Is Portland, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Portland is a buyer's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Portland was a Seller's Market.

Key Takeaway

Portland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Portland, OR cost?

Median Sold Price

$530,928

$325/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$16,822(+3.3%)

Key Takeaway

Homes in Portland have sold for 3.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $317.1K$325K
+2.5%
2 $425K$440K
+3.5%
3 $510.6K$534.8K
+4.7%
4 $673.2K$702.3K
+4.3%
5+ $799.9K$854K
+6.8%

Median Sold Price Compared To Nearby Cities

Beaverton
+13.5%
Milwaukie
+4.3%
Portland East
+3.8%
Portland
+3.3%
Portland West
+3.0%

How many homes are available in Portland, OR?

Number of Homes For Sale

Oct 2022Nov 2022%
4,5154,310-4.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 364369
+1.4%
2 1,1151,058
-5.1%
3 1,6671,556
-6.7%
4 951935
-1.7%
5+ 418392
-6.2%

Number of Homes Sold

Oct 2022Nov 2022%
624514-17.6%

Asking Price vs. Sold Price

259 Homes Were Sold
Under Asking

108 Homes Were Sold
At Asking

147 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Portland, you may be able to get a good deal. 50.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
24 Days35 Days+41.9%

Breakdown of Home Sale Times

315 Homes Were Sold
Under 30 Days

148 Homes Were Sold
In 30 - 90 Days

51 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Portland are selling fast, if you're buying plan to act quickly.

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

About Portland, OR

Homes for sale in Portland, OR have reached 4,310. In November 2022 in Portland, OR there were 4.5% less homes for sale than in October 2022. The median list price of listings available in November 2022 was $530,928, while the average time on the real estate market was 35 days. This housing market listing prices have changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 2.5%, 2 bedrooms properties became 3.5% more expensive, 3 bedrooms properties became 4.7% more expensive, the cost of 4 bedrooms properties went up by 4.3%, 5 bedrooms properties became 6.8% more expensive. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes became 1.4% more available, the quantity of 2 bedrooms homes went down by 5.1%, volume of 3 bedrooms homes went down by 6.7%, number of 4 bedrooms homes decreased by 1.7%, number of 5 bedrooms homes decreased by 6.2%. Over 147 listings were sold over their listed price in November 2022 in Portland, OR. In the same period over 259 listings were sold below the listed price and 108 listings were sold for the listed price.

Related Housing Market Reports