Each month, we spotlight one of Portland’s many desirable suburbs Portland’s many desirable suburbs in our Portland Suburb Real Estate Market Reports. The reports offer valuable insights into neighborhood real estate conditions so buyers and sellers can make informed decisions.
This month, we are focusing on Milwaukie, Oregon. Often confused with Milwaukee, WI, this charming suburb is about six miles south of downtown Portland along its southeastern edge. It is well known for its eclectic mix of restaurants, bars, shopping, and outdoor activities close to Portland. Here, residents can enjoy activities like kayaking or swimming in the Willamette River, visiting the world-famous Bob’s Red Mill, or grabbing a drink at one of the many tasty breweries.
Milwaukie, Oregon Housing Inventory is More Stable Than Usual
According to Fidelity National Title, each year Milwaukie sees a rise in inventory from spring to October and then a dip from October until the following spring. Still, the last six months have been different from the norm. Inventory has leveled off since early October without any significant drop in January – as of yet. Inventory is also higher this year than in the prior four years.
Milwaukie, Oregon Inventory Chart Courtesy of Fidelity National Title
By and large, Greater Portland follows seasonal trends, as does Milwaukie in particular, and this is evident from previous years in the graph. This means we will likely experience a decline soon, which will continue until spring. Regardless, Milwaukie has supported higher-than-normal inventory through stabilized prices since October, so it remains a healthy market.
Milwaukie, Oregon Real Estate Prices Slightly Rise
Milwaukie typically sees a dip in inventory in October, and with it comes higher or steady home pricing – both signs of strong demand. 2024 was unique in that the inventory levels continued to rise through October, and they have yet to dip. Home values fell from October to December. This is likely due to the long period of higher-than-normal inventory causing more competition between sellers. Still, there has been a correction in recent weeks in home pricing, resulting in higher year-over-year values than the past four years, showing demand for the area.
Milwaukie, Oregon Price Per Square Foot Chart Courtesy of Fidelity National Title
Following prior trends, we would see stable or increasing home values until spring. The recent dip and rise in values at the end of the year may be a self-correction, in which case we could continue to see similar stable pricing trends if inventory remains high. Inventory numbers will continue to be the factor to watch. If inventory declines, which is typical for this time of year, pricing would likely rise, making early 2025 a win for sellers who remain on the market.
How spring will fair remains to be seen, but by all trends, increasing home values show continued demand for Milwaukie.
Milwaukie, Average Days on the Market Matches Seasonal Patterns
The average days on the market in Milwaukie follow what we typically see, with homes experiencing increasingly longer selling times during winter. In just the last two weeks (ending January 6th), the timing shot up from 70 to 93 days, nearing the highs of 2020 and 2021 for the same period. We will likely see a secondary spike in February.
Milwaukie, Oregon Days on the Market Chart Courtesy of Fidelity National Title
Overall, there has been an increase in the days on the market over the last few years during this time period; however, this year appears on par with 2024 and remains consistent with historical patterns over the past four years. Given this, the days on the market will likely decrease until June, when homes sell much faster.
Milwaukie, Oregon Homes for Sale
Browse all Milwaukie homes for sale using the interactive map on Portlandhomesforsale.com.
Milwaukie, Oregon 2025 Real Estate Forecast
Milwaukie’s market at the start of 2025 is a healthy one and should remain that way. Inventory levels are higher than in recent years, but this has been the case since October, and pricing has remained strong throughout that time. Inventory will likely dip as we head toward spring, increasing buyer competition and eventually driving prices higher during the busiest spring season. We forecast the Milwaukie, Oregon real estate market housing prices to increase 3% in 2025.
Average days on the market will likely stick to seasonal patterns, decreasing as buyer activity picks up in late winter and early spring. While demand remains consistent, inventory will be the key factor influencing market dynamics in 2025. Sellers are well-positioned to benefit. Buyers may find better opportunities earlier in the year before competition intensifies.
Ready to Buy or Sell a Home in Milwaukie, Oregon?
Whether you are looking to buy or sell a home in Milwaukie, we would love to be a part of your success story. Our experienced top 1% buyer’s agents are experts at negotiating on behalf of our clients. And our top 1% seller’s agents will employ our optimized marketing strategy to give your home the most exposure for the fastest, most rewarding selling experience (not to mention we charge 1.7% – less than most). We have tons of sales experience in Milwaukie, and we have over 2,000 homes sold overall. Give us a call at 503-714-1111 or chat with the bot on this site. We’d love to connect today!
