Is Portland, 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, Portland was a Seller's Market.
Housing Prices in Portland, OR
How much do homes in Portland, OR cost?
Median Sold Price
$539,441
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Portland was $539,441 in March 2024, up 0.5% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $315K | $290.3K | -7.8% |
2 Bedrooms | $425K | $411.9K | -3.1% |
3 Bedrooms | $531.2K | $526.3K | -0.9% |
4 Bedrooms | $701.5K | $706.8K | +0.8% |
5+ Bedrooms | $854.4K | $883K | +3.3% |
Summary: Portland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Portland | $536.7K | $539.4K | 0.5% |
Milwaukie | $490K | $490.5K | 0.1% |
Portland West | $633.4K | $624.9K | -1.4% |
Beaverton | $546K | $530.8K | -2.8% |
Portland East | $515.1K | $495.1K | -3.9% |
Housing Supply in Portland, OR
How many homes are available in Portland, OR?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5,048 | 5,451 | +8.0% |
Summary: The Portland real estate market had 5,451 homes for sale in March 2024, a 8.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 480 | 523 | +9.0% |
2 Bedrooms | 1,283 | 1,403 | +9.4% |
3 Bedrooms | 1,556 | 1,673 | +7.5% |
4 Bedrooms | 1,120 | 1,210 | +8.0% |
5+ Bedrooms | 609 | 642 | +5.4% |
Summary: The Portland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
517 | 611 | +18.2% |
Asking Price vs. Sold Price
217 Homes Were Sold
Under Asking
149 Homes Were Sold
At Asking
245 Homes Were Sold
Over Asking
Summary: A total of 611 homes were sold or pending in Portland in March 2024, up by 18.2% month-over-month. Of the 611 sold homes, 36% were sold under asking, 24% were sold at asking, and 40% were sold over asking.
Days on Market for Portland, OR
How long does it take to sell a home in Portland, OR?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 44 Days | +11.6% |
Summary: Homes in Portland had an average of 44 days on market in Mar 2024, up by 11.6% compared to last year.
Breakdown of Home Sale Times
380 Homes Were Sold
Under 30 Days
129 Homes Were Sold
In 30 - 90 Days
102 Homes Were Sold
Over 90 Days
Summary: During March 2024, 611 homes were sold in Portland; 62% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.