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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Portland East is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Portland East, OR

How much do homes in Portland East, OR cost?

Median Sold Price

$495,171

$308/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$19,978(-3.9%)

Key Takeaway

Homes in Portland East have sold for 3.9% less than they did a year ago.

Summary: The median home sold price in Portland East was $495,171 in March 2024, down 3.9% from last year, and the median price per square foot was $308.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $299.9K$290.7K
-3.1%
2 $419.1K$401K
-4.3%
3 $509.8K$499.8K
-2.0%
4 $647.2K$646.8K
-0.1%
5+ $760K$794.8K
+4.6%

Summary: Portland East housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.1%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 4.6%.

Median Sold Price Compared To Nearby Cities

Gresham
+1.1%
Portland
0.5%
Milwaukie
0.1%
Portland East
-3.9%

Housing Supply in Portland East, OR

How many homes are available in Portland East, OR?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,3332,528+8.4%

Summary: The Portland East real estate market had 2,528 homes for sale in March 2024, a 8.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 98109
+11.2%
2 656708
+7.9%
3 878957
+9.0%
4 466504
+8.2%
5+ 235250
+6.4%

Summary: The Portland East housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 6.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
266330+24.1%

Asking Price vs. Sold Price

106 Homes Were Sold
Under Asking

76 Homes Were Sold
At Asking

148 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Portland East, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.

Summary: A total of 330 homes were sold or pending in Portland East in March 2024, up by 24.1% month-over-month. Of the 330 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% were sold over asking.

Days on Market for Portland East, OR

How long does it take to sell a home in Portland East, OR?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days42 Days+1.6%

Summary: Homes in Portland East had an average of 42 days on market in Mar 2024, up by 1.6% compared to last year.

Breakdown of Home Sale Times

204 Homes Were Sold
Under 30 Days

71 Homes Were Sold
In 30 - 90 Days

55 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 330 homes were sold in Portland East; 62% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

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

Report Updated 27 Days Ago

Newest Listings in Portland East, OR

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