Is Portland Downtown, 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 Downtown was a Seller's Market.
Key Takeaway
Portland Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Portland Downtown, OR
How much do homes in Portland Downtown, OR cost?
Median Sold Price
$359,500
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Portland Downtown has remained the same since last year.
Summary: The median home sold price in Portland Downtown was $359,500 in March 2024, down 0.1% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277.5K | $255K | -8.1% |
| 2 Bedrooms | $430.3K | $452.5K | +5.2% |
| 3 Bedrooms | $675K | $612K | -9.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Portland Downtown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.1%, 2 bedroom homes increased by 5.2%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Portland Downtown | $360K | $359.5K | -0.1% |
| Goose Hollow | $380K | $350K | -7.9% |
| Pearl District | $497.5K | $455K | -8.5% |
| Buckman | $726.2K | $658.6K | -9.3% |
Housing Supply in Portland Downtown, OR
How many homes are available in Portland Downtown, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 163 | 179 | +9.8% |
Summary: The Portland Downtown real estate market had 179 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 60 | 65 | +8.3% |
| 2 Bedrooms | 79 | 86 | +8.9% |
| 3 Bedrooms | 23 | 27 | +17.4% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Portland Downtown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 17.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland Downtown, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Portland Downtown in March 2024, up by 75.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% were sold over asking.
Days on Market for Portland Downtown, OR
How long does it take to sell a home in Portland Downtown, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 58 Days | -20.8% |
Summary: Homes in Portland Downtown had an average of 58 days on market in Mar 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Portland Downtown has remained consistent over time.
Summary: During March 2024, 14 homes were sold in Portland Downtown; 36% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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