Is Multnomah County, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Multnomah County has remained a Seller's Market.
Key Takeaway
Multnomah County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Multnomah County, OR cost?
Median Sold Price
$499,941
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Multnomah County have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in Multnomah County was $499,941 in August 2023, down 3.2% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $304.5K | -6.3% |
| 2 Bedrooms | $431.6K | $405.1K | -6.1% |
| 3 Bedrooms | $509.9K | $493.2K | -3.3% |
| 4 Bedrooms | $640.1K | $633.3K | -1.1% |
| 5+ Bedrooms | $806.5K | $779.9K | -3.3% |
Summary: Multnomah County housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Counties
| Hood River County | $643.5K | $685K | +6.4% |
| Clark County | $512.5K | $526.3K | +2.7% |
| Clackamas County | $599.2K | $603.1K | +0.6% |
| Washington County | $568.2K | $570.3K | 0.4% |
| Multnomah County | $516.5K | $499.9K | -3.2% |
Housing Supply
How many homes are available in Multnomah County, OR?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 3,246 | 3,442 | +6.0% |
Summary: The Multnomah County real estate market had 3,442 homes for sale in August 2023, a 6.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 260 | 289 | +11.2% |
| 2 Bedrooms | 768 | 849 | +10.5% |
| 3 Bedrooms | 1,234 | 1,291 | +4.6% |
| 4 Bedrooms | 688 | 717 | +4.2% |
| 5+ Bedrooms | 296 | 296 | 0.0% |
Summary: The Multnomah County housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 722 | 751 | +4.0% |
Asking Price vs. Sold Price
295 Homes Were Sold
Under Asking
171 Homes Were Sold
At Asking
285 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Multnomah County, you may be able to get a good deal. 39.3% of homes here sold below asking price last month.
Summary: A total of 751 homes were sold or pending in Multnomah County in August 2023, up by 4.0% month-over-month. Of the 751 sold homes, 39% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market
How long does it take to sell a home in Multnomah County, OR?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 23 Days | 31 Days | +32.1% |
Summary: Homes in Multnomah County had an average of 31 days on market in Aug 2023, up by 32.1% compared to last year.
Breakdown of Home Sale Times
508 Homes Were Sold
Under 30 Days
182 Homes Were Sold
In 30 - 90 Days
61 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Multnomah County are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 751 homes were sold in Multnomah County; 68% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2023 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon. 
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2023 Northwest MLS. All rights reserved.