We keep our finger on the pulse of the Portland suburban real estate market and report our findings in our Portland Suburban Real Estate Market Report. To learn more about the entire Portland metropolitan market, read our latest monthly report.
This month, you'll visit the suburb of Sherwood, located about 16 miles southwest of Downtown Portland in Washington County. Sherwood is a small town (population 20,000) that offers a unique lifestyle in wine country. Winemakers here include Ponzi Vineyards, Alloro Vineyards, and Blakeslee Vineyards. Old Town Sherwood, in the center of the city, is a lovely downtown with antique shops, great food, coffee, specialty shops, and historic architecture. It hosts numerous annual events, including the Sherwood Robin Hood Festival, and is also home to Cooper Mountain Ale Works. Sherwood has 13 parks for community enjoyment and has been named one of the safest suburbs in the Portland metropolitan area.
Below, we analyze the factors that most influence the performance of the Sherwood, Oregon housing market.
Sherwood's housing inventory is on the rise
Housing inventory in Sherwood is currently at its highest level in several years and continues to grow. Each year in the Portland metropolitan real estate market, housing inventory begins to increase in the spring and continues to grow through the end of the year. As you can see from the graph below, housing inventory in Sherwood has followed this pattern for the past few years. Housing inventory in this area is expected to continue to grow for the foreseeable future as fewer buyers are actively searching for homes and more new listings are added to the market.
Sherwood, Oregon inventory chart provided by Fidelity National Title
Sherwood property prices are stable
Sherwood real estate prices, measured on a price per square foot basis, have remained largely unchanged over the past year. The Portland metropolitan area housing market operates on seasonal cycles. Each spring, waves of new homebuyers enter the market, creating competition for available homes and driving up prices. However, as shown in the Fidelity chart below, Sherwood home prices have remained relatively unaffected by seasonal fluctuations over the past few years (with the exception of 2022, when prices rose significantly in the spring). Prices in Sherwood fell slightly near the end of the spring, and with housing inventory now increasing, prices in this suburb are expected to stabilize or decline slightly later this year.
The Portland metropolitan area housing market saw an overall decline in average prices in 2023, but Washington County, which includes the suburb of Sherwood, was one of the few exceptions. Homes in the area experienced a 1% price increase compared to the same period in 2023. As the spring sellers' market draws to a close and new homes are being added to the market every day, prices may decline slightly or remain stable.
Price per Square Foot List for Sherwood, Oregon. Courtesy of Fidelity National Title
Sherwood's average days on sale
In early March, the average number of days homes in Sherwood were on the market hit an all-time high and has since declined steadily. Homes currently for sale in Sherwood are on the market for an average of 85 days, slightly longer than this time last year but much higher than 2022, as you can see from the chart below. While spring is typically the most productive season for the Portland metropolitan area real estate market, the consistent decline in Sherwood's time on market indicates continued buyer activity. Based on 2023 market patterns, this decline is expected to continue through the summer.
Average Days on Market Chart for Sherwood, Oregon. Courtesy of Fidelity National Title
Homes for Sale in Sherwood, Oregon
Browse all Sherwood homes for sale using Portlandhomesforsale.com's interactive map.
Sherwood, Oregon Real Estate Forecast 2025
The number of homes on the market in the suburb of Sherwood has reached its highest level in recent years and is still increasing. The market is beginning to settle and prices are stabilizing, but homes for sale are spending less time on the market, indicating there are still active buyers in the market. We expect Sherwood's housing inventory to continue to increase through the rest of the year, with home prices expected to decline slightly as fall approaches.
High mortgage rates and continued inflation have slowed the real estate market across the Portland metropolitan area in 2023. With mortgage rates slightly lower this year, the Sherwood market is expected to begin to gain momentum heading into a fruitful spring 2025 selling season.
We predict prices in Sherwood, Oregon will increase 5% in 2025 due to expected lower interest rates and continued strong performance in Portland suburbs.
Are you ready to buy or sell a home in Sherwood, Oregon?
Whether you are looking to buy or sell, take advantage of our experience. Contact one of our top 1% sellers agents to leverage optimized marketing strategies to ensure the best home selling experience possible. Likewise, if you are considering moving to Sherwood, our top 1% buyers agents would be happy to assist you in your search for your dream home. Call us at 503-714-1111. We look forward to hearing from you.