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.
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
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
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
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.