Is Portland, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Portland has remained a Seller's Market.
Housing Prices in Portland, OR
How much do homes in Portland, OR cost?
Median Sold Price
$537,475
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Portland was $537,475 in April 2024, up 0.3% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $312.4K | $291.5K | -6.7% |
2 Bedrooms | $420K | $409.4K | -2.5% |
3 Bedrooms | $529.9K | $528.3K | -0.3% |
4 Bedrooms | $699.8K | $712K | +1.7% |
5+ Bedrooms | $855K | $886.5K | +3.7% |
Summary: Portland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
Portland | $535.6K | $537.4K | 0.3% |
Milwaukie | $490K | $490.2K | 0.1% |
Portland West | $625.1K | $625K | 0% |
Beaverton | $538.2K | $533.3K | -0.9% |
Portland East | $510.8K | $494.3K | -3.2% |
Housing Supply in Portland, OR
How many homes are available in Portland, OR?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3,097 | 3,695 | +19.3% |
Summary: The Portland real estate market had 3,695 homes for sale in April 2024, a 19.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 287 | 309 | +7.7% |
2 Bedrooms | 838 | 980 | +16.9% |
3 Bedrooms | 998 | 1,204 | +20.6% |
4 Bedrooms | 645 | 821 | +27.3% |
5+ Bedrooms | 329 | 381 | +15.8% |
Summary: The Portland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 16.9%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
682 | 774 | +13.5% |
Asking Price vs. Sold Price
270 Homes Were Sold
Under Asking
166 Homes Were Sold
At Asking
338 Homes Were Sold
Over Asking
Summary: A total of 774 homes were sold or pending in Portland in April 2024, up by 13.5% month-over-month. Of the 774 sold homes, 35% were sold under asking, 21% were sold at asking, and 44% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 36 Days | +11.0% |
Summary: Homes in Portland had an average of 36 days on market in Apr 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
540 Homes Were Sold
Under 30 Days
140 Homes Were Sold
In 30 - 90 Days
94 Homes Were Sold
Over 90 Days
Summary: During April 2024, 774 homes were sold in Portland; 70% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.