Is East Portland, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Portland is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, East Portland has remained a Seller's Market.

Key Takeaway

East Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in East Portland, OR

How much do homes in East Portland, OR cost?

Median Sold Price

$422,351

$279/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$2,648(-0.6%)

Key Takeaway

Homes in East Portland have sold for 0.6% less than they did a year ago.

Summary: The median home sold price in East Portland was $422,351 in April 2024, down 0.6% from last year, and the median price per square foot was $279.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $190K$209.7K
+10.4%
2 $345K$329.9K
-4.4%
3 $419.9K$424.6K
+1.1%
4 $499.9K$500K
0.0%
5+ $577.5K$562.5K
-2.6%

Summary: East Portland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 1.1%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 2.6%.

Housing Supply in East Portland, OR

How many homes are available in East Portland, OR?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
414460+11.1%

Summary: The East Portland real estate market had 460 homes for sale in April 2024, a 11.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 65
-16.7%
2 7491
+23.0%
3 204213
+4.4%
4 78103
+32.1%
5+ 5248
-7.7%

Summary: The East Portland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes decreased by 7.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
99119+20.2%

Asking Price vs. Sold Price

39 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

49 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Portland, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.

Summary: A total of 119 homes were sold or pending in East Portland in April 2024, up by 20.2% month-over-month. Of the 119 sold homes, 33% were sold under asking, 26% were sold at asking, and 41% were sold over asking.

Days on Market for East Portland, OR

How long does it take to sell a home in East Portland, OR?

Average Sale Time

Apr 2023Apr 2024CHANGE
38 Days44 Days+14.5%

Summary: Homes in East Portland had an average of 44 days on market in Apr 2024, up by 14.5% compared to last year.

Breakdown of Home Sale Times

84 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

21 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in East Portland are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 119 homes were sold in East Portland; 71% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 7 Days Ago

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