Each month we feature one of Portland's many unique suburbs and share our assessment of its housing market to help guide your real estate buying decision. You can see all the suburbs we've featured in our Portland Suburban Real Estate Market Report, or read our latest monthly report for an overview of the Portland metropolitan area's real estate market as a whole.
This month, we focus on the suburb of Sandy, located in Clackamas County, about 30 miles east of Downtown Portland. Named for the nearby Sandy River, the suburb serves as the western gateway to the Mt. Hood Corridor. A small town of about 13,000 people, Sandy sits at the foot of the Cascade Mountains, offering residents a more rugged, outdoor lifestyle. The town is home to a number of beer spots, including Boring Brewing Company and The Beer Den. Sandy has a vibrant historic district with plenty of shops, food, and coffee. The suburb of Sandy also has 16 parks for community recreation. Whether you're looking for a place to explore on your way to Mt. Hood or a beautiful place to live, the city has a lot to offer.
Let's take a look at the numbers shaping the housing market in Sandy, Oregon.
Sandy's housing inventory is on the rise
Sandy's inventory of homes for sale has been steadily increasing since May and continues to trend upward. The local real estate market operates on a seasonal cycle, with the majority of home sales occurring in the spring and home inventory beginning to increase after sales peak and continuing to increase through the fall. As shown in the graph below, Sandy's home inventory has continued to increase from summer to fall for the past few years (except for 2023). With the active selling season now over, Sandy's inventory of listed homes should continue to increase as fewer interested buyers search for homes and new listings continue to come on the market.
Sandy, Oregon inventory provided by Fidelity National Title
Sandy's real estate prices are stable
Sandy home prices (calculated by price per square foot) have remained fairly stable over the past 12 months and are currently slightly below July 2023 prices. Typically, the spring season would be expected to see significant price increases across the Portland metropolitan area real estate market, but as you can see in the Fidelity chart below, price increases in the suburb of Sandy have been moderate during the month except for 2022. As the spring sellers' market ends and more homes continue to come up for sale, Sandy home prices may begin to decline slightly in the coming months.
While home prices in the Portland metropolitan area fell overall in 2023, the suburb of Sandy (and Clackamas County, where Sandy is located) saw prices increase an average of 0.9% over the past 12 months (compared to the 12 months prior). Prices in this region have tended to be gradual and mostly stable in recent years, so we should see a slight price decline in the coming months and overall price stability through the end of the year.
Price per square foot in Sandy, Oregon. Courtesy of Fidelity National Title
Sandy's average days on market
In February, homes for sale in Sandy recorded the longest number of days on the market in recent history, but since then, the number of days has begun to steadily decrease. Currently, the average number of days homes in Sandy remain on the market is 91 days, which is higher than this time of year in the past three years (see chart below). In the Portland metropolitan area housing market, homes typically sell fastest in the spring, but this continued decrease in days on the market indicates that homes in Sandy continue to sell well. Homes for sale in this suburb may continue to experience a decrease in days on the market in the near future due to the lingering effects of the recent sellers' market. However, with inventory currently increasing, an increasing supply of homes will likely result in homes remaining on the market longer over time.
Sandy, Oregon average days on market chart. Courtesy of Fidelity National Title.
Sandy, Oregon Homes for Sale
Browse all Sandy homes for sale using Portlandhomesforsale.com's interactive map.
Sandy, Oregon Real Estate Forecast for 2025
As summer progresses and we move away from the peak of real estate productivity that comes in the spring, Sandy's inventory of homes available for sale is steadily increasing. At the same time, home prices in Sandy are currently stable and the market time for homes for sale continues to decrease. These two factors (stagnant home prices and decreasing market time) indicate that homes are still selling. However, as the local real estate market cools off as summer approaches, prices in Sandy are expected to decrease as inventory continues to increase over the coming months.
The conditions that negatively affected the Portland housing market in 2023, namely high mortgage rates and ongoing inflation, continue to impact market performance this year. With some declines in mortgage rates in 2024, we expect the Sandy housing market to begin to recover as we approach spring 2025. As such, taking into account the slight increase in Sandy real estate prices in 2023, we expect the Sandy, Oregon real estate market to rise by over 3% in 2025.
Are you ready to buy or sell a home in Sandy, Oregon?
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