It’s time again to take a closer look at real estate trends in a specific suburb of Portland, Oregon. Each month we review local data against Portland as a whole, so you can see how the suburb compares to the city average to understand local opportunities as a buyer or seller.
This month we turn our attention to Happy Valley. The city is located about 12 miles (19 kilometers) east of downtown Portland in Clackamas County. It’s one community with planned growth designed to integrate commercial centers, walking trails and 11 city parks. It provides residents with easy access to beautiful natural areas, including the Clackamas River Scenic Waterway. There is plenty to explore within the city limits, including the famous ones Pickathon music festival that attracts a large audience every year. Locals also enjoy popular spots such as Stickmen brewery and the Happy valley stationa food cart haven with more than 18 trucks and a dedicated taproom.
If you want to know more about life in Happy Valley, we have an article dedicated to it. If you would like to check out other areas, check out our full list of Portland Suburb Real Estate Market Reports. For a broader overview of the metro area, we also recommend reading our current monthly Portland real estate market report.
Now let’s take a look at the numbers shaping the housing market as we head into 2026.
Housing inventory in Happy Valley, Oregon declines seasonally
Inventory in Happy Valley follows a classic seasonal pattern, with inventory falling as we close out the year. They will be available from December 12, 2025 94 homes on the market. This represents a continued decline from last month, when inventory levels remained roughly level 110 houses, and a significant decrease compared to two months ago, when this was still the case 123 active listings. This “winter lull” also reflects the broader trend in Portland, where inventories also fell sharply 1,639 two months ago until 1,204 Today.
Happy Valley, Oregon Inventory Chart. Thanks to Allegiance national title.
Inventory in Happy Valley is actually higher now than at the same time in the previous three years (cf 94 today until 88 in 2024 and 64 2022). Portland in general sees the exact same problem 1,204 active listings compared to 1,143 this time last year. While choices dwindle during the holidays, shoppers still have more options than they’ve had in recent history.
Real estate prices in Happy Valley, Oregon are slowly falling
We calculate the median home price using price per square foot data, the most consistent measure of value for Portland. From December 12, the price per square meter in Happy Valley $276. This is pretty much the same as last month $275 but is showing a recovery compared to two months ago, when prices fell $263.
Happy Valley, price per square meter chart. Thanks to Allegiance national title.
Despite this recent stability, the long-term trend shows a decline in value compared to previous years. At the same time in 2024 was the price $285. That was the case in 2023 $286and in 2022 that was the case $292.
The year-over-year decline indicates that a market correction is still underway for sellers, and this is not isolated to Happy Valley. Values have fallen across Portland $319 per square meter in 2024 to $312 Today. Still, Happy Valley remains a more affordable option compared to the Portland metro average.
Happy Valley, Oregon The average number of days on market is increasing
The market has slowed down significantly. It now takes longer for houses to be sold than in previous years. The average time on market is December 12th 153 to dawn. This is a slight increase compared to 152 days last month and 149 days of the month before.
Happy Valley, Oregon Average days on the market chart. Thanks to Allegiance national title.
When we compare this with previous years, the slowdown becomes much clearer. At this point in 2024, the average was up 138 to dawn. That was the case in 2023 126 days, and in 2022 it was business as usual 121 to dawn. This steady increase in days is a sign that buyers are taking their time and being more selective before purchasing.
Portland is seeing a similar slowdown, rising from 116 days in 2024 until 125 days today, but Happy Valley is noticeably slower than the metro average (153 days vs. 125 days), which means sellers need more patience.
Happy Valley, Oregon Homes for Sale
Browse all Oregon City, homes for sale using the interactive map on portlandhomesforsale.com.
Happy Valley, Oregon 2026 Real Estate Forecast
The data shows a changing landscape for the Happy Valley housing market and for Portland in general. Year-over-year trends indicate a continued cooldown, even as we approach the busy spring season. This will continue until something else comes into play that will shake up the market, such as lower interest rates. With inventory levels higher than in the previous three December months and the average number of days on market stretching to 153 days, the growth rate of recent years has noticeably slowed and shows no signs of any significant correction in the short term.
Happy Valley will likely follow the traditional seasonal cycle, starting slowly in the winter months before increasing activity and prices in the spring. However, as the price per square meter is currently lower than in 2024 and 2023, this year could be a year of stabilization rather than growth.
This is all good news for buyers entering the market in 2026. They will benefit from greater inventory and less competition than in previous years, giving them more leverage in negotiations and a chance to find a home that really appeals to them.
Sellers must prepare for longer market times and price their homes competitively to attract buyers.
There is renewed optimism for the real estate market in 2026, with continued interest rate cuts. It is reasonable to hope that the Happy Valley real estate market will remain flat in 2026 and that prices that have been slowly declining in recent years will level off and stabilize. For prices to rise, interest rate cuts and the overall local economy would need to improve more than currently expected.
Ready to buy or sell a home in Happy Valley, Oregon?
Whether you are looking to buy or sell a home in Happy Valley, we want to be 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 use our optimized marketing strategy to give your home the most exposure for the fastest, most rewarding selling experience (not to mention we charge less than most). We have extensive sales experience in Happy Valley and have sold over 2,000 local homes in total. Call us at 503-714-1111 or chat with the bot on this site. We would love to get in touch today!
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