose 14.5%, and much of that growth came from projects intentionally designed to meet buyer qualification thresholds.

The county distribution remained familiar: Washington County accounted for just over half of all attached‑home sales, Multnomah contributed about a quarter, and Clackamas nearly a fifth. The remaining counties—Yamhill, Columbia, and Hood River—continued to show extremely low volumes, where individual sales can shift averages dramatically and trend analysis is not meaningful.

Taken together, the quarter reflects a market that is re‑calibrating rather than contracting. Prices softened, affordability expanded, and builders adapted quickly to buyer needs.

What trends do you expect to see in Q2 2026? I’d love to hear your thoughts—feel free to reply here or reach out directly.

Sources & Further Reading

All data presented in this quarterly update is sourced directly from RMLS and has been subjected to a rigorous cleaning and validation process to ensure reliability for attached homes residential analysis in the six-county Portland Region. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Coda

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The Portland Region Q1 2026 Condominium Housing Market Update

Q1 2026 Portland Region condo update: average price $389k (+6.5%), median $325k (‑1.5%), sales 511 (‑8.6%), CDOM 119 days (+8%). Dollar volume dipped 2.6% as new construction fell sharply, yet still reached $199M. County trends diverged, and Ritz‑Carlton closings—after a year of no activity—kept the market from sliding further.

The City of Portland skyline with Mt. Hood in the distance.
Via Canva Pro

The condo market entered 2026 on softer footing, with sales and dollar volume both slipping from last year’s pace. Activity was steady enough to keep the segment functional, but not strong enough to overcome the broader contraction. What complicated the picture was the renewed momentum at the Ritz‑Carlton Residences, which re‑emerged this quarter as a major force in the luxury segment. That revival reshaped the composition of what sold and kept the quarter from appearing weaker on the surface than the fundamentals alone would suggest.

The Ritz accounted for 60% of all $1M‑and‑up closings, and that concentration was enough to push average prices higher even as the rest of the market softened. Median prices, price‑per‑square‑foot, and total dollar volume all declined, reflecting a quieter underlying market. But the surge in luxury‑tower activity created a split narrative: the averages moved one way, the fundamentals another. It was a quarter defined less by broad price movement and more by what sold and where those sales occurred.

Affordability technically improved this quarter, and condos remain the most accessible segment for a median‑income household. But that improvement came from lower mortgage rates, not from dramatic changes within the condo market itself. Rising HOA dues continue to be a structural drag, and the segment’s geographic concentration limits its appeal. Many buyers still prefer detached homes with yards, and many prefer suburban or rural settings where condos are scarce or nonexistent. In that sense, condos remain affordable but not a panacea—an option that works well for some buyers, but not a broad solution to the region’s housing pressures.

Table of Contents

Data Housekeeping

The Portland Region in this update comprises the six Oregon counties of Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill. These counties form a contiguous housing ecosystem centered on Portland—Multnomah as the core home county, with the others tightly integrated through commuting patterns, economic ties, and shared market dynamics (e.g., Yamhill’s strong connection via Highway 99W and wine-country adjacency). Beyond Yamhill, the MLS system changes, further distinguishing this six-county area from broader geographic aggregations. For a detailed overview—including county profiles, population data, key value influencers, and why this definition differs from the official seven-county Portland–Vancouver–Hillsboro MSA—see the dedicated page: The Portland Region – Six-County Market Area Overview.

Colored map of the six counties comprising the Portland Region: Clackamas, Columbia, Hood River, Multnomah, Washington, and Yamhill.
The six-county Portland Region
Via SunCatcherStudio

All data is sourced from RMLS and reflects open-market condominium residential sales. SNL (“Sold Not Listed”) entries—off-market transactions entered retroactively—have been excluded to preserve consistency with true market activity.

Since condominium is an ownership type and not necessarily a description of style, a strict examination was made of all other major single-family housing types in RMLS (detached homes, attached homes, and manufactured homes on owned land) and any condominium sales found in those segments were aggregated into this review. All figures underwent standard cleaning to address common RMLS accuracy challenges, including square footage/price typos, incomplete fields, status/date mismatches, and non-representative entries. For a detailed overview of these issues, their impact on market analysis, and mitigation through automated flagging, cross-verification, and manual review, see the dedicated page:  RMLS Data Accuracy Challenges.

Portland Appraisal Blog Affordability Index (PABAI)

What PABAI Measures

The Portland Appraisal Blog Affordability Index (PABAI) measures how home close prices compare to what a median‑income household can qualify for under standard lending assumptions (HUD Portland‑Vancouver‑Hillsboro MSA median income, 20% down, and a 28% DTI for principal, interest, taxes, insurance, and HOA dues).

Unlike national affordability indices, PABAI is built from actual RMLS transactions rather than a single hypothetical price point. It computes an affordability ratio for every closed sale in the Portland Region during Q1 2026 and then averages those results—that average is the reported PABAI. Each housing segment—detached, attached, condos, and manufactured—is calculated separately, ensuring that segment‑specific dynamics are preserved rather than blended together. This approach produces far more precise, locally grounded insights into Portland‑area affordability and avoids the distortions that occur when fundamentally different housing types are combined into a single regional metric.

A PABAI of 100 means the market is exactly affordable at that income level (the Q1 2026 HUD median MSA income was $124,100 for a family of four). Values above 100 indicate excess qualifying capacity (more affordable), while values below 100 indicate a shortfall (strained affordability). Full methodology and the interpretation scale are available on the PABAI explainer page.

PABAI RangeInterpretation
120+Strongly Affordable
100–119Moderately Affordable
80–99Strained
Below 80Severely Constrained

Residential Housing Snapshot

CategoryDetachedAttachedCondoManuf.
Total $ Volume$2.2B$161.0M$199.0M$32.4M
Avg Price$659,197$444,672$389,438$540,352
Avg PPSF (Total SF)$316.21$286.91$325.55$356.75
Avg Total SF2,1641,5761,1801,571
Avg Lot Size (ac)0.6550.066N/A7.959
Avg Age (Yrs)46.0315.0932.0329.10
Avg CDOM80.2280.59119.62118.25
# of Sales3,34936251160
% of Market78.21%8.45%11.93%1.40%
Highest Sale$5,725,950$1,175,000$2,450,000$2,400,000
Lowest Sale$135,000$249,000$100,000$199,700
Price Spread Ratio42.414.7224.5012.02
PPSF Spread Ratio30.934.0811.9113.29
Total SF Spread Ratio23.464.1412.243.52
Avg PABAI80.47104.13117.08110.94
Q1 2026 (4,282 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

The Portland Region’s residential market remains anchored by detached homes, which continue to define the overall structure of housing activity in Q1 2026. Detached properties account for the vast majority of open‑market sales and dollar volume, and they remain the least affordable segment with a PABAI well below 100. They also sit on the most land, offer the largest average dwelling size, and span the widest range of product types—from sub‑$150,000 fixers to multi‑million‑dollar estates. Their internal diversity and land intensity shape much of the region’s pricing landscape, and they remain the segment most buyers prefer even when affordability pushes them elsewhere.

Attached homes serve as the clearest alternative when detached becomes harder to access. They are the youngest and most uniform segment, with tight spread ratios and predictable pricing that make them the region’s most “commodity‑like” housing type. Their moderate affordability and consistent product profile position them as the safety‑net entry point for buyers priced out of detached homes. Manufactured homes and condos share several surface‑level similarities—age, CDOM, affordability, and even price ceilings—but diverge sharply in how they trade. Manufactured homes trade on land, while condos trade on HOA dues, the hidden variable that shapes their affordability profile and increasingly picks winners and losers within the segment.

Condos remain the most affordable segment in the region, with a PABAI above 117 this quarter, but affordability alone does not translate into broad appeal. Many buyers prefer detached homes with yards, and many prefer suburban or rural settings where condos are scarce or nonexistent. Others deliberately avoid homeowners associations and their attendant dues and rules, regardless of price point. Condos also represent a relatively small share of the region’s housing activity: they make up roughly 12% of all Q1 sales but contribute less than 8% of total dollar volume. Given their lower prices compared to detached homes, this gap is expected and reflects the structural role condos play in the ecosystem—an accessible option for some buyers, but not a proportional driver of regional dollar volume.

Three of the four residential segments cluster in the low–mid $300s PPSF, underscoring that structure cost is relatively consistent across the metro; it is land, size, dues, and buyer preferences that create the separation between segments. Spread ratios help illustrate this internal variation by comparing the highest and lowest values within each segment—higher ratios indicate a wider spectrum of product types and price points, while lower ratios signal a more uniform, commodity‑like segment. Detached homes show the widest internal variation, attached homes the tightest, and condos a bimodal profile shaped by older stock on one end and boutique new construction and luxury towers on the other. This ecosystem context sets the stage for the condo‑specific analysis that follows.

Portland Region Q1 2026 Overview

Overall Regional Trends

The table below summarizes key metrics for condominium residential sales in the Portland Region (Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill counties) for Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$204.3 Million$199.0 Million-2.61%
Average Price$365,524$389,438+6.54%
Median Price$329,900$325,000-1.49%
Avg SP/OLP94.66%92.88%-1.88%
Avg PPSF (TSF)$335.68$325.55-3.02%
Avg HOA Dues$458.84$586.72+27.87%
Median HOA Dues$422.00$482.00+14.22%
Avg Age (Yrs)27.5832.03+16.10%
Avg CDOM110.76119.62+7.99%
Avg Total SF1,1111,180+6.21%
Total # of Sales559511-8.59%
# of New Constr.14497-32.64%
# of REOs813+62.50%
# of Short Sales13+200.00%
Average PABAI108.46117.08+8.62 pts
# Affordable320335+15 units
% Affordable57.25%65.56%+8.31 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (547 sales for Q1 2025 & 491 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

Key Observations From the Aggregate Data

The overall condo market contracted in Q1 2026, with total sales down 8.6% and total dollar volume slipping 2.6% from last year. Median price and PPSF both declined, reflecting softer underlying conditions, and marketing times lengthened as buyers remained deliberate. Yet average price rose 6.5%—a paradox explained not by broad appreciation, but by what sold. The revival of the Ritz‑Carlton Residences reshaped the quarter’s composition, lifting the averages even as the fundamentals moved in the opposite direction.

The Ritz accounted for 60% of all $1M‑and‑up closings, and that concentration alone was enough to shift the quarter’s pricing profile. But the luxury segment was stronger even beyond the Ritz: the region recorded more $1M+ condo sales this year than last, contributing to the rise in average price and the increase in average unit size. Without this luxury‑tier activity, the quarter would have shown a more pronounced decline in averages. Instead, the data reveal a split narrative—averages up, fundamentals down—driven almost entirely by composition.

HOA dues surged this quarter, with average dues rising nearly 28% and median dues up 14%. Part of this increase reflects the luxury‑tower mix: Ritz units carry some of the highest dues in the region, and their reappearance in the dataset pulled the average upward. But the rise in median dues shows that the trend extends beyond any single building. Insurance costs, reserve requirements, and aging infrastructure continue to push dues higher across the region, reinforcing the role of HOA dues as a structural drag on the segment and a key factor in picking winners and losers among condo complexes.

Affordability improved meaningfully, with PABAI rising from 108.46 to 117.08, making condos the most accessible segment for a median‑income household. This improvement wasn’t just theoretical: the number of condos affordable to a median‑income household rose from 320 to 335, even as total sales declined. Nearly two‑thirds of all condos sold in Q1 2026 were affordable under standard underwriting assumptions. But this improvement was rate‑driven, not price‑driven. Lower mortgage rates expanded buying power, while rising dues offset part of that gain. Condos remain objectively affordable, but affordability alone does not broaden demand—many buyers prefer detached homes, suburban settings, or simply wish to avoid homeowners associations and their attendant dues and rules, regardless of price point.

The market also slowed further, with CDOM rising nearly 8% and the average age of sold units increasing from 27.6 to 32.0 years. New‑construction closings fell by one‑third, consistent with the region’s long‑term decline in condo development outside Portland’s urban core. Distressed sales ticked up slightly but remain extremely low in absolute terms, signaling normalization rather than systemic stress. Taken together, the aggregate data describe a quieter quarter shaped by composition, structural costs, and the ongoing aging of the condo stock, accented by a sharp showing in the ≥ $1M segment.

Portland Region Scatter Plots

To visualize the sales price distribution of individual condominium units across Q1 2026, the following scatter plots show sales price by date of sale:

The distribution is steady and tightly clustered through most of the quarter, with the bulk of condo sales occurring below the $600,000 mark. Day‑to‑day variation is modest, and the scatter maintains a consistent horizontal band that reflects the core price range of the segment. The only notable deviation appears in mid‑to‑late March, where a handful of high‑priced sales rise sharply above the main cluster—these are the Ritz‑Carlton Portland Residences returning to market activity. Their re‑entry creates a visible vertical lift in the plot, but it does not alter the underlying structure of the broader condo market, which remains stable and price‑dense.

Zooming in on sales priced at $800,000 or less we have:

This zoomed‑in view isolates the portion of the condo market where the vast majority of Q1 2026 activity occurred. Once the upper‑end sales, such as those from the Ritz‑Carlton, are removed, the distribution becomes much easier to read: prices are tightly clustered between roughly $250,000 and $600,000, with only a modest tapering above that range. The day‑to‑day variation is small, and the scatter shows a steady, continuous flow of sales rather than any abrupt shifts or gaps.

What stands out most is how uniform the segment behaves. Even as rates fell and dues rose, the underlying price distribution remained stable, with no visible compression or expansion in the mid‑market band.

Core Market (< $1M)

The table below shows core-market metrics for Q1 2026 compared with Q1 2025:

CategoryCore (< $1M) Q1 2025Core (< $1M) Q1 2026% Change
Total $ Volume196.16 Million$164.37 Million-16.21%
Average Price$354,087$338,206-4.48%
Median Price$329,900$318,500-3.46%
Avg SP/OLP94.66%92.75%-2.02%
Avg PPSF (TSF)$332.42$305.36-8.14%
Avg HOA Dues$446.96$501.79+12.27%
Median HOA Dues$419.50$473.50+12.87%
Avg Age (Yrs)27.7333.21+19.75%
Avg CDOM111.03122.67+10.49%
Avg Total SF1,1001,136+3.28%
Total # of Sales554486-12.27%
# of New Constr.14280-43.66%
% of $ Volume96.00%82.60%-13.97%
% of Market99.11%95.11%-4.03%
Note: The calculated average HOA dues for the core market is for sales reporting nonzero HOA dues (542 sales for Q1 2025 & 466 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

The core condo market—nearly the entire dataset in Q1 2025 and still over 95% of sales in Q1 2026—retreated across almost every major indicator this quarter. Prices softened, with the average down 4.48% and the median down 3.46%. Total dollar volume fell sharply (‑16.21%), driven by both lower prices and fewer sales. New construction dropped by nearly half, reducing the supply of newer, more efficient units and contributing to a noticeable increase in average age, which rose from 27.7 to 33.2 years.

Market tempo also slowed. Average cumulative days on market increased from 111 to 123 days, consistent with a segment where buyers remain selective and inventory is aging. PPSF declined more than headline prices (‑8.14%), reflecting a mix shift toward older, larger, and more moderately priced units.

The dues environment continues to exert pressure. Average HOA dues climbed to just over $500 per month, with median dues rising similarly. These carrying‑cost increases offset part of the buying‑power gains from lower mortgage rates and remain a structural headwind for demand.

Luxury Market (≥ $1M)

The table below shows luxury-market metrics for Q1 2026 compared with Q1 2025:

CategoryLuxury (≥ $1M) Q1 2025Luxury (≥ $1M) Q1 2026% Change
Total $ Volume$8.16 Million$34.64 Million+324.24%
Average Price$1,632,800$1,385,400-15.15%
Median Price$1,195,000$1,280,000+7.11%
Avg SP/OLP94.65%95.46%+0.85%
Avg PPSF (TSF)$696.55$718.21+3.11%
Avg HOA Dues$1,746.60$2,169.88+24.23%
Median HOA Dues$1,444.00$2,220.00+53.74%
Avg Age (Yrs)11.609.08-21.72%
Avg CDOM81.0060.16-25.73%
Avg Total SF2,2912,027-11.52%
Total # of Sales525+400.00%
# of New Constr.217+750.00%
% of $ Volume4.00%17.40%+335.59%
% of Market0.89%4.89%+446.97%
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

The luxury condo segment was meaningfully present again in Q1 2026, with 25 sales at or above $1 million. Even excluding the Ritz‑Carlton Portland Residences, the luxury tier still produced twice as many sales as last year, confirming that high‑end condo activity broadened beyond a single building. Total dollar volume reached $34.64 million, and this surge in luxury transactions helped stabilize the quarter overall—core market volume contracted sharply, but the revival of luxury prevented a deeper slide in regional totals.

Luxury pricing this quarter was consistent, with most units trading between roughly $1.2 million and $1.4 million. HOA dues remain a defining feature of the segment: median dues exceeded $2,200 per month, a level that rivals a mortgage payment and underscores the carrying‑cost profile of high‑end condominium ownership. New construction dominated the luxury pool, pulling the average age of units down and contributing to faster absorption, with average cumulative days on market falling to 60 days.

The following scatter plot shows individual sales of $1 million or more across Q1 2026:

Note: The y-axis starts at $800,000 to allow better examination of the dataset. Dots are sized by total square footage.

The scatter plot highlights how sharply the luxury segment shifted once the Ritz‑Carlton Portland Residences resumed closings in March 2026. The red-orange dots with yellow highlight mark those Ritz units, and once they appear, the rest of the luxury market essentially goes quiet—only one non‑Ritz luxury sale closed after the Ritz came online. This pattern reinforces how thin and episodic the ≥ $1M tier is: a single building can dominate the entire segment for weeks at a time.

The remaining non‑Ritz sales form a small band between roughly $1M and $1.4M earlier in the quarter, showing that luxury was active but modest before the Ritz re‑entry. Once the Ritz closings began, the scatter becomes almost entirely Ritz‑driven, visually confirming what the table already suggests—the luxury segment’s revival in Q1 2026 was concentrated, building‑specific, and heavily influenced by the timing of one development.

The following map shows where the luxury sales occurred:

And the following table lists the complexes where the sales occurred:

Condo ComplexCityNeighborhood# of Sales ≥ $1M Q1 2026
SkyviewLake OswegoFirst Addition1
RenaissanceLake OswegoFirst Addition1
FrancesLake OswegoFirst Addition1
Elizabeth LoftsPortlandPearl District1
Nine Three SevenPortlandPearl District1
Edge LoftsPortlandPearl District1
MetropolitanPortlandPearl District1
Ritz-CarltonPortlandDowntown15
Eliot TowerPortlandDowntown1
Koin TowerPortlandDowntown1
RiverpointPortlandSouth Portland1
Total25
Condominium Residential | Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

The building‑level breakdown makes clear how concentrated the luxury segment was in Q1 2026. The Ritz‑Carlton Portland Residences accounted for the majority of ≥ $1M sales, with 15 of the 25 transactions this quarter. Outside of the Ritz, luxury activity was modest but meaningfully present across a handful of established buildings in Lake Oswego, the Pearl District, and Portland Downtown. Each of those developments contributed one luxury sale, underscoring how thin and selective the high‑end condo market remains.

This distribution also highlights the geographic reality of luxury condominium living in the Portland Region: it is almost entirely confined to Lake Oswego, the Pearl District, and Portland Downtown. No other neighborhoods or suburban markets produced a ≥ $1M condo sale this quarter. The table reinforces the same pattern seen in the scatter plot—once the Ritz resumed closings, it dominated the segment.

Bottom-line Summary

Condo activity in the Portland Region softened overall in Q1 2026, with the core market contracting across prices, volume, and sales counts. Core units took longer to sell, PPSF declined, and HOA dues continued their steady climb toward the $500/month mark. These shifts reflect a segment that remains affordable but is moving more slowly, with buyers staying selective and inventory aging.

The luxury tier revived sharply, driven by the return of closings at the Ritz‑Carlton Portland Residences. Even excluding the Ritz, luxury produced twice as many ≥ $1M sales as last year, and the segment’s contribution kept regional dollar volume from sliding further.

Overall, Q1 2026 was a mixed quarter: a cooling core market offset by a concentrated burst of luxury activity, producing a regional picture defined by slower absorption, rising dues, and a luxury segment that re‑entered the market with outsized influence.

Sales Volume

A treemap visualizing the distribution of condominium sales by county in Q1 2026 clearly illustrates the market’s geographic concentration.

The treemap makes the structure of Q1 2026 condo activity immediately clear: this is a Multnomah‑driven market. With 346 sales, Multnomah accounts for over two‑thirds of all regional condo transactions, and its block in the treemap visually dominates everything else. Washington County forms the second anchor at 110 sales (about 22% of the market), creating a clear two‑county core that carries nearly 90% of all condo activity.

Clackamas shows a modest presence at 54 sales, but the remaining counties barely register. Yamhill contributes one sale, and both Columbia and Hood River record zero condo transactions this quarter. The treemap’s proportions reinforce how geographically concentrated condo demand is: the market is effectively a three‑county story, with Multnomah at the center, Washington providing meaningful support, and Clackamas adding a smaller but steady share.

The bar chart below compares monthly sales volume across the three months of Q1 for 2025 and Q1 2026.

The bar chart comparing Q1 2025 and Q1 2026 shows a clear, steady pattern: each month in 2026 trailed its 2025 counterpart, and the gap was consistent enough to pull the quarter down by nearly 9%. January and February posted the largest shortfalls, with January down 20 sales and February down 25, reflecting a softer start to the year. March nearly matched last year—208 vs. 211—but not quite enough to offset the weaker first half of the quarter.

The visual reinforces what the treemap and core‑market tables already suggest: the slowdown wasn’t a single‑month anomaly, but a broad, quarter‑long easing of condo activity. Even with the luxury revival in March, overall sales volume remained lower, and the bar chart makes that month‑by‑month pattern easy to see at a glance.

Sales Price

The bar chart below compares monthly average sales prices across the three months of Q1 for 2025 and Q1 2026.

The bar chart shows a very clear pattern in Q1 2026: prices were soft early in the quarter and then surged in March. January and February tracked almost exactly with the broader slowdown in core activity—both months posted average prices slightly below their 2025 levels, with January down about 9% and February essentially flat.

March is where the visual breaks sharply from the first two months. Average price jumped to $441,378, a 22.8% increase over March 2025. That spike aligns directly with the return of closings at the Ritz‑Carlton Portland Residences, which had been absent from the market for over a year. Even a modest number of Ritz units materially lifts the monthly average, and the bar chart makes that influence unmistakable.

Despite softer pricing in January and February, the strength of March pulls the quarterly average up 6.5% year‑over‑year. The visual reinforces the same theme seen throughout the regional overview: core softened, but luxury prevented a deeper slide, and the timing of Ritz closings shaped the quarter’s pricing profile more than any other single factor.

New Construction

The bar graph below shows monthly total condominium sales in Q1 2026, with new construction volume nested within each bar to illustrate the portion of sales that were newly built.

This visual tells a slightly different story once you place it alongside the regional overview tables. New construction was present and steady throughout Q1 2026, and its share of monthly sales rose each month—from 14% in January to 23% in March. Builders clearly remained active, and their contribution was meaningful.

But the bar chart also shows what the overview table already hinted at: new construction wasn’t enough to offset the broader slowdown. Total condo sales fell by 48 units year‑over‑year, and new construction fell by 47 units over the same period. The near‑perfect alignment between those two numbers means the decline in new construction explains almost the entire drop in regional sales volume. Builders helped stabilize the quarter, but their output still landed below last year’s levels.

The visual is best understood as a month‑to‑month strengthening within a year‑over‑year decline. New construction played a stabilizing role, but not a compensating one.

The bar graph below shows the number of new construction closings by county, with side-by-side bars for Q1 2025 and Q1 2026.

The county breakout makes one point unmistakable: condo new construction in the Portland Region is essentially a Multnomah County story. Multnomah delivered 89 new‑construction closings in Q1 2026—down from 141 last year—and because it produces over 90% of all new‑construction condo activity, any slowdown there immediately becomes a regional slowdown. The bar chart shows this visually: Multnomah’s bar contracts sharply, and every other county is so small that they function as rounding errors.

Clackamas is the only county that moved upward, rising from 2 to 8 closings, but even that increase represents just 8% of the regional total. Hood River, Washington, Yamhill, and Columbia collectively contributed one new‑construction sale last year and none this year, reinforcing how geographically concentrated builder activity is.

The takeaway is simple: when Multnomah slows, the region slows, because almost all condo new construction happens there.

The table below shows new construction sales volume by dollar amount for Q1 2026 compared with Q1 2025.

CountyQ1 2025 $ AmountQ1 2026 $ Amount% Change% of Total 2026 $ Amount
Clackamas$728,000$6,160,000746.15%3.10%
Columbia$0$00.00%
Hood River$700,000$0-100.00%0.00%
Multnomah$54,090,615$49,949,548-7.66%25.10%
Washington$0$00.00%
Yamhill$0$00.00%
Sum$55,518,615$56,109,5481.06%28.20%
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

The following double bar chart provides the above information at a glance.

This table and its companion bar graph sharpen the story we’ve been building: Multnomah still dominates condo new construction, but its slowdown defined the quarter—and the only reason regional dollar volume didn’t fall was a lift from Clackamas.

Multnomah’s new‑construction dollar volume slipped from $54.1M to $49.9M (‑7.66%). That decline aligns with the ‑32.64% drop in new‑construction unit counts shown in the regional overview. Even with the Ritz contributing high‑value closings in March, Multnomah still ended the quarter down year‑over‑year. The Ritz helped hold the line, preventing a steeper decline, but it didn’t fully erase the slowdown.

What actually nudged the regional total slightly upward (+1.06%) was Clackamas County. Its increase from $728K to $6.16M—driven by six additional new‑construction closings—was just enough to offset Multnomah’s decline. The scale is small, but the impact is real: without Clackamas’ bump, regional new‑construction dollar volume would have fallen.

The bar graph reinforces this visually. Multnomah’s bar towers over every other county, and its contraction shapes the regional trend. Clackamas appears as a modest but meaningful counterweight. The remaining counties—Columbia, Hood River, Washington, Yamhill—contribute effectively nothing and function as rounding errors.

The following map shows the distribution of new construction sales:

The vast majority of new construction condos are located east of the Willamette River.

Cumulative Days on Market

The bar chart below compares average cumulative days on market (CDOM) across the three months of Q1 2025 and Q1 2026.

The monthly CDOM comparison shows that Q1 2026 didn’t move uniformly—it wobbled month‑to‑month before settling into the higher quarterly average we see in the overview. January actually improved year‑over‑year, dropping from 130 to 111 days (‑15%). That early‑quarter efficiency didn’t last. February swung sharply in the opposite direction, rising from 96 to 137 days (+43%), which is the month that ultimately pulls the quarter upward. March then returned to equilibrium, matching last year almost exactly at 111 days.

The bar chart’s pattern—down, up, flat—visually reinforces the broader takeaway: the market wasn’t consistently slower every month, but it was slower overall. With February carrying so much weight, the quarter ends at an average 119.62 days, up 7.99% year‑over‑year. That increase aligns with what we’ve seen throughout the regional overview: buyers were more selective, listings aged longer, and the core market softened enough to push CDOM upward even as luxury activity revived late in the quarter.

The bar chart below breaks out average CDOM by market segment for the three months of Q1 2026, comparing core (< $1M) and luxury (≥ $1M) properties.

The core‑versus‑luxury comparison shows how differently the two segments behaved in Q1 2026, and how sharply March diverged from the rest of the quarter. Core listings moved slowly throughout, averaging 122.67 days on market for the quarter. January and March were steady at 111 and 121 days, while February pushed higher to 134, which is the month that ultimately drives the core average upward.

Luxury moved in a much more uneven pattern. January’s 80‑day average reflects a normal pace for high‑end units in a softer market. February’s 192‑day average shows the opposite extreme—luxury listings that sat for months before finding buyers. Then March breaks the pattern entirely: the return of Ritz‑Carlton closings produced a cluster of sales with 0 or 1 days on market, pulling the luxury average down to 5 days for the month and dropping the quarterly luxury average to 60.16 days.

Those ultra‑low March readings aren’t random outliers—they’re a signal of pent‑up demand and pre‑positioned buyers waiting for the Ritz‑Carlton Portland Residences to resume closings. When the project finally released units again, the brokerage almost certainly had interested parties already lined up, so the earliest March sales closed immediately upon hitting the market. In other words, the March luxury CDOM isn’t fast because the market structurally changed—it reflects a pipeline of buyers who had been waiting months for the opportunity to transact.

HOA Dues

HOA dues are a defining feature of the condominium residential market. The bar chart below compares average monthly HOA dues (for reporting sales) for Q1 2025 and Q1 2026 broken out by county:

The county‑level breakout immediately highlights how uneven HOA dues are across the region—and how sharply Multnomah shifted year‑over‑year. Clackamas and Washington both show modest, stable figures, with Clackamas dipping slightly from $502 to $472 and Washington increasing from $459 to $492. Those changes are small enough that they don’t meaningfully alter the character of either county’s condo market.

Multnomah is the outlier. Average monthly dues jumped from $454 in Q1 2025 to $636 in Q1 2026, a substantial increase driven by the mix of units that sold this quarter. With the return of Ritz‑Carlton closings—and several other high‑amenity buildings contributing sales—Multnomah’s average reflects a heavier concentration of complexes with premium services and correspondingly higher dues. Because Multnomah accounts for the vast majority of regional condo activity, its shift dominates the overall trend.

The bar chart below compares average monthly HOA dues per square foot (for reporting sales) for Q1 2025 and Q1 2026:

The dues‑per‑square‑foot view tracks closely with the average monthly dues, reinforcing that HOA costs in the Portland Region scale primarily with unit size rather than with county‑specific fee structures. Clackamas and Washington remain stable year‑over‑year, with Clackamas dipping from $0.45 to $0.39 per square foot and Washington holding essentially flat at $0.45 to $0.46. These small movements mirror the modest changes in their average monthly dues and reflect markets where HOA fees tend to be predictable and tied to straightforward maintenance obligations.

Multnomah again stands out. Dues per square foot rose from $0.41 to $0.54, a jump that aligns with the county’s sharp increase in average monthly dues. The pattern confirms that the higher HOA costs in Q1 2026 weren’t driven by smaller units or unusual fee structures—they were driven by the mix of buildings that sold, particularly high‑amenity complexes like the Ritz‑Carlton Portland Residences and other full‑service properties. When those buildings transact, both total dues and dues per square foot rise in tandem.

The consistency between the two charts underscores a simple point: HOA dues in this region are largely a function of square footage, and when the sales mix shifts toward buildings with premium services, both the monthly dues and the per‑square‑foot metrics move together.

Miscellaneous Statistics & Standout Transactions

Here are some of the most notable outliers and extremes from the 2026 Portland Region condominium residential market—numbers that illustrate the full range of the data and the extremes buyers and appraisers encounter.

Lowest Sales Price:  $100,000—This was a 1,104 sq. ft. bank owned condo unit in the golf course community Country Club Estates in Gresham. The unit needed a little work, but represented a low-price entry for bargain buyers. This property also has the lowest price per square foot for the quarter ($90.57). Photos of this property are currently available  online.

Highest Sales Price:  $2,450,000—Unsurprisingly, the highest sale of the quarter was a unit on the 32nd floor of The Ritz Carlton Residences. This luxury new construction unit also had the highest price per square foot for the quarter ($1,078.89) as well as the highest monthly HOA dues ($3,833). Photos of this property are currently available  online.

Smallest Condo:  340 sq. ft.—This condo is located right by I-205 and sold for $118,500—close in price to the lowest sale. HOA dues are also modest, just $192 per month. The low dues may have contributed to the assessment the unit had paid off prior to close, which was nearly $20,000. This illustrates the risk of condo associations with unusually low dues. Photos of this property are currently available  online.

Largest Condo:  4,163 sq. ft.—This riverfront condo unit located in the South Portland neighborhood took the crown for the largest condo in Q1 2026. The unit has three bedrooms and three bathrooms and sold for $1.25M. Photos of this property are currently available  online.

Highest Monthly HOA Dues Per SF:  $1.55/SF—Located in Beaverton, this two-bedroom, two-bath condo is 1,119 sq. ft. and has monthly HOA dues of $1,784. The condo is in an age-restricted community (55+) and includes 14 meals per month. Photos of this property are currently available  online.

Longest CDOM:  1,433 days—This 886 sq. ft. condo is located in the Goose Hollow neighborhood and first went on the market in early 2022 and was listed for $335,000. After several listings it finally managed to close for $270,000 in March of 2026. Photos of this property are currently available  online.

With the regional aggregate trends, graphs, monthly patterns, and notable outliers covered, the remainder of this update turns to a county-level breakdown. The following sections present year-over-year comparisons for each of the three counties in the Portland Region with appreciable volume—Multnomah, Washington, and Clackamas. Columbia and Hood River counties had no sales and Yamhill County only had one sale for the quarter. Each county snapshot includes key metrics, commentary on local drivers, and any segment-specific observations that help explain broader regional patterns.

Multnomah County Q1 2026 Stats

The table below summarizes key metrics for Multnomah County condominium residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$145.0 Million$143.8 Million-0.86%
Average Price$382,678$415,580+8.60%
Median Price$337,500$333,000-1.33%
Avg SP/OLP94.34%92.75%-1.69%
Avg PPSF (TSF)$353.33$347.11-1.76%
Avg HOA Dues$454.28$636.25+40.06%
Median HOA Dues$399.08$493.00+23.53%
Avg Age (Yrs)25.5932.32+26.32%
Avg CDOM122.34124.10+1.44%
Avg Total SF1,0951,180+7.69%
Total # of Sales379346-8.71%
# of New Constr.14189-36.88%
# of REOs510+100.00%
# of Short Sales10-100.00%
Average PABAI108.49114.55+6.06 pts
# Affordable215208-7 units
% Affordable56.73%60.12%+3.39 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (370 sales for Q1 2025 & 330 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

Multnomah’s Q1 2026 condo market shows a mix of stability, compositional change, and luxury‑driven influence. Total dollar volume barely moved year‑over‑year (‑0.86%) despite an 8.7% decline in sales count, a sign that higher‑value transactions—particularly the Ritz‑Carlton closings—helped offset lower throughput. Average price rose 8.6%, even as median price dipped slightly, reflecting a shift toward larger and more expensive units rather than broad price appreciation.

HOA dues saw the most dramatic change. Average dues jumped 40%, and median dues rose 23.5%, confirming that the increase wasn’t limited to the luxury segment. A heavier concentration of older, full‑service, and higher‑amenity buildings contributed to the rise, and the mix shift is reinforced by the increase in average unit age (+26%) and average square footage (+7.7%).

Market tempo remained surprisingly steady. CDOM rose only 1.44%, indicating that Multnomah did not experience the same slowdown seen in the broader regional market. Listings continued to move at nearly the same pace as last year, even with fewer new‑construction units and a more varied mix of properties.

Affordability improved modestly. PABAI rose from 108.49 to 114.55, and the share of affordable units increased from 56.7% to 60.1%, driven primarily by better mortgage rates rather than price declines. The number of affordable units dipped slightly, but affordability as a percentage of sales increased.

Overall, Multnomah’s Q1 2026 performance reflects a market shaped by luxury activity, older and larger units, and higher HOA dues, yet one that maintained a steady tempo and remained broadly affordable under current financing conditions.

The following is a scatter plot of all Multnomah County sales in Q1 2026:

The full scatter plot presents a clear picture of how Q1 2026 unfolded in Multnomah County. Most sales cluster at $500,000 or below, forming a dense core that reflects the county’s typical condo activity. That concentration is consistent with the pricing distribution shown in the table: even with luxury influence, Multnomah remains a predominantly mid‑market environment.

The plot also shows the moment when Ritz‑Carlton closings came online in March. Those sales appear as the higher‑priced outliers rising above the main cloud. They don’t overwhelm the graph numerically, but they do stand out visually and help explain why dollar volume held steady despite fewer total sales.

No major tilt or directional shift is evident across the quarter. Sales are distributed evenly through time, with no clear slowdown or surge outside the Ritz activity. That stability aligns with Multnomah’s CDOM figures, which changed very little year‑over‑year.

Zooming in on sales priced at $800,000 or less we have:

Clipping the data to sales at $800,000 or less produces a much clearer view of Multnomah’s core condo market, with 316 of the 346 Q1 2026 sales remaining. With the higher‑priced sales removed, the cloud becomes noticeably thinner above $500,000, which is exactly what we would expect given that the county’s average condo price in Q1 2026 was roughly $416,000. Most activity sits well below the $500,000 mark, forming a dense, stable cluster that reflects the dominant mid‑market segment.

The distribution across the quarter remains even. There’s no visible tilt toward early or late months, and no clustering that suggests a sudden shift in buyer behavior or market tempo. The scatter simply shows consistent transactional flow throughout Q1 2026, with the core segment operating at a steady rhythm.

This zoomed‑in view isolates the everyday market dynamics in Multnomah County, separate from the higher‑priced and luxury influence seen in the full‑range scatter. It highlights how the majority of condo sales occur in a relatively narrow price band and how stable that segment remained throughout the quarter.

Washington County Q1 2026 Stats

The table below summarizes key metrics for Washington County condominium residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$40.14 Million$31.84 Million-20.67%
Average Price$316,074$289,498-8.41%
Median Price$305,000$295,000-3.28%
Avg SP/OLP95.59%92.96%-2.75%
Avg PPSF (TSF)$297.17$260.77-12.25%
Avg HOA Dues$459.30$492.49+7.23%
Median HOA Dues$425.00$482.00+13.41%
Avg Age (Yrs)31.0032.57+5.07%
Avg CDOM77.60106.03+36.64%
Avg Total SF1,0921,136+4.02%
Total # of Sales127110-13.39%
# of New Constr.00
# of REOs31-66.67%
# of Short Sales03
Average PABAI111.57127.80+16.23 pts
# Affordable7694+18 units
% Affordable59.84%85.45%+25.61 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (125 sales for Q1 2025 & 107 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

Washington County’s condo market saw more pronounced shifts between Q1 2025 and Q1 2026, with several indicators pointing to softer demand conditions. Total dollar volume fell 20.7%, a larger decline than the 13.4% drop in the number of sales, suggesting that the units selling this year were generally lower‑priced. Average price, median price, and price per square foot all moved downward, reflecting a mix that leaned toward more modest units. The broader economic backdrop—particularly the Intel layoffs—likely contributed to this tilt, reducing upward pressure on pricing and dampening buyer activity across the westside.

Marketing times lengthened substantially. Average CDOM rose from 77.6 days to 106.0 days, adding nearly a full month to the typical listing period. This increase mirrors the regional slowdown but was likely amplified locally by employment uncertainty. Sellers also had to concede more from their original list prices, with SP/OLP falling from 95.6% to 93.0%, a shift consistent with a market where buyers exercised more caution and negotiation leverage.

Affordability, however, improved sharply. PABAI increased more than sixteen points, and the share of affordable units rose from 59.8% to 85.5%. Even with fewer total sales, the number of affordable units increased from 76 to 94. This improvement is driven primarily by better mortgage rates, though the decline in pricing helped reinforce the trend. Washington County’s condo segment remains one of the most affordable in the region, and Q1 2026 underscored that position.

Washington County also had no new‑construction condo sales in either quarter, and this absence is part of a longer‑running trend. The entire year of 2024 produced just 12 new condo units and all of 2025 produced only 5, leaving the county with virtually no active condo development pipeline. This lack of new supply does not directly explain the jump in CDOM—that increase is clearly tied to regional softening and the Intel layoffs—but it does shape the composition of what sells. With no new units entering the mix, the segment leans heavily on older, modest buildings. Average age naturally drifts upward, PPSF becomes more sensitive to demand shifts, and buyers face a narrower range of choices than in counties with active condo development.

The contrast with Washington County’s attached‑home market is notable. While condo development has been nearly inactive, the attached segment has been exceptionally strong. In 2025, 53.65% of all attached‑home sales in the Portland Region occurred in Washington County, and builders delivered 393 new attached units, compared to 169 in Multnomah. Builders appear to be responding to buyer preferences, and those preferences currently favor attached homes over condos. This divergence helps explain why Washington’s condo segment feels constrained while its attached segment remains active and well‑supplied. For more detail on this trend, see the 2025 Attached Homes Annual Review.

Taken together, these patterns show a condo market adjusting to economic headwinds while also operating within a limited development environment. Softer demand, longer marketing times, and lower pricing define the quarter, but the structural absence of new condo supply adds an additional layer that shapes the segment’s age profile, affordability, and overall behavior.

The following is a scatter plot of all Washington County sales in Q1 2026:

The full scatter plot for Washington County shows a market that is active but clearly softer than Multnomah, with most sales clustering below $400,000 and only a small number of transactions pushing toward the upper end of the county’s condo price spectrum. The cloud is dense in the mid‑market range, reflecting the county’s overall pricing profile and the declines seen in average price, median price, and PPSF in the quarterly table.

There is no strong tilt or directional shift across the quarter. Sales appear consistently from the beginning of January through the end of March, with no obvious surge or slowdown tied to specific weeks. This even distribution aligns with the broader regional pattern of slower but steady buyer activity. The scatter does not show abrupt gaps or clustering that would suggest a sudden change in demand; instead, it reflects a market that continued to move, albeit at a more measured pace.

The upper end of the scatter is relatively thin, which is expected given Washington County’s average condo price of $289,498 in Q1 2026 and the absence of new luxury or high‑amenity buildings. Without new‑construction condos entering the mix, the segment leans heavily on older, modest units—a structural condition that shapes the entire distribution of prices visible in the plot. The lack of new supply doesn’t create volatility; it simply limits the range of available product types, which is exactly what the scatter shows.

Overall, the full‑range scatter illustrates a condo market defined by mid‑market activity, steady transactional flow, and a narrower price band than counties with active condo development. It complements the table by visually reinforcing the softer pricing environment and the stable but slower rhythm of Q1 2026.

Clackamas County Q1 2026 Stats

The table below summarizes key metrics for Clackamas County condominium residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026Change
Total $ Volume$16.62 Million$23.16 Million+39.36%
Average Price$353,546$428,844+21.30%
Median Price$320,000$352,500+10.16%
Avg SP/OLP94.94%93.84%-1.16%
Avg PPSF (TSF)$300.25$321.18+6.97%
Avg HOA Dues$502.03$472.11-5.96%
Median HOA Dues$486.00$504.00+3.70%
Avg Age (Yrs)35.1929.09-17.33%
Avg CDOM95.30116.35+22.09%
Avg Total SF1,2471,272+1.99%
Total # of Sales4754+14.89%
# of New Constr.28+300.00%
# of REOs02
# of Short Sales000.00%
Average PABAI101.43110.36+8.93 pts
# Affordable2632+6 units
% Affordable55.32%59.26%+3.94 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (46 sales for Q1 2025 & 53 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Condominium Residential | Q1 2025 & Q1 2026
Data: RMLS |  PortlandAppraisalBlog.com

Clackamas County’s condo market stands out immediately because it is the only county to post an increase in total dollar volume. The jump of 39.36% is driven almost entirely by higher throughput: sales rose from 47 to 54, a meaningful gain given how small this segment is. With such low volume, even modest increases in activity can move county‑level totals quite a bit.

Pricing moved upward across the board. Average price rose 21.3%, median price increased 10.2%, and PPSF climbed nearly 7%. These increases are partly compositional. Clackamas had 8 new‑construction condo sales in Q1 2026 compared to just 2 the year before. In a small market, even a handful of new units can lift averages, especially when the existing stock is older and more modest. The decline in average age from 35.2 years to 29.1 years reflects this shift directly. Clackamas also saw several sales at or above $1.5M; the highest sale in Q1 2025 was only $710,000.

The HOA pattern in Clackamas is different from the other counties. Median dues are higher than average dues, which indicates that a number of units have very low HOA dues that pull the average down. This is consistent with the county’s inventory: Clackamas has more small, older complexes with minimal amenities, and those buildings often carry lower dues. At the same time, the median rising from $486 to $504 shows that the typical building still saw modest upward pressure.

Marketing times lengthened, with CDOM rising from 95.3 to 116.4 days, a trend consistent with the regional slowdown. Sellers conceded slightly more from their original list prices, though the change in SP/OLP was modest. Affordability improved as well, with PABAI rising nearly nine points and the share of affordable units increasing from 55.3% to 59.3%.

Overall, Clackamas shows a mix of stronger throughput, higher pricing, and modest compositional shifts driven by a small but meaningful increase in new‑construction units. It remains a small condo market, but Q1 2026 was a comparatively active quarter.

The following is a scatter plot of all Clackamas County sales in Q1 2026:

The full scatter plot for Clackamas County shows a market with a wide price spread, reflecting both the county’s modest core inventory and the presence of a few high‑end units that push well above the typical range. Most sales cluster between roughly $200,000 and $500,000, forming a dense mid‑market cloud that aligns with the county’s median price of $352,500. This is the heart of Clackamas’s condo activity, and the scatter makes clear that the majority of transactions occur in this relatively narrow band.

Above that core, the plot shows a handful of higher‑priced outliers—units selling above $1 million, and even one approaching $2.2 million. These sales, located in Lake Oswego, are not representative of the broader market, but they do help explain why average price rose 21.3% year‑over‑year. In a small county with only 54 sales, even a few high‑end closings can noticeably lift averages. This is also where the increase in new‑construction units matters: Clackamas recorded 8 new‑construction condo sales in Q1 2026, compared to just 2 the year before. New units tend to be larger, newer, and more expensive, and their presence contributes to the upward movement in both average price and PPSF.

The scatter shows steady activity across the quarter, with no strong tilt toward early or late months. Sales appear consistently, reflecting a market that moved at a measured but continuous pace. The increase in CDOM—rising from 95.3 to 116.4 days—is not visible in the scatter itself, but the even distribution of points suggests that listings continued to find buyers despite the slower regional tempo.

Zooming in on sales priced at $700,000 or less we have:

Zooming in on sales $700,000 and below helps isolate the core market by removing the high‑end outliers. Once clipped, the scatter becomes much more representative of typical Clackamas activity. The cloud is dense below $500,000, and the distribution above that level is almost nonexistent—exactly what we would expect given the county’s pricing profile and the modest nature of most of its condo inventory.

This zoomed‑in view reinforces the compositional story in the table. Clackamas remains a small condo market dominated by older, mid‑market units, but the addition of a few new‑construction sales in Q1 2026 nudged pricing upward and lowered the average age of the segment. The scatter shows that the core market remained active and stable, while the high‑end units—though few—added noticeable lift to the county’s averages.

Closing Thoughts

Across the Portland Region, Q1 2026 showed a condo market adjusting to softer demand, longer marketing times, and a more cautious buyer pool. Washington County reflected this most clearly, with lower pricing, slower tempo, and a sharp rise in affordability shaped by both economic conditions and a lack of new‑construction supply. Multnomah County remained the region’s anchor, with stable mid‑market activity and a handful of luxury closings that lifted dollar volume without altering the underlying rhythm of the quarter. Clackamas County stood apart, posting higher throughput and higher pricing, helped by a small but meaningful increase in new‑construction units and a few high‑end sales that expanded the county’s price range.

Even with these differences, the counties shared several common themes. Marketing times increased everywhere, sellers conceded more from their original list prices, and the mid‑market segments carried the bulk of transactional activity. Improved mortgage rates pushed affordability higher across the region, especially in counties with modest inventory profiles.

Taken together, Q1 2026 was a quarter defined by recalibration rather than disruption. The condo market moved at a slower pace, but it remained active, stable, and responsive to both economic conditions and the evolving structure of regional housing supply.

What trends do you expect to see in Q2 2026? I’d love to hear your thoughts—feel free to reply here or reach out directly.

Sources & Further Reading

All data presented in this quarterly update is sourced directly from RMLS and has been subjected to a rigorous cleaning and validation process to ensure reliability for condominium residential analysis in the six-county Portland Region. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Coda

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The Portland Region Q1 2026 Detached Homes Market Update

Q1 2026 detached homes: average price $659,197, median $580,000, and 3,349 sales in the Portland Region. Core (< $1M) dipped modestly, luxury new construction (≥ $1M) fell 44%, and CDOM rose in most counties. Mix shifts shaped pricing as smaller lots sold. Affordability improved, but demand held steady despite slightly lower mortgage rates.


Via Canva Pro

The first quarter of 2026 landed softer than the same period last year, even as mortgage rates eased from their 2025 highs. Activity across the region was steady enough to keep the market functional, but not strong enough to match last year’s pace. What emerged instead was a quarter defined by segmentation: different counties, and even different price tiers within counties, moved in noticeably different directions depending on what types of homes sold.

The core market—homes under $1 million—saw mild slippage, much of it tied to compositional changes. Smaller homes on smaller lots were more common this quarter, which pulled down average prices even as underlying values remained relatively stable. The luxury market told a different story. New construction in the $1M+ segment fell sharply, and that retreat alone accounted for a large share of the region’s year‑over‑year decline. With fewer high‑end new builds closing, luxury volume and pricing softened more noticeably than the core.

Across the region, buyers were active but deliberate, and sellers faced longer marketing times in most counties. Affordability improved modestly thanks to lower rates, but not enough to materially change buyer behavior. Taken together, Q1 2026 was not a dramatic quarter—just a quieter one, shaped as much by what sold as by how the market performed.

Table of Contents

Data Housekeeping

The Portland Region in this update comprises the six Oregon counties of Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill. These counties form a contiguous housing ecosystem centered on Portland—Multnomah as the core home county, with the others tightly integrated through commuting patterns, economic ties, and shared market dynamics (e.g., Yamhill’s strong connection via Highway 99W and wine-country adjacency). Beyond Yamhill, the MLS system changes, further distinguishing this six-county area from broader geographic aggregations. For a detailed overview—including county profiles, population data, key value influencers, and why this definition differs from the official seven-county Portland–Vancouver–Hillsboro MSA—see the dedicated page: The Portland Region – Six-County Market Area Overview.

Colored map of the six counties comprising the Portland Region: Clackamas, Columbia, Hood River, Multnomah, Washington, and Yamhill.
The six-county Portland Region
Via SunCatcherStudio

All data is sourced from RMLS and reflects open-market detached single-family residential sales (excluding condos, attached homes, manufactured homes on leased land, and multifamily). SNL (“Sold Not Listed”) entries—off-market transactions entered retroactively—have been excluded to preserve consistency with true market activity.

All figures have undergone my standard cleaning process to address common RMLS accuracy challenges, including misclassifications (e.g., condos listed as detached), square footage/price typos, incomplete fields, status/date mismatches, and non-representative entries. For a detailed overview of these issues, their impact on market analysis, and how I mitigate them through automated flagging, cross-verification, and manual review, see the dedicated page: RMLS Data Accuracy Challenges.

Residential Housing Snapshot

CategoryDetachedAttachedCondoManuf.
Total $ Volume$2.2B$161.0M$199.0M$32.4M
Avg Price$659,197$444,672$389,438$540,352
Avg PPSF (Total SF)$316.21$286.91$325.55$356.75
Avg Total SF2,1641,5761,1801,571
Avg Lot Size (ac)0.6550.066N/A7.959
Avg Age (Yrs)46.0315.0932.0329.10
Avg CDOM80.2280.59119.62118.25
# of Sales3,34936251160
% of Market78.21%8.45%11.93%1.40%
Highest Sale$5,725,950$1,175,000$2,450,000$2,400,000
Lowest Sale$135,000$249,000$100,000$199,700
Price Spread Ratio42.414.7224.5012.02
PPSF Spread Ratio30.934.0811.9113.29
Total SF Spread Ratio23.464.1412.243.52
Avg PABAI80.47104.13117.08110.94
Q1 2026 (4,282 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

Detached homes continue to define the structure of the Portland Region’s residential market in Q1 2026. They account for more than three‑quarters of all open‑market residential sales and over $2.2 billion of the region’s $2.6 billion in total dollar volume, and they remain the least affordable segment with a PABAI of 80.47. For readers new to the metric, a PABAI of 100 means a home is perfectly affordable to the median HUD MSA income; values below 100 indicate unaffordability, and values above 100 indicate more readily affordable conditions. Detached properties also sit on ten times the land of attached homes on average and are significantly larger, with an average dwelling size more than 500 square feet above attached and manufactured homes and over 1,000 square feet above condos. Their wide spread ratios across price, PPSF, and size reflect a segment that spans everything from sub‑$150,000 fixers to multi‑million‑dollar estates. This combination of scale, land intensity, and internal diversity will be explored in greater detail in this update.

In contrast, the other three segments help illustrate the pathways buyers take when detached becomes harder to access. Attached homes are the clearest counterpoint: the youngest segment (average age ~15 years), the most uniform by spread ratios, and the most “commodity‑like” product in the region. Their modest affordability (PABAI 104.13) and predictable size and pricing make them the safety‑net entry point for buyers priced out of detached. Condos and manufactured homes share surprising similarities—affordability (PABAI 117.08 and 110.94), age, CDOM, and even price ceilings—yet diverge sharply in average price because manufactured homes trade on land, while condos trade on HOA dues, the hidden variable that shapes their affordability profile.

Entry‑level opportunities still exist across the region, with the lowest Q1 sale closing at $100,000, but buyers must compromise on location, utility, condition, or quality—especially for detached fixers. Three of the four segments cluster in the low–mid $300s PPSF, underscoring that structure cost is relatively consistent across the metro; it is land and home size that creates the separation between detached and everything else. Spread ratios help illustrate this internal variation by comparing the highest and lowest values within each segment—higher ratios indicate a wider spectrum of product types and price points, while lower ratios signal a more uniform, commodity‑like segment. Detached homes’ wide spread ratios (Price 42.41, PPSF 30.93, SF 23.46) highlight its internal variability and set the stage for the segment‑specific analysis that follows.

Portland Region Q1 2026 Overview

Overall Regional Trends

The table below summarizes key metrics for detached single-family residential sales in the Portland Region (Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill counties) for Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$2.25 Billion$2.21 Billion-1.79%
Average Price$673,455$659,197-2.12%
Median Price$590,000$580,000-1.69%
Avg SP/OLP97.35%96.88%-0.48%
Avg PPSF (TSF)$320.27$316.21-1.27%
Avg HOA Dues$71.23$69.10-2.99%
Avg Lot Size (ac)0.630.66+4.15%
Avg Age (Yrs)46.1446.03-0.24%
Avg CDOM72.1080.22+11.26%
Avg Total SF2,1672,164-0.16%
Total # of Sales3,3383,349+0.33%
# of New Constr.459461+0.44%
# of REOs1640+150.00%
# of Short Sales1114+27.27%
Average PABAI71.0580.47+13.26%
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues (860 sales for Q1 2025 & 879 sales for Q1 2026). All other metrics use the full dataset for each quarter.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Key Observations From the Aggregate Data

The regional market showed modest softening in Q1 2026, with average and median prices both posting low‑single‑digit declines. Because total sales, average square footage, new‑construction activity, and the age of sold homes all remained essentially unchanged year over year, much of this movement reflects genuine price erosion rather than a shift in the types of homes selling. Dollar volume fell by nearly the same percentage as median price, reinforcing that the decline was driven by pricing rather than a contraction in activity.

Affordability improved meaningfully, with the regional PABAI rising from 71.05 to 80.47. This improvement was driven less by price relief and more by the combination of rising HUD MSA incomes and the fact that Q1 2025 mortgage rates were among the most punishing of the cycle. Even with this improvement, the region remains broadly unaffordable to the median household, but the year‑over‑year shift marks a notable easing of conditions compared to the prior winter.

One nuance becomes clear only when the market is sliced: while the regional average lot size increased slightly, this was driven by the ≥$1M segment, where larger‑parcel properties made up a greater share of sales. In the core market (<$1M), average lot size actually declined, and that shift contributed to the mild price softening in that segment. This compositional effect is not visible in the aggregate data but becomes important when interpreting the underlying dynamics of the detached market.

Distressed sales, while still a small share of the market, increased materially. REOs more than doubled and short sales rose as well, bringing the distressed share from 0.80% to 1.61% of all closings. These are not systemic levels, but they may represent early signs of pressure at the margins—particularly among households who purchased or refinanced during the peak‑rate environment. Marketing times lengthened for the second consecutive year, with CDOM rising more than 11%. This continues the multi‑quarter pattern of a market weighed down by persistently high interest rates, where buyers remain active but more selective, and sellers face longer exposure before securing a contract.

Portland Region Scatter Plots

To visualize the distribution of individual detached homes sales prices across Q1 2026, the following scatter plot shows sales price against date of sale:

The scatter plot below illustrates the distribution of individual detached home sales across Q1 2026, with each point representing a single closing. The vast majority of activity—more than 3,000 of the 3,349 sales—occurred below $1 million, forming the dense mid‑band that represents the functional core of the detached market. Above $1 million, the cloud begins to thin, with a smaller set of luxury transactions extending into the $3–5 million range; these outliers contribute to the segment’s wide price spread but do not define overall market behavior. The vertical dispersion in the chart reflects the extraordinary diversity of detached housing in the region, ranging from sub‑1,000‑square‑foot cottages to 9,000‑square‑foot luxury builds, combined with differences in land, location, and condition. Sales are evenly distributed across the quarter, showing a market that remained active and steady, and the absence of any clear trend reinforces that the modest year‑over‑year price erosion observed in the aggregate data reflects broader conditions rather than intra‑quarter softening.

Core Market (< $1M)

The core market—detached single‑family homes closing under $1 million—continues to anchor the region’s detached activity, representing 91.61% of all sales and 81.03% of total dollar volume in Q1 2026. Because this segment accounts for nearly all transactions, it provides the clearest view of underlying market conditions. Year‑over‑year changes are modest, but they reveal a market that remains functional, rate‑weighted, and subtly reshaped by a shift in land characteristics that is not visible in the regional aggregates.

The table below shows core-market metrics for Q1 2026 compared with Q1 2025.

CategoryCore (< $1M) Q1 2025Core (< $1M) Q1 2026% Change
Total $ Volume$1.81 Billion$1.79 Billion-1.07%
Average Price$592,021$583,036-1.52%
Median Price$570,000$565,000-0.88%
Avg SP/OLP97.54%97.12%-0.43%
Avg PPSF (TSF)$312.73$308.78-1.27%
Avg Lot Size (ac)0.510.45-11.48%
Avg Age (Yrs)46.9746.46-1.07%
Avg CDOM69.0075.11+8.86%
Avg Total SF2,0072,005-0.09%
Total # of Sales3,0543,068+0.46%
# of New Constr.407432+6.14%
% of $ Volume80.43%81.03%+0.74%
% of Market91.49%91.61%+0.13%
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Price levels in the core segment softened slightly, with average price down about 1.5% and median price slipping just under 1%. These declines are small but meaningful—and importantly, they are partly compositional. While total square footage, average age, and the number of sales remained essentially unchanged, average lot size contracted from 0.51 to 0.45 acres, a notable shift for detached homes. Smaller parcels naturally pull down both price and PPSF, even when structure size is stable. This nuance is masked in the regional overview, where the >$1M segment—characterized by larger lots—pulled the overall average upward. Only by slicing the market does the underlying trend become clear: the core segment sold slightly less land this year, and that contributed to the mild price erosion.

PPSF followed the same pattern, declining from $312.73 to $308.78 (‑1.3%). With total square footage essentially flat (2,007 → 2,005), this movement reflects both the modest softening in pricing and the shift toward smaller lots. In a detached market where land is a major component of value, even small changes in parcel size can influence price metrics in ways that are not immediately visible without segmentation.

New construction strengthened the segment, rising from 407 to 432 closings (+6.1%). This increase helped keep the average age of sold homes stable and indicates that builders continue to find demand in the entry‑to‑mid‑level detached market despite elevated borrowing costs. The steady flow of new inventory also contributes to the segment’s overall stability, offering buyers predictable options within the core price band.

Market tempo slowed, with average cumulative days on market rising from 69 to 75 days (+8.8%). This increase mirrors the broader regional pattern and reflects the behavior of affordability‑conscious buyers navigating higher rates: more comparison shopping, more negotiation, and more time before committing. The slight decline in the SP/OLP ratio (97.54% → 97.12%) reinforces this dynamic, showing that buyers in the core segment have gained a bit more leverage than they held a year ago.

Overall, the core market remains structurally stable. Prices softened modestly, lots trended smaller, new construction strengthened, and buyers took more time to transact—all consistent with a detached market adjusting to persistent rate pressure rather than reacting to distress or volatility. The compositional shift in land is the key nuance this quarter: it explains part of the mild price decline and highlights why slicing the market is essential for understanding the true dynamics beneath the regional averages.

Core Market (< $1M) Scatter Plot

To visualize pricing behavior within the core detached segment, the following scatter plot shows individual sales under $1 million across Q1 2026:

Most core‑market sales fall between $300,000 and $800,000, and this is where the scatter plot forms its densest cluster; 86.95% of detached sales occur within this range. Activity becomes noticeably thinner above $800,000 and tapers further as prices approach the $1 million threshold. The even spread of points across the quarter indicates a steady, active market with no visible intra‑quarter trend—consistent with a segment that is stable, rate‑weighted, and not experiencing rapid shifts in buyer or seller behavior. The mild year‑over‑year softening observed in the core market reflects broader conditions and subtle compositional changes rather than any short‑term movement within the quarter.

Luxury Market (≥ $1M)

The luxury segment—detached homes closing at $1 million or more—remains a small but influential share of the regional market, representing 8.39% of all sales and 18.97% of total dollar volume in Q1 2026. Activity held essentially flat year over year, with total sales dipping only slightly (284 → 281), but the composition of what sold shifted in ways that meaningfully shaped the segment’s pricing and tempo.

The table below shows luxury-market metrics for Q1 2026 compared with Q1 2025.

CategoryLuxury (≥ $1M) Q1 2025Luxury (≥ $1M) Q1 2026% Change
Total $ Volume$440.0 Million$418.9 Million-4.79%
Average Price$1,549,154$1,490,724-3.77%
Median Price$1,275,000$1,289,900+1.17%
Avg SP/OLP95.31%94.33%-1.03%
Avg PPSF (TSF)$401.34$397.33-1.00%
Avg Lot Size (ac)1.932.90+50.04%
Avg Age (Yrs)37.2441.27+10.82%
Avg CDOM105.49136.05+28.97%
Avg Total SF3,8913,897+0.15%
Total # of Sales284281-1.06%
# of New Constr.5229-44.23%
% of $ Volume19.57%18.97%-3.05%
% of Market8.51%8.39%-1.38%
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

The most striking change this quarter is the sharp increase in market time. Average cumulative days on market rose from 105 to 136 days, a nearly 29% jump that pushes the segment well past the four‑month mark. This reflects a luxury market where buyers remain active but highly selective, and where elevated borrowing costs have lengthened decision cycles. The decline in the SP/OLP ratio (95.31% → 94.33%) reinforces this dynamic: sellers are conceding more at the negotiation table to secure a contract.

Pricing signals are mixed but ultimately point toward softening. Average price fell 3.8%, while median price rose 1.2%—a divergence explained by a significant compositional shift. The average lot size of sold luxury homes increased dramatically, from 1.93 to 2.90 acres (+50%). Larger parcels tend to pull the median upward even when underlying pricing is flat or declining. This is consistent with the modest drop in PPSF (‑1.0%) and the decline in average price, both of which indicate that the underlying value trend is softening despite the median tick upward.

The segment also skewed older this year, with average age rising from 37 to 41 years. This is directly tied to the steep decline in new‑construction closings (52 → 29, down 44%). With fewer new deliveries entering the upper market, older resale inventory made up a larger share of what sold. These resales helped keep total unit volume nearly flat.

Overall, the luxury market in Q1 2026 reflects a slower, more deliberate segment shaped by higher rates, fewer new‑construction offerings, and a shift toward larger, older properties. Demand remains present, but buyers are taking more time, negotiating more firmly, and showing greater sensitivity to price and condition. The compositional shift toward larger lots also helps explain why the regional average lot size appeared stable even as the core market contracted—an important nuance that becomes visible only when the market is segmented.

Luxury Market (≥ $1M) Scatter Plot

To visualize pricing behavior in the upper end of the detached market, the scatter plot below shows individual sales at or above $1 million across Q1 2026.

Most luxury‑segment sales cluster between $1 million and $2 million, with activity thinning noticeably above $2 million and only a small number of outliers reaching into the $4–6 million range. The distribution remains steady across the quarter, with no visible intra‑quarter trend—consistent with a segment that is active but slower‑moving, shaped more by buyer selectivity and longer marketing times than by rapid shifts in pricing. The wide vertical spread reflects the diversity of the upper market, where property characteristics vary substantially in size, age, and acreage. The mild softening observed in the luxury metrics aligns with what the scatter shows: a functioning but rate‑weighted segment where buyers are taking more time, negotiating more firmly, and concentrating their activity in the lower half of the luxury price band.

Sales Volume

A treemap visualizing the distribution of detached single-family home sales by county in Q1 2026 clearly illustrates the market’s geographic concentration.

Sales volume remains heavily concentrated in the region’s Big Three countiesMultnomah, Washington, and Clackamas—which together account for 90.98% of all detached transactions. Multnomah leads with 36.22% of sales, followed by Washington at 30.34% and Clackamas at 24.43%, forming the structural core of regional activity. The remaining counties—Yamhill, Columbia, and Hood River—collectively contribute less than 10% of sales, and their smaller footprints are clearly visible in the treemap.

This distribution underscores how dependent the detached market is on the Big Three for both volume and trend formation. Regional pricing, tempo, and compositional shifts are shaped primarily by these counties, while the outlying markets play a supporting but comparatively limited role. The treemap also reinforces why segmentation by price tier is essential: even within this dominant tri‑county block, the mix of property types, lot sizes, and buyer profiles varies enough to influence the broader narrative when examined more closely.

The bar chart below compares monthly sales volume across the three months of Q1 for 2025 and 2026.

Monthly activity varied between the two years, but total quarterly volume was nearly identical (3,338 vs. 3,349). January posted the largest difference, with 2026 starting slower (‑119 sales), while February and March both exceeded their 2025 counterparts. March in particular showed a notable lift, adding 117 more sales than the prior year and offsetting January’s deficit. The overall pattern reflects a market that remains active and steady despite rate pressure: timing shifted within the quarter, but the total number of homes changing hands was effectively unchanged. This reinforces the broader theme of Q1 2026—a functional, rate‑weighted market where buyer activity persists even as conditions evolve.

Sales Price

The bar chart below compares monthly average sales prices across the three months of Q1 for 2025 and 2026.

Note: The y-axis starts at $600,000 to allow better examination of monthly differences.

Average prices in January and February 2026 trailed their 2025 counterparts, down 3.9% and 4.4%, respectively. March posted a modest gain of 0.97%, but the improvement was not enough to offset the softer performance earlier in the quarter. The overall pattern reflects a market that began the year under mild price pressure before stabilizing toward the end of the quarter. This aligns with the broader Q1 narrative: steady sales volume, longer marketing times, and modest year‑over‑year softening shaped partly by composition and partly by rate‑driven buyer behavior.

New Construction

The bar graph below shows monthly total detached single-family sales in Q1 2026, with new construction volume nested within each bar to illustrate the portion of sales that were newly built.

New‑construction activity held remarkably steady throughout the quarter, ranging from 12% to 15% of monthly sales and totaling 461 closings, or 13.77% of all Q1 transactions. This consistency indicates that builders are delivering homes at a stable cadence and have adapted effectively to the higher‑rate environment. Even as resale activity fluctuated month to month, new‑construction volume remained a reliable contributor to overall supply, helping to support market stability and providing buyers with fresh inventory options across the region.

New‑construction activity in Q1 2026 landed almost exactly on par with the prior year—461 closings vs. 459, a difference of just two homes. This near‑perfect match is remarkable given the higher‑rate environment and reflects how effectively builders have adapted their pipelines, pricing, and product mix to current conditions.

At the county level, the distribution shifted modestly. Clackamas posted a small gain, Multnomah held perfectly steady, and Washington County—which continues to dominate the region’s new‑construction landscape—remained essentially unchanged with 230 closings, representing nearly half (49.89%) of all new‑construction sales. Smaller counties showed more volatility: Columbia saw a jump from 1 to 9 closings, Hood River recorded a single new‑construction sale, and Yamhill experienced a notable decline.

The dollar value of new construction closings provides additional context on builder activity and investment scale. The table below shows new construction sales volume by dollar amount for Q1 2026 compared with Q1 2025.

CountyQ1 2025 $ AmountQ1 2026 $ Amount% Change% of Total 2026 $ Amount
Clackamas$111,923,639$103,211,227-7.78%4.68%
Columbia$590,000$4,716,300699.37%0.21%
Hood River$0$514,0000.02%
Multnomah$41,125,069$36,451,666-11.36%1.65%
Washington$178,646,937$157,578,442-11.79%7.14%
Yamhill$19,039,763$15,075,863-20.82%0.68%
Sum$351,325,408$317,547,498-9.61%14.38%
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

The following double bar chart provides the above information at a glance.

Even though the number of new‑construction closings in Q1 2026 nearly matched the prior year, total dollar volume declined by 9.61%. This reflects a meaningful shift in the mix of what builders delivered. The upper end of the market retreated this quarter, and because luxury new‑construction homes typically carry price points roughly double those of core‑market builds, the reduction in high‑value deliveries had an outsized impact on total dollars.

Washington County—still the region’s dominant new‑construction hub—saw an 11.79% decline in dollar volume despite only a slight dip in unit count. Clackamas and Multnomah posted similar declines, while Yamhill experienced a sharper drop. Smaller counties showed volatility in percentage terms, but their absolute dollar contributions remain minimal.

The overall pattern shows that builders maintained production levels but shifted toward more moderately priced offerings, resulting in a lower aggregate dollar footprint even as total units held steady. This aligns with the broader Q1 dynamic: the luxury segment softened, and that softness reflected directly in the new‑construction dollar totals.

Cumulative Days on Market

The bar chart below compares average cumulative days on market (CDOM) across the three months of Q1 for 2025 and 2026.

Marketing time increased across all three months, with January up 7.9%, February up 16.9%, and March up 11.2% compared with the prior year. The consistent rise reflects a market where buyers remain active but more deliberate, taking longer to commit as elevated rates continue to shape decision‑making. While sales volume held steady quarter over quarter, the longer exposure times indicate that sellers needed more patience in Q1 2026, and that homes generally required additional time to find the right match.

The bar chart below breaks out average CDOM by market segment for the three months of Q1 2026, comparing core (< $1M) and luxury (≥ $1M) properties.

Across all three months, luxury homes required substantially more time to sell, with differences ranging from 42 to 85 days. In January, the gap was widest—luxury listings averaged 166 days on market compared with 81 days for core‑market homes, a spread of nearly three months. February and March showed similar patterns, with luxury homes consistently taking 1.5 to 2.5 months longer to secure a buyer. This disparity reflects the natural dynamics of the upper market, where higher price points, specialized features, and a smaller buyer pool contribute to longer marketing times even in steady conditions.

HOA Dues

While HOA dues are not a defining feature of the detached‑home market, they are far from rare. More than a quarter of all detached sales in Q1 2026 were located in communities with mandatory dues.

CategoryQ1 2025Q1 2026
# of HOA Sales860879
Total Sales3,3383,349
% of Market25.76%26.25%
HOA dues count are sales reporting nonzero HOA dues.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

The share of detached homes with HOA dues edged slightly higher this year, rising to 26.25% of all sales. This reflects the continued prevalence of master‑planned communities, private streets, and shared‑amenity neighborhoods across the region—especially in newer suburban developments. While dues for detached homes are generally modest, they represent a persistent monthly expense for a meaningful portion of buyers and remain an important part of the carrying‑cost profile for these properties.

The bar chart below compares average monthly HOA dues (for reporting sales) for Q1 2025 and Q1 2026:

Average HOA dues for detached homes remained relatively modest across all counties, with most falling between $50 and $75 per month. Year‑over‑year changes were small and mixed: some counties saw slight decreases, while others posted mild increases. These shifts reflect normal variation in community‑level budgeting rather than any broad regional trend. Although detached‑home dues are a fraction of those seen in the attached and condominium segments, they remain a consistent monthly obligation for more than a quarter of buyers and continue to shape affordability at the margins.

Miscellaneous Statistics & Standout Transactions

A few notable extremes and outliers from Q1 2026 illustrate the wide range of value drivers across the six-county region.

Lowest close price: $135,000—a 1963 fixer in Lafayette (Yamhill County). Not much information was given, but tax records show it was sold to an LLC, so the site may be redeveloped. Exterior photos of this property are currently available online.

Highest close price: $5,725,950—a 1990 lakefront estate in Lake Oswego (Clackamas County). The custom-built residence features high-quality finishes, a swimming pool, and excellent views of the Lake. Photos of this property are currently available online.

Smallest Home: 485 sq. ft.—a 1946 cabin in Hood River County. The property was habitable at the time of sale. Given the two-acre lot, the cabin may be eventually demoted to an ADU and a larger residence built. Photos of this property are currently available online.

Largest Home: 8,913 sq. ft.—a 1999 estate home in Portland’s Forest Park neighborhood. The property is situated on a private, forested 10-acre lot and offers expansive rooms. Photos of this property are currently available online.

Largest Lot: 103.62 Acres—a 2008 custom home in Vernonia (Columbia County). The property is located along the Nehalem River and has a half mile of frontage. The property was used as an inn in the past. Photos of this property are currently available online.

Longest CDOM: 1,259 days—a $1.9M listing in Happy Valley (Clackamas County) that closed at $1.7M. The 2005 home is 7,070 sq. ft. and is located in a gated community. Photos of this property are currently available online.

These outliers demonstrate that detached single-family home ownership in the Portland Region can begin around $135,000 for buyers who are patient, flexible, and prepared to address condition or location factors. They stand in contrast to the region’s severely strained affordability.

With the regional aggregate trends, segment splits, monthly patterns, and notable outliers now in view, the remainder of this update turns to a county-level breakdown. The following sections present year-over-year comparisons for each of the six counties in the Portland Region—Multnomah, Washington, Clackamas, Yamhill, Columbia, and Hood River—ordered by Q1 2026 sales volume descending. Each county snapshot includes key metrics, commentary on local drivers, and any segment-specific observations that help explain broader regional patterns.

Multnomah County Q1 2026 Stats

The table below summarizes key metrics for Multnomah County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$756.1 Million$740.9 Million-2.02%
Average Price$624,914$610,761-2.26%
Median Price$540,000$525,000-2.78%
Avg SP/OLP97.82%97.57%-0.25%
Avg PPSF (TSF)$318.13$313.92-1.33%
Avg HOA Dues$58.52$66.21+13.15%
Avg Lot Size (ac)0.230.29+28.18%
Avg Age (Yrs)67.1867.79+0.91%
Avg CDOM65.8967.13+1.88%
Avg Total SF2,0662,057-0.44%
Total # of Sales1,2101,213+0.25%
# of New Constr.66660.00%
# of REOs921+133.33%
# of Short Sales660.00%
Average PABAI75.1385.58+13.91%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Multnomah County was one of the most stable submarkets in the region this quarter. Total sales were essentially unchanged (1,210 → 1,213), and average cumulative days on market held nearly flat (65.9 → 67.1 days). This is notable because the broader region saw a more pronounced slowdown in tempo; Multnomah’s size and liquidity helped keep marketing times steady even as rates remained elevated.

Prices softened modestly across all major measures. Average price (‑2.26%), median price (‑2.78%), and PPSF (‑1.33%) all moved in the same direction and by similar magnitudes, reflecting mild, rate‑weighted pressure rather than any structural shift in demand. The increase in average lot size (0.23 → 0.29 acres, +28%) appears to be a compositional change rather than a land‑value story, as it did not prevent prices from easing.

New construction held perfectly steady at 66 closings, a rare outcome among the counties and a sign of a stable, predictable supply pipeline. REOs increased from 9 to 21, but the absolute number remains very small—just 1.7% of all sales—so this does not indicate distress.

Affordability improved meaningfully. Multnomah’s PABAI rose from 75.13 to 85.58, a 13.9% gain, driven largely by slightly better mortgage rates and income growth. Even with this improvement, Multnomah remains less affordable than the regional average (80.47), reflecting its higher baseline pricing and urban cost structure.

The scatter plot of all Multnomah County sales in Q1 2026 reinforces these themes:

Most sales cluster below $1 million, with a consistent spread across the quarter and only a small number of outliers above $2 million. There is no visible intra‑quarter trend or volatility spike—just a steady, well‑distributed flow of transactions. This visual stability mirrors the metrics: Multnomah continues to function as the region’s most liquid and predictable submarket, with steady demand, steady tempo, and only mild softening at the margins.

Washington County Q1 2026 Stats

The table below summarizes key metrics for Washington County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$697.4 Million$665.7 Million-4.55%
Average Price$678,423$655,226-3.42%
Median Price$638,950$604,250-5.43%
Avg SP/OLP97.54%96.86%-0.70%
Avg PPSF (TSF)$318.99$307.81-3.50%
Avg HOA Dues$70.55$70.98+0.61%
Avg Lot Size (ac)0.410.33-19.46%
Avg Age (Yrs)30.0030.11+0.34%
Avg CDOM72.4479.97+10.39%
Avg Total SF2,2112,198-0.58%
Total # of Sales1,0281,016-1.17%
# of New Constr.233230-1.29%
# of REOs17+600.00%
# of Short Sales41-75.00%
Average PABAI66.0376.94+16.51%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Washington County showed a mild but noticeable softening in Q1 2026, with most metrics drifting slightly lower while overall activity remained stable. Total sales dipped only marginally (1,028 → 1,016, ‑1.17%), but the county experienced a more meaningful increase in marketing time: CDOM rose from 72.4 to 80.0 days (+10.39%). This was a larger tempo shift than in Multnomah and reflects a market where buyers took longer to commit, particularly in the mid‑tier price ranges.

Prices declined across all major measures. Average price (‑3.42%), median price (‑5.43%), and PPSF (‑3.50%) all moved downward in a coordinated way, indicating broad, rate‑weighted softening rather than a compositional anomaly. The sharper decline in median price suggests that the lower and middle segments of the market felt more pressure—a pattern consistent with the employment uncertainty tied to Intel’s layoffs, which disproportionately affect Washington County’s buyer pool.

Average lot size decreased from 0.41 → 0.33 acres (‑19.46%), which contributed to the price movement but does not fully explain it. Most other structural metrics—home size, age, HOA dues, and new‑construction volume—were essentially unchanged. New construction in particular held steady (233 → 230), reinforcing Washington County’s role as the region’s largest and most consistent builder hub.

Affordability improved meaningfully. Washington’s PABAI rose from 66.03 to 76.94, a 16.5% increase, driven by slightly better mortgage rates and income growth. Even so, the county remains less affordable than the regional average (80.47), reflecting its higher baseline pricing and strong demand for newer suburban housing.

The scatter plot reinforces these themes: a dense cluster of sales between $500k and $900k, a thinner upper tier, and a handful of outliers above $1.5M. There is no visible intra‑quarter trend — just steady, slightly slower activity. Overall, Washington County remained functional and active, but with softer pricing and a more deliberate buyer pace than last year.

The following is a scatter plot of all Washington County sales in Q1 2026:

The scatter plot reveals a dense cluster of sales between $500k and $900k, a thinner upper tier, and a handful of outliers above $1.5M. There is no visible intra‑quarter trend—just steady, slightly slower activity. Overall, Washington County remained functional and active, but with softer pricing and a more deliberate buyer pace than last year.

Clackamas County Q1 2026 Stats

The table below summarizes key metrics for Clackamas County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$607.5 Million$620.5 Million+2.13%
Average Price$796,232$758,529-4.74%
Median Price$644,000$637,283-1.04%
Avg SP/OLP96.64%96.51%-0.13%
Avg PPSF (TSF)$331.32$331.56+0.07%
Avg HOA Dues$82.72$71.50-13.56%
Avg Lot Size (ac)1.050.91-14.12%
Avg Age (Yrs)36.9936.64-0.97%
Avg CDOM73.2994.03+28.29%
Avg Total SF2,4002,358-1.71%
Total # of Sales763818+7.21%
# of New Constr.120128+6.67%
# of REOs48+100.00%
# of Short Sales13+200.00%
Average PABAI64.2272.51+12.91%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Clackamas County was one of the few counties to post an increase in total dollar volume this quarter, rising 2.13% year over year. This wasn’t driven by higher prices—average and median prices both dipped—but rather by more sales overall (763 → 818, +7.21%). Clackamas was one of the most active counties in Q1, and that higher transaction count helped offset modest price softening.

Prices declined in a way that clearly reflects compositional changes rather than value erosion. Average price fell 4.74%, but PPSF held almost perfectly flat ($331.32 → $331.56, +0.07%). At the same time, both average home size (‑1.71%) and average lot size (‑14.12%) decreased. This combination tells a consistent story: the mix shifted toward smaller homes on smaller parcels, pulling down the averages even as underlying price per square foot remained stable.

Marketing time increased sharply. Average CDOM rose from 73.3 to 94.0 days (+28.29%), one of the largest tempo shifts in the region. Buyers were more deliberate, and sellers needed more patience—especially in the upper‑end segments, which tend to be more sensitive to rate conditions and seasonal timing.

New construction increased (120 → 128, +6.67%), reinforcing Clackamas County’s role as a growth corridor with steady builder activity. REOs and short sales rose in percentage terms but remain extremely small in absolute numbers and do not indicate distress.

Affordability improved but remains strained. Clackamas’ PABAI rose from 64.22 to 72.51 (+12.91%), yet the county remains one of the least affordable in the region, driven in part by the presence of high‑value submarkets such as Lake Oswego and West Linn. One important feature of the PABAI is that it’s not strongly influenced by outliers. Since the index averages affordability ratios across every sale—not just a median price—high‑end transactions have only a muted effect on the final number. This makes county‑to‑county comparisons more stable and meaningful.

The following is a scatter plot of all Clackamas County sales in Q1 2026:

The following scatter plot zooms in on sales below $1,000,000:

The scatter plots reinforce these themes. Most sales cluster below $1M, with a healthy mid‑range and a handful of very high‑end outliers extending above $5M. There is no visible intra‑quarter trend—just steady activity across a wide price spectrum. The visual spread mirrors the metrics: active and stable, with price softening driven primarily by mix rather than market weakness.

Yamhill County Q1 2026 Stats

The table below summarizes key metrics for Yamhill County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$127.4 Million$120.4 Million-5.47%
Average Price$571,125$611,154+7.01%
Median Price$485,000$499,500+2.99%
Avg SP/OLP97.43%95.07%-2.42%
Avg PPSF (TSF)$312.30$311.90-0.13%
Avg HOA Dues$56.43$52.70-6.61%
Avg Lot Size (ac)1.622.22+36.85%
Avg Age (Yrs)36.0936.83+2.04%
Avg CDOM84.09100.55+19.57%
Avg Total SF1,8661,956+4.82%
Total # of Sales223197-11.66%
# of New Constr.3927-30.77%
# of REOs110.00%
# of Short Sales03
Average PABAI86.3593.13+7.85%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Yamhill County experienced one of the sharper slowdowns in sales activity this quarter. Total transactions fell from 223 → 197 (‑11.66%), which in turn pulled total dollar volume down 5.47%. Yet despite fewer sales, both average and median prices increased—a signal that the mix shifted toward larger, higher‑acreage properties rather than broad‑based appreciation.

That mix shift is visible in the structural metrics. Average lot size rose dramatically (1.62 → 2.22 acres, +36.85%), and average home size increased as well (1,866 → 1,956 SF, +4.82%). PPSF, however, remained essentially unchanged (‑0.13%), confirming that underlying values were stable and that the higher averages were driven by the types of homes selling, not by rising prices across the board.

Marketing time lengthened meaningfully. Average CDOM climbed from 84.1 to 100.6 days (+19.57%), crossing the 100‑day threshold and signaling a slower, more deliberate market. This is typical for rural counties with a wide range of property types and a thinner buyer pool, especially when larger acreage properties dominate the quarter’s activity.

New construction declined sharply (39 → 27, ‑30.77%), one of the steepest drops in the region. This reflects fewer subdivision deliveries and a shift toward resale activity on larger parcels. REOs and short sales remain negligible in number and do not indicate distress.

Affordability improved modestly. Yamhill’s PABAI rose from 86.35 to 93.13 (+7.85%), placing it among the more affordable counties in the region—well above the regional average (80.47). This aligns with its lower baseline pricing and rural character, even as larger properties influenced this quarter’s mix.

The following is a scatter plot of all Yamhill County sales in Q1 2026:

The following scatter plot zooms in on sales below $1,000,000:

Most sales cluster below $1M, with a handful of high‑end outliers reaching into the multi‑million‑dollar range. The distribution is wide, typical of a rural county with diverse housing stock. Overall, Yamhill’s Q1 performance reflects fewer sales, larger properties, stable underlying values, and a slower market tempo.

Columbia County Q1 2026 Stats

The table below summarizes key metrics for Columbia County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$48.48 Million$44.83 Million-7.52%
Average Price$484,812$521,336+7.53%
Median Price$468,500$471,350+0.61%
Avg SP/OLP95.43%96.11%+0.71%
Avg PPSF (TSF)$278.74$275.14-1.29%
Avg HOA Dues$26.37$35.20+33.46%
Avg Lot Size (ac)2.093.54+69.41%
Avg Age (Yrs)47.3439.91-15.70%
Avg CDOM96.5681.29-15.81%
Avg Total SF1,8801,952+3.79%
Total # of Sales10086-14.00%
# of New Constr.19+800.00%
# of REOs12+100.00%
# of Short Sales01
Average PABAI92.74100.27+8.12%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Columbia County remains the smallest and most variable market in the region, and that scale is essential context when interpreting quarterly changes. Total sales fell from 100 → 86 (‑14%), which alone explains the decline in total dollar volume (‑7.52%). With so few transactions, even modest shifts in the types of homes selling can move averages more than in the larger counties.

That mix shift is clearly visible this quarter. Average lot size increased dramatically (2.09 → 3.54 acres, +69.41%), and average home size rose as well (1,880 → 1,952 SF, +3.79%). These structural changes helped lift the average sale price by 7.53%, even though PPSF declined slightly (‑1.29%) and median price barely moved (+0.61%). This is a textbook example of how acreage‑heavy quarters can buoy averages without indicating broad appreciation.

Interestingly, Columbia was one of the few counties where marketing time improved. Average CDOM fell from 96.6 to 81.3 days (‑15.81%), suggesting that the buyers who were active in Q1 were decisive, even as overall activity thinned. The county also saw a notable increase in new construction closings (1 → 9), though the absolute numbers remain too small to draw structural conclusions.

Affordability remains Columbia County’s defining characteristic. Its PABAI rose from 92.74 to 100.27, making it the most affordable county in the region by a wide margin and the only one with a PABAI above 100. This reflects its lower baseline pricing, rural character, and the relative absence of high‑cost submarkets.

The following is a scatter plot of all Columbia County sales in Q1 2026:

The scatter plot reinforces the small‑market dynamics. Most sales cluster below $600k, with a handful of outliers extending upward. The distribution is wide but thin, typical of a rural county with diverse property types and limited transaction volume. Overall, Columbia’s Q1 performance reflects fewer sales, larger properties, stable underlying values, and the strongest affordability profile in the region.

Hood River County Q1 2026 Stats

The table below summarizes key metrics for Hood River County detached single-family residential sales in Q1 2026 compared with Q1 2025.

CategoryQ1 2025Q1 2026% Change
Total $ Volume$11.06 Million$15.38 Million+39.03%
Average Price$790,029$809,316+2.44%
Median Price$654,200$745,000+13.88%
Avg SP/OLP93.64%92.61%-1.11%
Avg PPSF (TSF)$420.77$480.64+14.23%
Avg HOA Dues$41.66$27.08-35.00%
Avg Lot Size (ac)1.851.12-39.43%
Avg Age (Yrs)62.3635.00-43.87%
Avg CDOM153.86120.11-21.94%
Avg Total SF1,9591,928-1.62%
Total # of Sales1419+35.71%
# of New Constr.01
# of REOs01
# of Short Sales00
Average PABAI60.8664.79+6.46%
HOA figures are for homes reporting nonzero dues. All other metrics use the full dataset.
Single-Family Detached Residential | Q1 2025 & Q1 2026
Data: RMLS | PortlandAppraisalBlog.com

Hood River County is by far the smallest market in the region, and that scale shapes how its quarterly metrics should be interpreted. With only 19 sales this quarter, even a handful of transactions can meaningfully shift averages. For that reason, the most appropriate approach here is to report the changes rather than infer broad trends.

Total sales increased from 14 → 19 (+35.71%), and total dollar volume rose proportionally (+39.03%). Average and median prices both increased—average price by 2.44% and median price by 13.88%—but these movements reflect the specific mix of homes that sold rather than market‑wide appreciation. The structural metrics confirm this: homes sold this quarter were younger on average (62.4 → 35.0 years, ‑43.87%) and sat on much smaller lots (1.85 → 1.12 acres, ‑39.43%). These shifts alone can easily move median and average prices in a small dataset.

Price per square foot increased ($420.77 → $480.64, +14.23%), but again, with so few sales, this reflects the characteristics of individual properties rather than a reliable directional signal. Average home size was nearly unchanged (‑1.62%), reinforcing that PPSF is being influenced by the composition of the sales rather than broad pricing pressure.

Marketing time improved meaningfully. Average CDOM fell from 153.9 to 120.1 days (‑21.94%), though both figures remain high relative to the metro counties. This is typical for a small, rural, and lifestyle‑driven market where unique properties take longer to match with the right buyer.

Affordability improved modestly. Hood River’s PABAI rose from 60.86 to 64.79 (+6.46%), but because the county had only 19 sales, this value should be interpreted with caution. The index is most reliable in segments with at least 20–30 transactions, and Hood River’s small sample size means quarterly fluctuations may reflect mix rather than underlying affordability conditions. PABAI is generally more meaningful for this county on a semi‑annual or annual basis.

The following is a scatter plot of all Hood River County sales in Q1 2026:

The scatter plot reinforces the small‑sample dynamics. Prices vary widely from sale to sale, with a handful of higher‑priced transactions early in the quarter and a cluster of mid‑range sales later on. There is no meaningful intra‑quarter trend—just the natural variability of a market with very few transactions.

Closing Thoughts

Taken together, the first quarter of 2026 reads as a softer, more composition‑driven period for the Portland region. Most counties posted lower dollar volume than last year, and even where prices held steady, the underlying story often came down to the types of homes that sold rather than broad market movement. Smaller homes and smaller lots were more common in several counties, while others saw the opposite—larger rural properties that lifted averages despite thinner activity. Across the board, the data shows a market that is functioning, but not accelerating.

The core and luxury segments reinforced this pattern. The sub‑$1M market slipped modestly, shaped largely by mix and by buyers who remained price‑sensitive despite slightly better mortgage rates. The luxury market, meanwhile, saw a sharper pullback, driven in large part by a steep decline in new construction closings. With fewer high‑end builds delivering, luxury volume contracted and marketing times lengthened, underscoring how sensitive the upper tier remains to both rates and inventory cycles.

Affordability improved across all counties, but not enough to materially change behavior. Buyers were active but deliberate, sellers needed more patience, and the region continued to operate in a narrow band between stability and constraint. Q1 wasn’t a dramatic quarter—just a quieter one, shaped by rate‑sensitivity, local variation, and the ongoing influence of what sells in any given slice of time. As we move into the spring and summer markets, the question is less about momentum and more about whether mortgage rates will continue to weigh upon the market.

What trends do you expect to see in Q2 2026? I’d love to hear your thoughts—feel free to reply here or reach out directly.

Sources & Further Reading

All data presented in this quarterly update is sourced directly from RMLS and has been subjected to our rigorous cleaning and validation process to ensure reliability for detached single-family residential analysis in the six-county Portland Region. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Coda

Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

Appraisal Deep Dive: The Ritz‑Carlton Residences, Portland — A Case Study in a Well‑Managed Turnaround (2026)

The Ritz-Carlton reset worked: after a year of no activity, 36 sales closed in the first five months of 2026 at 100% of their post-reset list price. With 85 units still unsold, the luxury tower is transitioning from an initial surge of pent-up demand to more typical, organic absorption conditions in the downtown Portland luxury condo market.

The Ritz-Carlton, Portland hotel and Ritz-Carlton Residences
Photo: Via Wikimedia Commons (CC BY 4.0)

The Ritz‑Carlton Residences, Portland entered 2026 under a cloud of uncertainty. Between November 9, 2023 and February 28, 2025, only 11 units had sold—as detailed in a prior Portland Appraisal Blog analysis—and the project had become the subject of sustained media attention focused on stalled absorption, unresolved structural questions, and the perception that the tower was struggling to gain traction in a challenging downtown environment. The situation escalated when the property underwent a transfer in lieu of foreclosure, adding another layer of complexity to an already difficult narrative.

By early 2026, the building carried 121 unsold units, and the market for new‑construction luxury condominiums in the central city appeared effectively frozen. With no closings for roughly a year, the project was beginning to resemble a potential failure: a high‑profile development facing a large block of inventory, limited buyer confidence, and widespread uncertainty about how—or whether—the remaining units could be absorbed.

This was the backdrop against which Christie’s International Real Estate assumed responsibility for the remaining inventory. The central question was whether a disciplined strategy could revive a project that had stalled so completely.

Turnaround Challenge

Christie’s International Real Estate assumed responsibility for the remaining inventory at The Ritz‑Carlton Residences, Portland at a moment when the project faced significant headwinds. Although the brokerage network originated as a subsidiary of the Christie’s auction house, it is now independently owned and operates under a long‑term, exclusive brand‑licensing partnership with the auction house. According to the organization’s official website, the network spans more than 50 countries, includes 518 brokerage offices, and comprises over 11,000 agents.

Its Portland affiliate, Christie’s International Real Estate Evergreen – Portland, is based in the Pearl District and has been tasked with directing the turnaround efforts. Per their website, the local team was “founded by longtime top‑producing brokers…with deep roots in Oregon and Southwest Washington.” This combination of local experience and access to a global luxury network positioned the firm to manage a complex, high‑end inventory release in a challenging market environment.

The task was no minor undertaking. Their job was to reintroduce a project that had gone quiet, rebuild buyer confidence, and manage the release of a large block of inventory without destabilizing pricing or overwhelming the market.

The data from the first half of 2026 now provides a clear picture of how that effort unfolded and why the results amount to a well‑managed turnaround.

Ritz-Carlton Performance Snapshot

MetricPre-Reset (2023-2025)Post Reset (2026 – Present)
Units Sold1136
Cancelled Listings1032
Total $ Value$16,504,000$42,362,500
Average Sales Price$1,500,364$1,176,736
Median Sales Price$1,100,000$1,140,000
Average PPSF$1,052.73$732.01
Median PPSF$944.20$693.09
Average Total SF1,3631,577
Average SP/OLP84.48%100.00%
Average CDOM24.5510.25
Data: RMLS | Portland Appraisal Blog

The metrics reveal a clear shift in market behavior at The Ritz‑Carlton Residences following the ownership transition and pricing reset. From 2023 through the end of 2025, the project recorded 11 closed sales against 103 cancelled listings, a pattern consistent with pricing misalignment and limited buyer engagement. In contrast, from January through May 31, 2026, the building produced 36 closings with only two cancellations, indicating a market that re‑engaged once pricing and release strategy were realigned.

This shift is visible across all major indicators. Average sale price declined from $1,500,364 to $1,176,736, while median sale price remained relatively stable at approximately $1.1–$1.14 million. The more pronounced change appears in price per square foot: average PPSF fell from $1,052.73 to $732.01 (median PPSF from $944.20 to $693.09), reflecting the magnitude of the pricing adjustment required to achieve consistent absorption. Post‑reset transactions also show a much tighter clustering between average and median values, suggesting a more uniform product mix and a consistent buyer pool.

Other measures point to improved market efficiency. Sales price to original list price (SP/OLP) performance increased dramatically to 100%, and cumulative days on market (CDOM) compressed from 24.55 days to 10.25 days. (This uniform 100% SP/OLP outcome across all 36 sales is noteworthy; it suggests the brokerage team made a deliberate decision to set disciplined, market‑supported list prices from the outset and hold firm rather than engage in incremental negotiations or further reductions.) Units sold in 2026 also trend noticeably larger on average (1,577 SF vs. 1,363 SF pre‑reset). This shift in unit mix appears to have helped stabilize median sale prices near $1.14 million despite the substantial reduction in PPSF—effectively offering buyers more space while managing the optics of the pricing reset.

From an appraisal perspective, the post‑reset period provides a more reliable body of closed sales for market‑supported valuation. With nearly $59 million in closed condominium sales to date, the dataset is now large enough to support meaningful paired‑sales analysis, PPSF benchmarking, and broader comparison within the downtown Portland luxury segment. The reduction in cancelled listings, the convergence of average and median pricing, and the consistent SP/OLP ratios all indicate improved conformity and sharpens analytical reliability relative to the pre‑reset period.

This snapshot establishes the foundation for the sections that follow, including the relationship between pricing and square footage, the building’s unusually consistent SP/OLP discipline, and the timing patterns visible in listing activity and days on market.

Market Behavior Visuals

The following visuals illustrate how the pricing reset, release strategy, and absorption patterns played out in real time. Each chart highlights a different dimension of the repositioning—from the relationship between sales price and unit size, to the building’s pricing discipline, to the cadence of listings and the timing of contract activity. Taken together, these visuals provide a clearer picture of how the project moved from stalled activity to consistent, market‑supported absorption.

Sales Price vs. Total Square Footage

The scatter plot above highlights one of the clearest contrasts between the pre‑reset and post‑reset market. The original 11 sales (shown in red with a yellow highlight, and sized by total square footage) follow a notably tight linear relationship between unit size and sales price. This indicates that the initial pricing model was internally consistent and size‑driven, but ultimately too high to close more than 11 units over roughly two years. In other words, the pricing logic made sense on paper, but the broader market did not accept the level.

The 2026 sales (shown in gray, also sized by total SF) tell a different story. Rather than forming a straight line, they create a broader vertical band—primarily between 1,400 and 1,800 square feet—with similar‑sized units selling at different prices. This dispersion reflects buyers pricing in floor level, view orientation, and other qualitative attributes. That pattern is exactly what we expect in a more typical, functioning condominium market. When qualitative differences don’t influence price, it usually signals that something is suppressing normal market behavior—precisely the condition present during the pre‑reset period.

Two larger 2026 sales—approximately $2.6M and $2.8M—sit above the main cluster yet remain aligned with the overall trendline. Their presence demonstrates that the premium segment remained viable after the reset; the repositioning did not cripple the upper tier, it simply recalibrated the broader pricing structure to levels the market would reliably absorb.

Overall, the visual shows a clear transition:

  • Pre‑reset: linear, size‑driven pricing with low absorption
  • Post‑reset: market‑derived pricing with healthy variation and strong absorption

This shift sets the stage for the next section on pricing discipline, where we examine how the brokerage held firm on list prices across all 36 post‑reset sales.

Pricing Discipline — 36/36 at 100% SP/OLP

The SP/OLP visuals highlight one of the clearest outcomes of the repositioning: all 36 post‑reset sales closed at 100% of the original list price. This consistency reflects both strong market acceptance and the brokerage team’s research‑driven pricing strategy. The team clearly entered the reset with a well‑supported understanding of where the market would perform, allowing them to hold firm on pricing from the outset. Whether later phases will require adjustments is unknown, but the first 36 sales demonstrate a deliberate intent to maintain pricing discipline during the initial release.

The SP/OLP ratio chart shows the contrast with the pre‑reset period. Earlier transactions cluster in the 70%–90% range, reflecting the degree of price capitulation required to secure the first 11 closings. This wasn’t about concessions in the technical sense—both periods were heavily cash‑driven (9 of 11 pre‑reset sales and 27 of 36 post‑reset sales). Instead, the gap simply reflects how far the original list prices exceeded market‑supported levels.

The dollar‑difference chart reinforces this point. Several pre‑reset units closed $300,000 to $800,000 below their original list prices, underscoring the magnitude of the pricing gap. Post‑reset, this gap disappears entirely. The absence of downward movement across all 36 sales indicates a stable, market‑derived pricing structure rather than one reliant on reductions or incentives.

Together, these visuals show how the reset replaced a high‑price, low‑absorption model with a calibrated pricing framework that the market consistently supported. This pricing stability provides essential context for the next section, where the DOM and List‑Date scatter reveals how absorption patterns evolved under the new strategy.

Simple Graph, Surprisingly Complex Story (DOM vs. List Date)

The DOM vs. List Date scatter is simple in what it displays—each dot shows when a unit was listed, how long it remained on the market, and whether it ultimately closed or is still active (gray = closed, orange = active/pending). Dot size reflects total square footage. But when paired with the weekly release table, the graph reveals the entire structure of the post‑reset absorption cycle.

Week ListedTotal ListingsEventual SalesStill Active or Pending
11/17/2025101
2/16/20261468
2/23/2026871
3/2/2026220
3/9/202615123
3/16/2026220
3/23/2026440
4/6/2026110
4/13/2026211
4/20/2026101
5/18/2026211
5/25/2026202
Totals543618
Data: RMLS | Portland Appraisal Blog

1. The scatter shows listing timing, not closing timing

Each point marks the day a unit entered the market and how long it remained exposed. It does not show when the sale closed. This distinction matters because the brokerage’s release cadence—not the closing dates—is what shapes the pattern.

2. The release table shows how supply entered the market

The brokerage released units in deliberate batches:

  • 14 units the week of 2/16
  • 8 units the week of 2/23
  • 2 units the week of 3/2
  • 15 units the week of 3/9

After more than a year with no closings, the market had accumulated substantial pent‑up demand. The brokerage met that demand with a controlled, phased release rather than flooding the market.

3. DOM for closed sales was remarkably range‑bound

This is one of the most important reads from the scatter.

The gray dots—the units that did sell—cluster within a tight, normal DOM range for a luxury product at this price point. Their DOM reflects typical exposure time, not distress or stagnation.

The high‑DOM outliers are almost entirely unsuccessful listings (orange dots). Their height on the chart represents the number of days from their list date through the date of analysis (June 1, 2026). These are the units that remain active or pending, not the ones that closed.

This distinction matters:

  • Successful listings: normal, range‑bound DOM
  • Unsuccessful listings: high DOM because they are still on the market

This pattern reinforces that the early waves did sell efficiently and that the scatter’s tallest points are simply the unsold remainder of each release cycle.

4. After 3/28, absorption slows for newly released units—but closings continue overall

Only three of the units released after 3/28 have closed so far. This marks the transition from the pent‑up demand phase to the organic‑demand phase, where absorption naturally slows as the backlog of waiting buyers is satisfied.

However, this does not mean the project stopped closing units. Actual closings—regardless of list date—continued into May, with seven closings in May.

This distinction is important:

  • Release‑cohort absorption slowed (only 3 of the later‑listed units have closed).
  • Overall project absorption remained active, just thinner and more typical of a luxury market returning to normal conditions.

The scatter shows this shift: later list dates contain fewer gray dots (closings) and more orange dots (active/pending).

5. No new releases between 4/22 and 5/19

This pause appears in the scatter as a gap in new list dates. The brokerage held back because each release cycle left behind a small number of active units. As absorption slowed, adding more supply would have risked creating drag.

6. Residual inventory is now accumulating — the sensitive phase

There are now 17 active units (plus one pending likely to close). With only 47 of 132 units sold to date, the project still has 85 units remaining.

The scatter shows this clearly:

  • Each release cycle leaves a few units unsold.
  • Those unsold units accumulate as the market shifts into organic demand.
  • DOM for active units is rising—not because pricing is off, but because the buyer pool is no longer front‑loaded with people who have been waiting a year.

This is the expected pattern for a luxury high‑rise after a reset: fast absorption early, slower absorption later, and increasing sensitivity to release timing. With 17 active units (the part of 85 unsold that is currently exposed to the market), the project is entering a more sensitive phase where release timing and inventory management will matter more than during the initial surge.

Concluding Thoughts — A Reset That Worked, and the Phase That Comes Next

The Ritz-Carlton, Portland hotel and Ritz-Carlton Residences
Photo: Via Wikimedia Commons (CC BY 4.0)

The post‑reset performance of the Ritz‑Carlton Residences shows a project that successfully re‑entered the market with a pricing structure the market was willing to absorb. The Sales Price vs. Total SF analysis demonstrated that the reset restored a functioning market where qualitative differences once again influenced price. The SP/OLP discipline confirmed that the brokerage team priced the units with precision, holding firm at 100% SP/OLP across all 36 post‑reset sales—an outcome that reflects both strong market acceptance and a research‑driven pricing strategy.

The DOM vs. List Date scatter then revealed how absorption actually unfolded. The initial release cadence met more than a year’s worth of pent‑up demand, clearing nearly 70% of early listings and producing normal, range‑bound DOM for the units that closed. As the market transitioned into organic demand, absorption naturally slowed, and residual inventory began to accumulate. With 17 active units and 85 still unsold, the project now enters a more sensitive phase where release timing, inventory management, and continued pricing discipline will matter more than during the initial surge.

Taken together, these visuals tell a coherent story:

  • The reset corrected the pricing structure.
  • The brokerage executed a disciplined, data‑supported launch.
  • The market responded strongly at first, then settled into a more typical luxury‑market rhythm.

The project is no longer in the “reset” phase; it is now in the management phase, where the remaining 85 units will require careful pacing to maintain the stability achieved so far. The early results show that the repositioning worked. The next chapter will depend on how effectively the team navigates the slower, more organic portion of the absorption curve.

Sources & Further Reading

Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

CODA

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

The 2025 Portland Region Manufactured Homes Market in Review

In 2025, Portland Region manufactured homes on owned land rebounded with 315 sales (+14.13%), $148.4M volume (+16.25%), average price $471,014 (+1.86%), and median $435,000 (+3.82%). Rural counties dominated, land value drove stability, and PABAI ranked it the second-most affordable housing segment (111.67).

The Portland White Stag sign.
Photo: Abdur Abdul-Malik, Portland Appraisal Blog

The manufactured‑home market in 2025 moved through a year defined by steadier demand, uneven inventory, and a noticeable shift in how long homes took to find the right buyer in some counties. Manufactured homes remain the second most affordable ownership segment in the Portland Region, right after condominiums. Yet the contrast between the two couldn’t be more stark: a condominium typically offers an apartment in an urban core with monthly dues and shared maintenance, while a manufactured home often delivers acreage in rural or pastoral settings—sometimes in remote locales.

Across the Portland Region, roughly 21,400 homes sold in 2025 across the four major residential segments. Manufactured homes accounted for less than 1.5% of that activity, but they continued to play a meaningful role in the market—often representing one of the few affordable paths to owning acreage.

Table of Contents

Data Housekeeping

The Portland Region in this update comprises the six Oregon counties of Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill. These counties form a contiguous housing ecosystem centered on Portland—Multnomah as the core home county, with the others tightly integrated through commuting patterns, economic ties, and shared market dynamics (e.g., Yamhill’s strong connection via Highway 99W and wine-country adjacency). Beyond Yamhill, the MLS system changes, further distinguishing this six-county area from broader geographic aggregations. For a detailed overview—including county profiles, population data, key value influencers, and why this definition differs from the official seven-county Portland–Vancouver–Hillsboro MSA—see our dedicated page: The Portland Region – Six-County Market Area Overview.

Colored map of the six counties comprising the Portland Region: Clackamas, Columbia, Hood River, Multnomah, Washington, and Yamhill.
The six-county Portland Region
Via SunCatcherStudio

All data is sourced from RMLS and reflects open-market manufactured residential sales (excluding condominiums, attached homes, and site-built detached homes). SNL (“Sold Not Listed”) entries—off-market transactions entered retroactively—have been excluded to preserve consistency with true market activity.

All figures have undergone our standard cleaning process to address common RMLS accuracy challenges, including misclassifications (e.g. manufactured homes hiding in other categories, such as the detached category), square footage/price typos, incomplete fields, status/date mismatches, and non-representative entries. For a detailed overview of these issues, their impact on market analysis, and how we mitigate them through automated flagging, cross-verification, and manual review, see the dedicated page: RMLS Data Accuracy Challenges.

It is important to note that this review focuses on manufactured homes permanently affixed to land that is also owned by the same party. This means we are excluding classic mobile home parks where the owner of the mobile home must pay a lease/lot rental fee.

Portland Region 2025 Overview

Overall Regional Trends

The table below summarizes key metrics for attached single-family manufactured residential sales in the Portland Region (Columbia, Clackamas, Hood River, Multnomah, Washington, and Yamhill counties) for 2025 compared with 2024.

Category20242025% Change
Total $ Volume$127.6 Million$148.4 Million+16.25%
Average Price$462,411$471,014+1.86%
Median Price$419,000$435,000+3.82%
Avg SP/OLP96.69%96.14%-0.57%
Avg PPSF (TSF)$295.71$299.03+1.12%
Avg HOA Dues$74.61$72.60-2.69%
Avg Lot Size (ac)3.483.44-1.15%
Avg Age (Yrs)28.2030.50+8.14%
Avg CDOM60.5561.03+0.79%
Avg Total SF1,6091,629+1.24%
Total # of Sales276315+14.13%
# of New Constr.34+33.33%
Avg Supply (Mos.)4.344.09-5.75%
# of REOs74-42.86%
# of Short Sales00
Note: The calculated average HOA dues is for units reporting HOA dues (27 sales for 2025). All other metrics use the full dataset (315 sales for 2025).
Single-Family Manufactured Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Key Observations From the Aggregate Data

  • Manufactured homes posted the strongest price gains of the four major housing segments, with both the average and median rising more than any other category in 2025. What makes this notable is that the segment didn’t rely on a shift toward larger homes or larger parcels; the underlying composition stayed remarkably stable, which means the appreciation reflects genuine demand strength rather than mix effects.
  • Sales activity expanded sharply, marking one of the largest year‑over‑year increases in the region. The rise in closed sales outpaced the modest changes in size, acreage, and days on market, signaling that more buyers were willing to engage with the segment even as inventory remained thin and the stock continued to age. This represented a return to form as 2023 had 310 sales and 2025 closed 5 additional sales.
  • County‑level performance was uneven but ultimately supportive of regional growth. Washington, Multnomah, and Hood River delivered clear price strength, each contributing meaningful upward pressure to the regional averages. Clackamas—by far the largest county by sales count—did not appreciate, but it held close to parity with 2024, providing the stability needed for the stronger counties to carry the region forward.
  • The segment’s physical profile barely changed, with total square footage and acreage holding near 2024 levels and the average home age increasing. In most years, an older stock profile would exert downward pressure on pricing; the fact that prices rose anyway reinforces that the appreciation was demand‑driven rather than structural.
  • Negotiation patterns and market pace remained steady, with only slight softening in sale‑to‑list ratios and days on market. Buyers were selective, but not disengaged; well‑prepared homes in desirable settings continued to attract firm pricing, while more remote or older properties required patience without signaling a broader slowdown.
  • Distressed activity stayed low, continuing a multi‑year trend of stability in the manufactured‑home segment. Even with an aging stock and a wide range of property conditions, bank‑owned and short‑sale activity remained minimal, underscoring the segment’s resilience.

Portland Region Scatter Plots

To visualize the distribution of individual manufactured homes sales prices across 2025, the following scatter plots show sales price against date of sale:

The 2025 sales‑price‑versus‑date scatter shows a remarkably steady rhythm for a segment as small and diverse as manufactured homes. Instead of the sharp seasonal swings that often appear in niche markets, the year unfolds as a consistent band of activity, with sales distributed evenly across all twelve months and no visible collapse in the early winter or late fall. The mid‑range of the market remains especially stable, forming a dense horizontal band that anchors the chart and reflects a year in which buyers and sellers were able to find agreement without dramatic shifts in pricing.

A subtle compression appears from late summer through the end of the year, with fewer low‑end outliers and a tighter clustering around the middle of the price distribution. This narrowing is not a sign of weakening; rather, it reflects a firmer pricing floor and a more consistent mix of properties entering the market in the second half of the year. The upper end of the market continues to register throughout this period, with several higher‑priced sales in the fall and early winter preventing the trendline from flattening and reinforcing the sense of a market that remained confident even as the year wound down.

Taken together, the scatter presents a picture of a segment that moved with calm, steady momentum. The absence of volatility, the persistence of a stable mid‑band, the tightening of the lower range, and the presence of late‑year upper‑band sales all point to a market supported by genuine demand rather than mix‑driven noise. The regional pattern is coherent and balanced, and the underlying county‑level dynamics that shaped this composite view become even clearer when examined individually in the latter sections.

To visualize three important variables at one, the following scatter plot shows sales price versus total square footage with each dot sized by acreage (lot size):

The 2025 size‑based scatter shows a manufactured‑home market that organized itself with unusual clarity. Across the full range of square footage, the points form a coherent upward pattern: larger homes generally commanded higher prices, and the relationship holds consistently enough that the trendline is visible even without drawing it. This is not always the case in the MFH segment, where condition, setting, and acreage can create wide vertical dispersion. In 2025, the market behaved with a steadiness that mirrors the tempo seen in the sales‑price‑vs‑date-of-sale scatter.

Acreage adds a second layer of structure. Larger parcels appear as noticeably larger bubbles, and they tend to sit above the main body of the scatter. This is the classic manufactured‑home dynamic: land can elevate a property well beyond what its square footage alone would suggest. But the acreage premium shows up in a controlled, predictable way. The largest bubbles cluster in the upper half of the chart, but they do not distort the overall shape. Instead, they reinforce the idea that land remains a meaningful value driver without overwhelming the distribution.

The middle of the market—roughly 1,200 to 1,800 square feet and $300K to $600K—forms a dense, stable band that anchors the entire chart. This is where most of the region’s manufactured‑home stock lives, and the consistency of this band supports the conclusion that 2025 was a balanced, demand‑supported year. There is no hollowing out, no thinning, and no sign of a collapsing floor. The lower band remains present across the full range of square footage, but it does not expand downward or show distress. Older homes, modest parcels, and properties needing work appear where expected, but they do not dominate the distribution.

One of the more interesting features of the scatter is the presence of larger parcels at lower price points. Several sizable bubbles sit below the main trendline, showing that an eagle‑eyed and patient buyer can still acquire meaningful acreage at a reasonable price—especially when the home is older, dated, or in need of repair. This is a uniquely manufactured‑home phenomenon and one of the few remaining pathways to acreage ownership at accessible price levels.

A closer look at the three largest‑SF outliers: Three points sit well to the right of the main cluster. Yes, there are three, one is on a small lot and is nearly invisible! These three sales are the largest homes in the dataset and each has a clear, logical explanation once examined:

  • A 42.62‑acre North Plains fixer (cash) sits far below the trendline because the home contributed little value and the buyer was effectively purchasing the land. Its position reflects a classic land‑first MFH transaction.
  • A 0.64‑acre Multnomah sale (FHA) is nearly invisible on the scatter plot. The home is 4,495 SF and was designed for high‑occupancy use, with seven bedrooms, three bathrooms, dual entrances, and a layout suitable for care‑facility, sober‑living, or multigenerational configurations. Despite its size, the home sits on just over half an acre and sold with FHA financing. Its position on the scatter reflects the market’s tendency to discount institutional or cash‑flow‑oriented layouts, which offer utility but do not command the same price premium as conventional single‑family square footage.
  • A 2.5‑acre cash sale falls between the other two. This home is 4,385‑SF and combines a 2004 manufactured home with a 2006 stick‑built addition, creating a dual‑living layout. The home sold for cash and includes a barn, shop, multiple utility rooms, and extensive outdoor improvements. Its position on the scatter reflects the market’s tendency to discount unconventional or hybrid layouts, even when the overall utility and acreage are significant.

Bottom-line Summary

Taken together, the aggregate tables and the two regional scatter plots point to a manufactured‑home market that moved with steady, internally consistent momentum throughout 2025. Sales volume was up and prices held firm across the full range of the segment, with a stable mid‑band anchoring the year and no evidence of a collapsing floor or late‑year volatility. The sales‑price‑versus‑date scatter shows a smooth seasonal rhythm with a mild tightening in the second half of the year, while the size‑and‑acreage scatter reveals a market that valued square footage and land in predictable ways, even as it produced the occasional outlier that is characteristic of this segment.

The overall picture is one of broad‑based stability: genuine demand, a coherent price structure, and a distribution shaped more by steady buyer behavior than by mix shifts or one‑off anomalies. The county‑level sections that follow show how each sub‑market contributed to this regional pattern, and why the composite view looks as orderly as it does. But before we examine the individual counties let’s consider a variety of graphs to illuminate the regional data.

Sales Volume

A treemap visualizing the distribution of manufactured homes sales by county in 2025 clearly illustrates the market’s geographic dispersion in this housing segment.

Manufactured‑home activity in 2025 followed a geographic pattern that is completely different from every other housing segment in the Portland region. In detached, attached, and condominium housing, the Big Three counties—Clackamas, Washington, and Multnomah—account for 90% to 99% of all sales. Manufactured homes break that rule entirely. The outlying counties carry a disproportionate share of the activity, and the market’s center of gravity shifts decisively away from the urban core.

Clackamas led the region with 128 sales, forming the largest block of activity and anchoring the year’s volume. But the next‑largest contributor was not Washington or Multnomah—it was Yamhill, with 69 sales. Columbia followed with 44, and only then do Washington (37) and Multnomah (22) appear. Hood River, with 15 sales, rounded out the region. This distribution is not an anomaly; it reflects the structural reality of the segment. Manufactured homes are more common in rural and semi‑rural settings, where larger parcels, lower land costs, and flexible siting options support a broader range of housing stock.

Year‑over‑year changes reinforce the same pattern:

Clackamas and Yamhill both posted meaningful increases in 2025, Hood River grew from a small base, Columbia softened slightly, and Washington and Multnomah held steady. The uneven movement across counties is another way this segment diverges from the rest of the housing market, where the Big Three typically move in near‑unison and dominate the regional totals.

Despite the differences in scale, no county experienced a collapse in activity, and the overall regional volume increased from the prior year. This stability in the volume distribution is one of the reasons the 2025 scatter plots appear so orderly: the market was active, balanced, and supported by steady buyer participation across all twelve months.

This volume structure sets the stage for the analyses that follow. The counties with the largest footprints shape the regional trendlines, while the smaller counties introduce the nuances, acreage dynamics, and outliers that give the manufactured‑home segment its distinctive character.

The following bar chart shows monthly sales volume for 2025:

The 2025 manufactured‑home market followed a classic seasonal pattern, with a slow winter start, a strong spring buildup, and a broad summer plateau that carried through early fall. January, February, and March posted modest activity, each in the mid‑teens to high‑teens, which is typical for this segment and reflects both weather constraints and the slower pace of rural and semi‑rural transactions. Activity accelerated sharply in April and peaked in May at 39 sales—the high point of the year and the moment when all counties were contributing meaningful volume.

The summer months held that momentum. June, July, August, September, and October all posted between 27 and 37 sales, forming a stable mid‑year band that kept the regional scatter plots well‑populated and prevented the kind of thin‑data volatility that can appear in smaller segments. This broad plateau is one of the reasons the 2025 price‑versus‑date scatter reads as smooth and orderly: the market had consistent participation across the warm months.

Volume tapered in November and December, returning to the high‑teens and low‑twenties. This decline mirrors the seasonal slowdown seen in detached and attached housing, but the manufactured‑home segment tends to soften a bit earlier and more noticeably because rural and acreage‑oriented transactions are more sensitive to weather, daylight, and site‑access conditions.

The line graph below compares monthly sales volume across the twelve months for 2024 and 2025.

The month‑by‑month comparison shows that 2025 was not just a stronger year in total volume—it was a more consistent and better‑balanced year across the calendar. Both years start in the mid‑teens, but the paths diverge quickly. In 2024, activity rose unevenly, with a strong March and June, a soft late summer, and a pronounced spike in October. By contrast, 2025 followed a smoother seasonal arc: a slow winter, a clear spring buildup, and a broad summer plateau that carried through early fall.

Several months illustrate this shift clearly. April and May 2025 were substantially stronger than the prior year, with May reaching 39 sales—nearly double the 2024 figure. August and September also outperformed their 2024 counterparts, reinforcing the sense of steady mid‑year demand. Even the late‑year slowdown behaved differently. While both years tapered in November and December, 2025 maintained higher activity, avoiding the sharp drop seen in December 2024.

Sales Price

The following bar chart shows average monthly sales price for 2025:

Note: The y-axis starts at $300,000 to allow better examination of monthly differences.

Average prices in 2025 followed a smooth, well‑behaved seasonal arc that reflects a stable, demand‑supported manufactured‑home market. The year opened softly at $396K in January, which is typical for this segment given winter weather, rural access constraints, and limited buyer activity. Prices rose sharply in February to $496K and settled into the mid‑$400Ks through March, establishing the early‑spring lift that carried into the main selling season.

From April through August, the market held a steady mid‑year plateau. Monthly averages ranged from the high‑$460Ks to just over $500K, with June and July tied for the year’s peak at $505K. This consistency mirrors the strong mid‑year sales volume and is one of the reasons the price‑versus‑date scatter appears so orderly. The market had enough activity—and enough diversity of properties—to produce a stable pricing band without the volatility that can appear in smaller or more rural datasets.

Prices eased gently in September and October, returning to the mid‑$400Ks, but the decline was modest and short‑lived. November held firm at $446K, and December closed the year strongly at $483K, reversing the fall softness and signaling that buyer willingness remained intact even as the seasonal slowdown set in.

The line graph below compares average monthly sales prices across the twelve months for 2024 and 2025.

The year‑over‑year comparison shows two very different pricing rhythms. 2024 moved with sharper swings, including a pronounced April spike and a steep December drop, while 2025 followed a smoother, more stable seasonal arc with a firm close to the year. The contrast between the two lines reinforces the broader theme of 2025 as a steadier, more demand‑supported market.

Several months illustrate the divergence clearly. January and February opened with a reversal of roles: 2024 began higher in January, but 2025 surged ahead in February with a jump to $496K. Through spring, the two years traded places—2024 peaked at $522K in April, while 2025 held a more moderate but consistent mid‑$400K to mid‑$500K range. By early summer, 2025 had clearly taken the lead, with June and July both landing just above $500K, compared to mid‑$400Ks in 2024.

The late‑summer and early‑fall months show the same pattern. August and September were tighter between the two years, but 2025 maintained a slight edge. October and November flipped again, with 2024 briefly rising above 2025, but the difference was modest and short‑lived. The most striking contrast appears in December: 2025 closed at $482,952, while 2024 fell to $394,887, its lowest point of the year. That strong finish in 2025 reinforces the stability seen in the scatter plots and confirms that the market ended the year with pricing confidence rather than seasonal weakness.

Across the full calendar, 2025 shows a smoother, more coherent price structure, with fewer abrupt shifts and a stronger mid‑year plateau. The 2024 line, by comparison, reflects a more volatile pattern shaped by mix, timing, and thinner winter volume.

Cumulative Days on Market

The bar chart below compares average cumulative days on market (CDOM) throughout 2025.

Cumulative Days on Market in 2025 followed a seasonal pattern that is typical for the manufactured‑home segment, but with enough mid‑year stability to reinforce the broader theme of a steady, demand‑supported market. January opened at 74 days—elevated but not unusual for winter, when rural access, weather, and buyer activity all slow. February spiked to 123 days, the highest point of the year, driven by a small number of older listings finally clearing. This kind of early‑year cleanup is common in this segment and does not indicate weakening demand.

From March through October, the market settled into a remarkably consistent mid‑year band. CDOM ranged from the mid‑40s to mid‑60s, with March at 45 days, April at 50, and May at 46. Even as volume increased in the spring and summer, marketing times remained stable, suggesting that buyers were active and well‑matched to available inventory. The summer months—June through August—held between 55 and 63 days, and September and October stayed in the mid‑50s to mid‑60s. This eight‑month stretch of steady CDOM is one of the clearest indicators that the 2025 market was functioning smoothly.

The bar chart below compares cumulative days on market for 2024 and 2025.

The year‑over‑year comparison shows that while the shape of CDOM changed noticeably between 2024 and 2025, the overall level barely moved. The annual averages were 60.55 days in 2024 and 61.03 days in 2025—a difference of less than half a day. In a small segment like manufactured homes, this is exactly what you expect: the monthly pattern can shift dramatically depending on which slow listings clear when, but the underlying market tempo remains stable.

The month‑to‑month behavior is where the two years diverge. Early 2025 opened with elevated winter CDOM—74 days in January and 123 in February—driven by a handful of older listings finally closing out. In contrast, 2024 began unusually low before rising into the 80–90‑day range. Spring flipped the pattern again: 2025 settled quickly into the mid‑40s to mid‑50s, while 2024 spiked to 97 days in April. Summer showed the same contrast, with 2025 holding steady in the mid‑50s to low‑60s and 2024 swinging from the low‑30s in June and July to 104 days in August.

Despite these very different seasonal shapes, both years ultimately lived in the same CDOM neighborhood. Neither year shows evidence of systemic softening, prolonged marketing times, or inventory backing up. Even the late‑year divergence—2024 ending at 100 days versus 84 in 2025—reflects timing and mix rather than a structural shift in demand. Manufactured‑home markets often show sharper winter variability due to rural access, weather, and financing logistics, and both years behaved within that normal envelope.

The key takeaway is that 2025 wasn’t meaningfully “faster” or “slower” than 2024. It was simply smoother. The mid‑year band in 2025 was more stable, the volatility was lower, and the seasonal rhythm was more predictable. The nearly identical annual averages underscore that the manufactured‑home market maintained a consistent, balanced tempo across both years.

Housing Supply

Months of supply (MOS) represents the number of months it would take to absorb current active inventory at the prevailing sales pace, assuming no new listings enter the market. The following bar chart shows MOS by calendar month for 2025:

Months of Housing Supply in 2025 moved through a clean, seasonal arc that mirrors the stability seen in pricing, volume, and CDOM. The year opened with elevated winter supply—4.88 months in January and 6.00 months in February—a normal pattern for manufactured homes, where rural access, weather, and slower buyer activity tend to stretch inventory relative to sales. From there, supply tightened quickly as spring demand arrived. March dropped to 5.39 months, and April fell sharply to 3.34 months, setting up the strongest stretch of the year.

The core of the market—May through October—held a remarkably stable band between roughly 2.8 and 4.1 months. May posted the year’s low at 2.82 months, reflecting strong absorption and a well‑matched buyer pool. June and July rose modestly into the 3.9–4.1 range, and August through October settled into a tight cluster between 3.09 and 3.27 months. This six‑month plateau is one of the clearest indicators that the 2025 manufactured‑home market was balanced and functioning smoothly. Supply was neither constrained nor excessive; it simply tracked demand in a predictable, orderly way.

The late‑year rise—4.38 months in November and 4.67 months in December—is exactly what you expect in this segment. Manufactured homes often see sharper winter slowdowns due to siting logistics, inspections, and financing timelines, and 2025 behaved squarely within that normal envelope. Importantly, even the year‑end levels remained moderate. There was no sign of inventory backing up or buyers stepping away.

The line graph below compares months of supply for 2024 (blue line) and 2025 (red line), with a full y-axis scale to show true proportional differences:

The year‑over‑year comparison shows that while the month‑to‑month pattern of housing supply shifted noticeably between 2024 and 2025, the overall level of inventory remained almost identical. The annual averages were 4.34 months in 2024 and 4.09 months in 2025, a difference of just a quarter of a month. In a small segment like manufactured homes—where a handful of listings can swing a single month—this near‑match in annual supply is expected. What changed was the seasonal shape, not the underlying balance between listings and sales.

The two years diverged early. January and February 2025 opened with 4.88 and 6.00 months of supply, while 2024 began slightly lower at 5.06 and 4.94. By March, the pattern flipped: 2025 eased to 5.39 months, while 2024 tightened sharply to 3.35. Spring continued the alternating rhythm. April and May 2025 dropped to 3.34 and 2.82 months, reflecting strong absorption, while 2024 rose to 4.33 and 4.62. Summer followed the same back‑and‑forth dynamic. June and July 2025 held at 3.90 and 4.11 months, compared to 2.85 and 3.20 in 2024, before August reversed the relationship again with 3.22 months in 2025 versus 4.61 in 2024. Through early fall, 2025 held a tight, stable band between 3.09 and 3.27 months, while 2024 ranged from 3.62 down to 2.45.

The most dramatic difference appears in December. Supply spiked to 8.30 months in 2024, the highest point across both years, while December 2025 closed at 4.67 months, elevated but still within a normal seasonal range. This single month accounts for much of the visual gap between the two lines and reflects timing and mix rather than a structural imbalance.

Despite the month‑to‑month volatility, both years lived in the same overall supply environment. Neither shows evidence of inventory backing up or buyers stepping away. The mid‑year plateau in 2025—roughly three to four months of supply from May through October—reinforces the broader theme of a balanced, well‑functioning market. The 2024 line, by contrast, is more jagged, shaped by thinner volume and a few months where slower listings accumulated. The nearly identical annual averages—4.34 vs. 4.09 months—underscore that the manufactured‑home market maintained a consistent, stable supply profile across both years, even as the monthly curves took different paths.

Histograms

Histograms offer a unique and powerful perspective on the manufactured homes market that traditional summary statistics and bar charts cannot fully capture: they reveal the underlying shape, spread, and clustering of the data, exposing patterns, skewness, tails, and bifurcations that averages and medians alone obscure.

The following histogram shows the distribution of sales price as a percentage of original list price in 2025:

The distribution of sale‑to‑list ratios in 2025 shows a market that centered tightly around full price, with most transactions occurring in a narrow band and only light activity at the extremes. The single largest bin—97.5% to 99.9%—contains 82 sales (26.03%), and the surrounding bins at 95.0%–97.4%, 100.0%–102.4%, and 102.5%–104.9% add another substantial block of activity. Once aggregated, the full 95% to <105% band contains 192 sales, representing 60.95% of all transactions. This is the clearest signal in the dataset: the manufactured‑home market in 2025 rewarded accurate pricing with highly predictable outcomes, and most homes sold within just a few percentage points of their original list price.

Below‑list activity was present but modest. All bins under 90% of list total 60 sales (19.05%), spread thinly across many small ranges. No single low‑ratio bin dominates, and the counts taper quickly as ratios fall. These cases likely reflect idiosyncratic situations—condition issues, location constraints, or listings that began overpriced and required significant repositioning—rather than a structural pattern of deep discounting.

The upper tail behaves similarly. At 105% or above, the combined bins total 23 sales (7.3%), with each individual range containing only a handful of transactions. These are the occasional competitive situations where buyers stretched above list—clean acreage, desirable settings, or well‑prepared homes—but they remain the exception rather than the rule.

Taken together, the histogram shows a market with a very stable pricing center and only light activity at the extremes. The dominant pattern is straightforward: nearly two‑thirds of all manufactured‑home sales closed within 5% of the original list price, and the remaining third is split between modest under‑list adjustments and a small number of above‑list outcomes. The distribution reinforces the broader theme of the 2025 manufactured‑home market—steady demand, accurate pricing, and predictable negotiation dynamics.

The following histogram shows the distribution of sales prices of manufactured homes in 2025:

The 2025 sales‑price histogram shows a market with a clear middle, a long but orderly tail, and no distortive spikes—exactly what you want to see in a manufactured‑home dataset of this size. The distribution builds gradually from the low end, peaks cleanly in the mid‑price ranges, and then tapers in a predictable pattern as prices rise.

The lower bins are thin, with 5 sales (1.59%) in the $100K–$149K range and 6 sales (1.90%) in the $150K–$199K range. Activity begins to take shape in the $200K–$249K and $250K–$299K bins, which together account for 29 sales (9.21%). But the market doesn’t truly concentrate until the $300Ks and $400Ks, where the core of the distribution sits. The $300K–$349K bin contains 29 sales (9.21%), and the $350K–$399K and $400K–$449K bins contain 49 (15.56%) and 48 (15.24%) sales respectively. These two adjacent bins form the single largest block in the histogram, representing more than 30% of all 2025 manufactured‑home sales. This is the pricing center of gravity for the year.

Above that, the distribution steps down gradually. The $450K–$499K bin holds 29 sales (9.21%), and the $500K–$549K and $550K–$599K bins add another 24 (7.62%) and 20 (6.35%) sales. The $600K–$649K bin rises again to 29 sales (9.21%), reflecting the presence of higher‑quality acreage properties that routinely trade in this range. Beyond $650K, the counts taper as expected: 16 sales (5.08%) in the $650K–$699K range, 10 (3.17%) each in the $700K–$749K and $750K–$799K bins, and then small, isolated counts in the $800Ks and $900Ks. The upper tail ends with 3 sales (0.95%) at or above $950K.

The overall shape is exactly what a healthy manufactured‑home market should look like: a strong, well‑defined middle; a gradual taper on both sides; and no evidence of clustering at distressed price points or runaway concentration at the high end.

The following histogram shows the distribution of age for manufactured homes in 2025:

The age distribution for 2025 manufactured‑home sales forms a broad mid‑life plateau centered on homes built roughly 27–32 years ago. The 27–29 year bin accounts for 17.14% of all sales, and the 30–32 year bin adds another 18.73%, placing more than a third of the year’s activity in this single five‑year span. The average age of 30.50 years sits directly within this peak, reflecting the era when a large share of the region’s manufactured stock was built.

Surrounding this core, the bins from 24–47 years make up 73.02% of all 2025 sales, underscoring how strongly the market is anchored in this construction era. Even when the 27–32 year peak is removed, the remaining bins in that same 24–47 year window still represent 37.14% of the dataset, showing that the “shoulders” of the distribution are almost as large as the rest of the histogram combined. This structure reflects the region’s development history: a substantial wave of manufactured‑home construction in the late 1980s and early 1990s, followed by steadier, thinner additions in later decades.

The younger end of the distribution is modest, with only small counts in the 0–2, 3–5, and 6–8 year bins. This reflects the limited pipeline of new or recent construction manufactured homes entering the resale market each year. The older tail behaves similarly, tapering gradually through the 36–53 year bins and ending with just four sales each in the 54–56 and 57+ year ranges. Both tails are present but light, reinforcing that the market is driven primarily by mid‑life homes with predictable turnover and stable buyer demand.

The following histogram shows the distribution of total square footage for manufactured homes in 2025:

The 2025 square‑footage distribution is anchored firmly in the mid‑size ranges, and the average of 1,629 square feet for 2025 sits directly within the broad plateau that defines the market. The single largest bin is 1,500–1,649 SF, representing 16.51% of all sales, and it is surrounded by similarly strong activity in the 1,200–1,349 SF (13.65%), 1,350–1,499 SF (12.70%), and 1,650–1,799 SF (13.97%) ranges. When combined with the 1,800–1,949 SF bin (9.84%), this mid‑range cluster forms a dominant block: the 1,050–1,949 SF span accounts for 242 sales, or 76.83% of the entire market. This is the structural center of the manufactured‑home segment in 2025.

Below this core, smaller homes taper in gradually. Units under 1,050 SF total 21 sales (6.67%), with modest representation in the 750–899 SF and 900–1,049 SF bins and only isolated activity below 750 square feet. Very small units under 600 square feet are nearly absent, reflecting the limited presence of tiny or cottage‑style manufactured homes in the resale market.

Above the mid‑range plateau, the distribution steps down in a predictable pattern. The 1,950–2,399 SF bins show steady but modest activity, and the upper tail continues through the 2,400–2,699 SF ranges before tapering to the 2,700–2,849 SF and 2,850+ SF bins. Larger homes remain a small share of the market, but they appear consistently enough to form a recognizable tail rather than isolated outliers.

The following histogram shows the distribution of lot size for manufactured homes in 2025:

The 2025 lot‑size distribution shows a market split between small parcels and acreage properties, with a long upper tail that reflects the rural and semi‑rural settings common in this segment. The average lot size of 3.44 acres for 2025 sits well above the median bins, pulled upward by a relatively small number of large‑acreage properties.

The most common range by far is 0.000–0.499 acres, representing 41.90% of all sales. These are smaller‑scale parcels where the home itself drives most of the value. The next several bins—0.500–0.999 acres (9.52%), 1.000–1.499 acres (6.35%), and 1.500–1.999 acres (3.49%)—add another block of modest‑sized lots, placing the majority of 2025 sales on parcels under two acres.

Beyond that point, the distribution transitions into a broad acreage band. The 2.000–2.499 and 2.500–2.999 acre bins account for 5.40% and 6.03% of sales, and the 3.000–3.999 acre ranges add smaller but steady counts. These mid‑acreage parcels reflect the region’s rural inventory—properties with more land utility, outbuildings, or agricultural potential.

The upper tail is long and structurally important. Individual bins from 4.000–4.499 acres through 9.000–9.499 acres each contain only a handful of sales, but the final bin—≥ 9.500 acres, with 31 sales (9.84%)—is large for a specific reason. It is not a natural cluster at 9.5 acres; it is the catch‑all category for the entire long tail of acreage parcels, including properties extending far beyond the histogram’s visible range. Because the chart is limited to 20 bins, all parcels larger than 9.5 acres are compressed into this single bucket, which explains its size and why the average lot size reaches 3.44 acres even though most homes sell on small lots.

The overall shape is a classic manufactured‑home pattern: a dense small‑lot core, a broad mid‑acreage band, and a long, open‑ended tail where large rural parcels trade in small but meaningful numbers. This structure aligns with the pricing, age, and square‑footage distributions already documented, reinforcing the diversity of settings in which manufactured homes operate across the region.

The following histogram shows the distribution of cumulative days on market for manufactured homes in 2026:

The CDOM distribution for 2025 shows a market with a strong, fast‑moving core and a structurally long tail, and the average of 61.03 days for 2025 sits right at the hinge point between those two regimes. The first two bins—0–4 days (14.92%) and 5–9 days (18.73%)—together account for one‑third of all sales, reflecting listings that were priced correctly and absorbed quickly. The next several bins through roughly 30 days add another steady block of activity, with 10–14 days (6.03%), 15–19 days (5.08%), 20–24 days (3.81%), and 25–29 days (2.22%) forming a smooth taper. This early portion of the histogram captures the bulk of the market’s normal turnover (50.79%).

From 30 to about 60 days, the distribution remains relatively stable and evenly populated. Bins such as 35–39 days (4.13%), 40–44 days (2.86%), 45–49 days (4.44%), and 50–54 days (4.44%) show that mid‑range marketing times were common and not indicative of distress. These ranges represent listings that required modest repositioning or simply needed more exposure time, but still behaved predictably within the broader flow of the market.

The upper tail begins around 60 days and extends outward in small but persistent increments. Individual bins from 60–64 days (1.59%) through 90–94 days (1.59%) each contain only a handful of sales, but they form a continuous sequence of slower‑moving listings. The final bin—≥ 95 days, with 59 sales (18.73%)—is large for a structural reason. It is not a natural cluster at 95–100 days; it is the catch‑all category for the entire long tail, which in 2025 extended all the way to a maximum of 712 cumulative days on market. Because the histogram is limited to 20 bins, every listing beyond 95 days is compressed into this single bucket, which explains its size and why the average CDOM reaches 61.03 days even though most sales occur well below that threshold (the median is 27 days).

The overall shape is consistent with a healthy manufactured‑home market: a fast‑moving core, a stable mid‑range, and a long but thin tail of slower‑moving listings that reflect unique property characteristics, pricing adjustments, or atypical circumstances.

Miscellaneous Statistics & Standout Transactions

Here are some of the most notable outliers and extremes from the 2025 Portland Region attached homes market—numbers that illustrate the full range of the data and the extremes buyers and appraisers encounter.

Lowest Sales Price: $115,000—1-bedroom, 1.0-bathroom unit. This manufactured home in Vernonia (Columbia County) predates the current HUD codes and is a compact unit offering a distinct bedroom and living space on a 0.10-acre lot. This unit offers home and land ownership at an affordable price point. Photos of this property are currently available online.

Highest Sales Price: $1,100,000—Two manufactured homes in Canby, Oregon (Clackamas County). This sale involved two homes on one 10.03-acre lot. One home is 1,497 sq. ft. and the other is 1,671 sq. ft. The property has a number of outbuildings and the site offers a lot of flexibility for the owner. Photos of this property are currently available online.

Longest CDOM: 712 days—3-bedroom, 2.0-bathroom home in Mulino, Oregon (Clackamas County). This 1,820-sq. ft. property sold as a heavy fixer, which accounts for why it took so long to close. The unit is situated on 8.27 acres. The land likely represented a significant portion of the value. Photos of this property are currently available online.

Smallest Manufactured Home: 500 SF—1-bedroom, 1.0-bathroom unit. This is the same home as the lowest-priced sale. This property took the crown in two categories!

Largest Manufactured Home: 4,800 SF—3-bedroom, 2.0-bathroom unit in North Plains, Oregon (Washington County). This property is a triple-wide behemoth with solar panels! It is located on a 42.62-acre site and most of the lot is used for merchantable timber. Exterior photos of this property are currently available online.

Largest Lot: 53.39 acres—3-bedroom, 2.0-bathroom unit in Clatskanie, Oregon (Columbia County). This 2,209-sq. ft. home sold as a fixer. The site has several outbuildings and 40 acres of timber. The site is mostly gentle slope, making for a very usable plat. Photos of this property are currently available online.

With the regional aggregate trends, graphs, monthly patterns, histogram analysis, and notable outliers covered, the remainder of this update turns to a county-level breakdown. The following sections present year-over-year comparisons for each of the six counties in the Portland Region—Multnomah, Washington, Clackamas, Yamhill, Columbia, and Hood River. Each county snapshot includes key metrics, commentary on local drivers, and any segment-specific observations that help explain broader regional patterns.

Multnomah County 2025 Stats

Multnomah County represented 6.98% of the total 2025 manufactured home market.

The table below summarizes key metrics for Multnomah County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$9.07 Million$10.27 Million+13.23%
Average Price$412,132$466,676+13.23%
Median Price$390,500$404,000+3.46%
Avg SP/OLP98.09%95.09%-3.05%
Avg PPSF (TSF)$256.83$332.86+29.60%
Avg Lot Size (ac)1.582.94+85.53%
Avg Age (Yrs)28.5031.41+10.21%
Avg CDOM66.0570.50+6.74%
Avg Total SF1,6351,540-5.84%
Total # of Sales22220.00%
# of New Constr.00
# of REOs10-100.00%
# of Short Sales00

Multnomah County continues to play a marginal role in the Portland Region’s manufactured housing market on owned land, with exactly 22 sales in 2025—unchanged from 2024. This persistent low volume reflects the county’s urban character: scarce acreage parcels, zoning restrictions, and competition from higher-density or site-built uses limit opportunities for affixed manufactured homes.

Despite flat transaction count, dollar volume increased 13.23% to $10.27 million, driven by a corresponding 13.23% rise in average price to $466,676 (median up 3.46% to $404,000). Notably, average home size declined slightly, while average lot size nearly doubled (+85.53% to 2.94 acres). The shift toward larger parcels—concentrated in outer rural pockets—lifted total values and contributed to a sharp 29.60% increase in average PPSF, even as the improvements themselves remained modest. Market time lengthened modestly (average CDOM +6.74%), and sales-to-list ratios fell to 95.09% (-3.05%), consistent with the negotiation dynamics typical of acreage properties.

No new construction or distressed sales occurred in 2025, keeping the segment clean and conventional. In this county dominated by the Portland urban core, manufactured homes on owned land most often function as an interim or affordability solution on remaining larger parcels.

The following is a scatter plot of all Multnomah County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Multnomah County reveals a noticeable downward pattern across 2025. This is likely due to a compositional shift in lot size as the year progressed. The larger lots supported elevated prices early on, followed by a general shift toward smaller parcels later in the year—contributing to overall price stability with a downward tilt despite the modest YoY gains in averages.

Washington County 2025 Stats

Washington County represented 11.75% of the total 2025 manufactured home market.

The table below summarizes key metrics for Washington County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$18.05 Million$19.59 Million+8.54%
Average Price$474,884$529,362+11.47%
Median Price$422,500$485,000+14.79%
Avg SP/OLP97.11%96.69%-0.43%
Avg PPSF (TSF)$329.95$317.46-3.79%
Avg Lot Size (ac)2.524.38+73.55%
Avg Age (Yrs)26.9233.22+23.38%
Avg CDOM56.0354.11-3.42%
Avg Total SF1,4961,778+18.87%
Total # of Sales3837-2.63%
# of New Constr.00
# of REOs00
# of Short Sales00

Washington County ranks as a solid mid-tier contributor to the Portland Region manufactured housing market on owned land, with 37 sales in 2025—down slightly from 38 in 2024 (see the county summary table above). This modest decline in volume still places Washington among the more active counties for affixed manufactured homes, reflecting its mix of suburban and rural pockets where acreage remains somewhat available compared to urban Multnomah.

Dollar volume increased 8.54% to $19.59 million, supported by stronger per-unit pricing: average price rose 11.47% to $529,362, and median price climbed 14.79% to $485,000. The price gains were driven primarily by larger and newer inventory—average lot size jumped 73.55% to 4.38 acres, and average home size grew 18.87% to 1,778 SF—while average PPSF eased slightly (-3.79% to $317.46), a reminder that total value in this segment is heavily influenced by land contribution rather than improvement size alone. Homes also aged noticeably (average +23.38% to 33.22 years), consistent with limited new production. Market absorption improved modestly (average cumulative DOM -3.42% to 54.11 days), and sales-to-list ratios remained stable at 96.69% (-0.43%), typical for acreage properties.

The following is a scatter plot of all Washington County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Washington County shows consistent activity throughout 2025, with prices spanning roughly $300,000 to over $1,000,000 and no strong seasonal or directional trend. A couple of higher-end sales ($800K+ range) appear in late summer/early fall, while mid-range sales ($400K–$700K) dominate the bulk of transactions. This even distribution aligns with the county’s balanced pricing gains despite the slight drop in unit count.

No new construction or distressed sales occurred in 2025, keeping the segment entirely resale. Washington County’s manufactured home market benefits from its position between urban constraints and rural acreage opportunities, allowing larger parcels to support elevated values in a segment where land often outweighs the home itself in the valuation equation.

Clackamas County 2025 Stats

Clackamas County represented 40.63% of the total 2025 manufactured home market.

The table below summarizes key metrics for Clackamas County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$49.8 Million$64.10 Million+28.70%
Average Price$508,188$500,743-1.47%
Median Price$491,601$450,000-8.46%
Avg SP/OLP96.47%96.43%-0.04%
Avg PPSF (TSF)$314.19$311.37-0.90%
Avg Lot Size (ac)4.043.13-22.59%
Avg Age (Yrs)27.3528.73+5.04%
Avg CDOM51.4857.95+12.56%
Avg Total SF1,6631,676+0.78%
Total # of Sales98128+30.61%
# of New Constr.23+50.00%
# of REOs12+100.00%
# of Short Sales00

Clackamas County dominates the Portland Region manufactured housing market on owned land, accounting for 128 sales in 2025 and $64.10 million in volume (43.20%). Sales count surged 30.61% from 98 in 2024, driving a 28.70% increase in dollar volume and cementing Clackamas as the clear leader in this segment.

Despite the robust volume growth, per-unit pricing softened modestly: average price fell 1.47% to $500,743, and median price declined 8.46% to $450,000. Average PPSF remained nearly flat (-0.90% to $311.37), while average lot size decreased 22.59% to 3.13 acres. The smaller average parcels likely contributed to the price softening by reducing land contribution, even as home size stayed stable (+0.78% to 1,676 SF) and age increased slightly (+5.04% to 28.73 years). Market time lengthened (average cumulative DOM +12.56% to 57.95 days), and sales-to-list ratios held steady at 96.43% (-0.04%). New construction remained minimal (3 units), and distressed activity was limited to 2 REOs.

Clackamas County’s average price hewed closely to 2024 levels, remaining essentially neutral in the dataset. With the county representing over 40% of regional sales volume, its stability anchored the market and allowed stronger price gains in smaller-volume counties to modestly lift the regional average.

The following is a scatter plot of all Clackamas County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Clackamas County shows consistent activity throughout 2025, with prices ranging from approximately $200,000 to over $1,100,000 and a subtle upward tilt in the latter half of the year. Higher-value sales (more points in the $600,000–$900,000+ range) become more prevalent from mid-year onward, reflecting a gradual increase in home size closing later in the period. This pattern helps offset some of the modest per-unit price softening seen in the annual averages.

Clackamas County’s leadership in manufactured home sales stems from its relative abundance of rural and semi-rural parcels compared to more urban counties. It represents the engine of the region’s manufactured homes market.

Yamhill County 2025 Stats

Yamhill County represented 21.90% of the total 2025 manufactured home market.

The table below summarizes key metrics for Yamhill County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$25.43 Million$29.35 Million+15.45%
Average Price$454,037$425,431-6.30%
Median Price$407,500$410,000+0.61%
Avg SP/OLP96.33%97.60%+1.32%
Avg PPSF (TSF)$288.51$270.53-6.23%
Avg Lot Size (ac)3.132.99-4.34%
Avg Age (Yrs)29.7531.80+6.88%
Avg CDOM54.3850.88-6.42%
Avg Total SF1,6041,579-1.55%
Total # of Sales5669+23.21%
# of New Constr.00
# of REOs21-50.00%
# of Short Sales00

Yamhill County ranks as the second-most active market for manufactured homes on owned land in the Portland Region, with 69 sales in 2025—up 23.21% from 56 in 2024—and $29.35 million in volume (+15.45%). This solid rebound in transaction activity underscores the county’s appeal for rural and semi-rural acreage buyers, where manufactured homes remain a viable affordability option.

Despite the volume strength, per-unit pricing softened: average price declined 6.30% to $425,431, while the median held nearly flat (+0.61% to $410,000). Average PPSF fell 6.23% to $270.53, reflecting slightly smaller homes (-1.55% to 1,579 SF) and marginally reduced lot size (-4.34% to 2.99 acres), combined with an older inventory base (+6.88% to 31.80 years). Absorption improved noticeably (average cumulative DOM -6.42% to 50.88 days—the fastest among the six counties), and sales-to-list ratios edged higher to 97.60% (+1.32%), suggesting relatively efficient pricing negotiations for acreage properties.

No new construction occurred, and distressed activity was minimal (one REO). Yamhill County’s manufactured home market benefits from its rural character and relative availability of acreage compared to more urban counties, though land contribution remains the primary valuation driver.

The following is a scatter plot of all Yamhill County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Yamhill County illustrates consistent activity throughout 2025, with prices ranging from approximately $100,000 to nearly $900,000 and the bulk clustering between $300,000 and $600,000. Higher-value sales appear scattered across the year without a dominant trend, reflecting the county’s mix of rural larger-lot parcels (supporting occasional $600K+ closings) and more modest suburban or small-lot transactions that drive much of the volume. The even monthly distribution aligns with the strong unit growth and quicker market time.

Columbia County 2025 Stats

Columbia County represented 13.97% of the total 2025 manufactured home market.

The table below summarizes key metrics for Columbia County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$20.98 Million$16.94 Million-19.27%
Average Price$395,896$384,984-2.76%
Median Price$373,500$375,000+0.40%
Avg SP/OLP96.83%93.90%-3.03%
Avg PPSF (TSF)$256.28$262.81+2.55%
Avg Lot Size (ac)4.665.20+11.70%
Avg Age (Yrs)29.0432.23+10.98%
Avg CDOM89.1981.73-8.37%
Avg Total SF1,5811,484-6.09%
Total # of Sales5344-16.98%
# of New Constr.110.00%
# of REOs31-66.67%
# of Short Sales00

Columbia County represents a distinctly rural segment of the Portland Region manufactured housing market on owned land, with 44 sales in 2025—down 16.98% from 53 in 2024—and $16.94 million in volume (-19.27%). This volume contraction reflects the county’s remote location and limited buyer pool.

Per-unit pricing showed mild softening: average price declined 2.76% to $384,984, while the median remained essentially flat (+0.40% to $375,000). Average PPSF edged up modestly (+2.55% to $262.81), supported by larger average lot size (+11.70% to 5.20 acres—the highest among the six counties) despite smaller homes (-6.09% to 1,484 SF) and an older inventory (+10.98% to 32.23 years). Market time improved (-8.37% to 81.73 cumulative DOM), though Columbia retained the longest average days on market among the counties. Sales-to-list ratios fell to 93.90% (-3.03%), indicating greater negotiation room typical of more isolated acreage properties. New construction was negligible (1 unit), and distressed activity reduced to one REO.

The following is a scatter plot of all Columbia County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Columbia County illustrates steady but sparse activity throughout 2025, with prices ranging from $115,000 to $725,000 and the majority clustering between $300,000 and $600,000. Higher-value sales appear scattered across the year without a clear trend, reflecting the county’s rural character and large-lot dominance, while lower-end transactions (some on small parcels) contribute to the lower tail. The even monthly distribution aligns with the improved absorption despite the overall volume decline.

Hood River County 2025 Stats

Hood River County represented 4.76% of the total 2025 manufactured home market.

The table below summarizes key metrics for Hood River County manufactured single-family residential sales in 2025 compared with 2024.

Category20242025% Change
Total $ Volume$4.30 Million$8.13 Million+88.92%
Average Price$477,994$541,809+13.35%
Median Price$499,000$560,000+12.22%
Avg SP/OLP95.20%93.56%-1.72%
Avg PPSF (TSF)$321.86$335.87+4.35%
Avg Lot Size (ac)1.221.35+10.58%
Avg Age (Yrs)27.5626.47-3.95%
Avg CDOM34.7876.47+119.87%
Avg Total SF1,6391,650+0.68%
Total # of Sales915+66.67%
# of New Constr.00
# of REOs00
# of Short Sales00

Hood River County represents the smallest but most premium segment of the Portland Region manufactured housing market on owned land, with 15 sales in 2025—up 66.67% from 9 in 2024—and $8.13 million in volume (+88.92%). Despite the low absolute numbers, this rebound reflects renewed interest in the area’s scenic appeal and limited supply of suitable parcels.

Per-unit pricing advanced solidly: average price increased 13.35% to $541,809, and median price rose 12.22% to $560,000—the highest county medians in the region. Average PPSF climbed 4.35% to $335.87 (also the highest), supported by slightly larger lots (+10.58% to 1.35 acres—the smallest average acreage) and stable home size (+0.68% to 1,650 SF). Homes were marginally younger (-3.95% to 26.47 years—the youngest average age), suggesting a mix that included relatively recent builds. Market time extended significantly (+119.87% to 76.47 cumulative DOM), likely due to the county’s remote location and selective buyer pool, while sales-to-list ratios dipped to 93.56% (-1.72%), indicating greater negotiation room on premium properties. No new construction or distressed sales occurred.

Hood River County’s manufactured home market benefits from its unique location in the Columbia River Gorge, where demand for views, recreation, and limited supply drives premium per-unit values despite smaller average lots and extended market time.

The following is a scatter plot of all Hood River County sales in 2025 (sales price vs. date of sale):

The Sales Price vs. Date of Sale scatter for Hood River County shows sparse but steady activity throughout 2025, with prices ranging from $295,000 to $750,000 and the majority clustering between $500,000 and $700,000. Higher-value sales appear scattered across the year without a dominant trend, consistent with the county’s limited inventory and scenic/river-proximity premiums that support elevated pricing even on smaller parcels.

Closing Thoughts

2025 proved to be a year of quiet resilience and uneven recovery for manufactured homes on owned land in the Portland Region. Transaction volume rebounded strongly to 315 sales—essentially returning to 2023 levels after the softer 2024—and total dollar volume rose 16.25% to $148.4 million; putting nearly $21 million more dollars in sellers’ hands. Per-unit pricing held firm with modest gains and PPSF edged up, even as inventory continued to age and new construction remained negligible (just 4 units region-wide).

The year highlighted the segment’s rural character: Clackamas, Yamhill, and Columbia together accounted for ~74% of dollar volume and ~77% of sales, driven by acreage availability that buffered value despite macro pressures. Land contribution remained the dominant valuation driver across counties—diluting PPSF in larger-parcel sales while supporting total prices, especially in premium locations like Hood River (highest avg/median prices and PPSF) and rural pockets in Washington and Columbia (largest average lots). Heterogeneity persisted, with small-sample volatility in lower-volume counties (Multnomah, Hood River) and longer market times in remote areas, yet quicker absorption in Yamhill and Washington.

Distress stayed minimal (4 REOs, zero short sales), and the segment earned its place as the second-most affordable housing type per the Portland Appraisal Blog Affordability Index (PABAI 111.67), trailing only condominiums.

Manufactured homes on owned land continue to serve as a practical affordability pathway and, in many cases, an interim use on rural parcels where site-built homes are viewed as the highest and best use. There were 1,199 acreage site-built sales in 2025; when combined with the 153 manufactured homes on at least 1 acre of land, that yields 1,352 total acreage sales. Manufactured homes thus comprised 11.32% of the acreage market—almost eight times their approximate share of overall regional housing sales volume.

Looking to 2026, key questions include whether sustained rate relief and rural demand will sustain or accelerate volume, whether limited new production will further age the inventory, and how evolving land-use policies might affect acreage availability in outer counties. The niche’s resilience through 2025 suggests it will remain an important, if specialized, component of regional housing options.

What trends do you expect to see in 2026? I’d love to hear your thoughts—feel free to reply here or reach out directly.

Sources & Further Reading

All data presented in this annual review is sourced directly from RMLS and has been subjected to our rigorous cleaning and validation process to ensure reliability for manufactured residential analysis in the six-county Portland Region. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

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