Is Portland, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Portland has remained a Seller's Market.
Key Takeaway
Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portland, OR
How much do homes in Portland, OR cost?
Median Sold Price
$537,835
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Portland have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Portland was $537,835 in June 2024, up 0.9% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305.3K | $290K | -5.0% |
| 2 Bedrooms | $412K | $408.4K | -0.9% |
| 3 Bedrooms | $524.9K | $529.9K | +0.9% |
| 4 Bedrooms | $700.6K | $702K | 0.2% |
| 5+ Bedrooms | $852.9K | $882.6K | +3.5% |
Summary: Portland housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Milwaukie | $485K | $500K | +3.1% |
| Portland West | $622.8K | $633.7K | +1.7% |
| Beaverton | $532.5K | $538.6K | +1.1% |
| Portland | $533K | $537.8K | +0.9% |
| Portland East | $500.1K | $494.3K | -1.2% |
Housing Supply in Portland, OR
How many homes are available in Portland, OR?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 4,306 | 4,577 | +6.3% |
Summary: The Portland real estate market had 4,577 homes for sale in June 2024, a 6.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 323 | 358 | +10.8% |
| 2 Bedrooms | 1,057 | 1,122 | +6.1% |
| 3 Bedrooms | 1,432 | 1,509 | +5.4% |
| 4 Bedrooms | 1,030 | 1,080 | +4.9% |
| 5+ Bedrooms | 464 | 508 | +9.5% |
Summary: The Portland housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 975 | 961 | -1.4% |
Asking Price vs. Sold Price
354 Homes Were Sold
Under Asking
228 Homes Were Sold
At Asking
379 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland, you could pay more than the asking price. 39.4% of homes here sold above asking price last month.
Summary: A total of 961 homes were sold or pending in Portland in June 2024, down by 1.4% month-over-month. Of the 961 sold homes, 37% were sold under asking, 24% were sold at asking, and 39% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 24 Days | 33 Days | +34.4% |
Summary: Homes in Portland had an average of 33 days on market in Jun 2024, up by 34.4% compared to last year.
Breakdown of Home Sale Times
689 Homes Were Sold
Under 30 Days
180 Homes Were Sold
In 30 - 90 Days
92 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portland are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 961 homes were sold in Portland; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon. 
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.