Is Multnomah County, OR a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Multnomah County is a seller'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



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

# BEDSAug 2022Aug 2023CHANGE
1 $325K$304.5K
2 $431.6K$405.1K
3 $509.9K$493.2K
4 $640.1K$633.3K
5+ $806.5K$779.9K

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
Clark County
Clackamas County
Washington County
Multnomah County

Housing Supply

How many homes are available in Multnomah County, OR?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

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

# BEDSJul 2023Aug 2023CHANGE
1 260289
2 768849
3 1,2341,291
4 688717
5+ 296296

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 2023Aug 2023CHANGE

Asking Price vs. Sold Price

295 Homes Were Sold
Under Asking

171 Homes Were Sold
At Asking

285 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2022Aug 2023CHANGE
23 Days31 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

Breakdown of Home Sale Times

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.

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

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Multnomah County, OR?