Is Multnomah County, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Multnomah County was a Seller's Market.
Housing Prices in Multnomah County, OR
How much do homes in Multnomah County, OR cost?
Median Sold Price
$499,969
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Multnomah County was $499,969 in March 2024, down 3.2% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $315K | $298.7K | -5.1% |
2 Bedrooms | $419.9K | $406.5K | -3.2% |
3 Bedrooms | $505.8K | $495.7K | -2.0% |
4 Bedrooms | $641.6K | $639.7K | -0.3% |
5+ Bedrooms | $800.6K | $799.9K | -0.1% |
Summary: Multnomah County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Counties
Clark County | $525K | $535.7K | +2.0% |
Hood River County | $675K | $677.6K | 0.4% |
Clackamas County | $608.4K | $610K | 0.2% |
Washington County | $579.8K | $579.9K | 0.0% |
Multnomah County | $516.7K | $499.9K | -3.2% |
Housing Supply in Multnomah County, OR
How many homes are available in Multnomah County, OR?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4,284 | 4,618 | +7.8% |
Summary: The Multnomah County real estate market had 4,618 homes for sale in March 2024, a 7.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 460 | 498 | +8.3% |
2 Bedrooms | 1,148 | 1,235 | +7.6% |
3 Bedrooms | 1,416 | 1,520 | +7.3% |
4 Bedrooms | 853 | 923 | +8.2% |
5+ Bedrooms | 407 | 442 | +8.6% |
Summary: The Multnomah County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 8.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
431 | 527 | +22.3% |
Asking Price vs. Sold Price
190 Homes Were Sold
Under Asking
128 Homes Were Sold
At Asking
209 Homes Were Sold
Over Asking
Summary: A total of 527 homes were sold or pending in Multnomah County in March 2024, up by 22.3% month-over-month. Of the 527 sold homes, 36% were sold under asking, 24% were sold at asking, and 40% were sold over asking.
Days on Market for Multnomah County, OR
How long does it take to sell a home in Multnomah County, OR?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 44 Days | +3.2% |
Summary: Homes in Multnomah County had an average of 44 days on market in Mar 2024, up by 3.2% compared to last year.
Breakdown of Home Sale Times
322 Homes Were Sold
Under 30 Days
112 Homes Were Sold
In 30 - 90 Days
93 Homes Were Sold
Over 90 Days
Summary: During March 2024, 527 homes were sold in Multnomah County; 61% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.