Is Northeast Portland, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Northeast Portland has remained a Seller's Market.
Key Takeaway
Northeast Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northeast Portland, OR
How much do homes in Northeast Portland, OR cost?
Median Sold Price
$649,250
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Northeast Portland have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Northeast Portland was $649,250 in April 2024, down 0.8% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $303.7K | $271.8K | -10.5% |
| 2 Bedrooms | $481K | $449.9K | -6.5% |
| 3 Bedrooms | $650.9K | $637K | -2.1% |
| 4 Bedrooms | $803.3K | $826.8K | +2.9% |
| 5+ Bedrooms | $1.0M | $1.0M | +3.0% |
Summary: Northeast Portland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Neighborhoods
| Northeast Portland | $654.5K | $649.2K | -0.8% |
| Vernon | $701.5K | $560K | -20.2% |
Housing Supply in Northeast Portland, OR
How many homes are available in Northeast Portland, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 188 | 259 | +37.8% |
Summary: The Northeast Portland real estate market had 259 homes for sale in April 2024, a 37.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 53 | 83 | +56.6% |
| 3 Bedrooms | 64 | 81 | +26.6% |
| 4 Bedrooms | 42 | 59 | +40.5% |
| 5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The Northeast Portland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 56.6%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 40.5%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 61 | +79.4% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeast Portland, you could pay more than the asking price. 44.3% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Northeast Portland in April 2024, up by 79.4% month-over-month. Of the 61 sold homes, 36% were sold under asking, 20% were sold at asking, and 44% were sold over asking.
Days on Market for Northeast Portland, OR
How long does it take to sell a home in Northeast Portland, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 30 Days | -24.5% |
Summary: Homes in Northeast Portland had an average of 30 days on market in Apr 2024, down by 24.5% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northeast Portland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 61 homes were sold in Northeast Portland; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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