Is Southwest 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, Southwest Portland has remained a Seller's Market.
Key Takeaway
Southwest Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Portland, OR
How much do homes in Southwest Portland, OR cost?
Median Sold Price
$610,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest Portland have sold for 5.2% less than they did a year ago.
Summary: The median home sold price in Southwest Portland was $610,000 in April 2024, down 5.2% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $315K | -1.6% |
| 2 Bedrooms | $485K | $461.2K | -4.9% |
| 3 Bedrooms | $624.9K | $600K | -4.0% |
| 4 Bedrooms | $799.2K | $780K | -2.4% |
| 5+ Bedrooms | $934.9K | $875K | -6.4% |
Summary: Southwest Portland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 6.4%.
Housing Supply in Southwest Portland, OR
How many homes are available in Southwest Portland, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 255 | 327 | +28.2% |
Summary: The Southwest Portland real estate market had 327 homes for sale in April 2024, a 28.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 22 | -4.3% |
| 2 Bedrooms | 59 | 70 | +18.6% |
| 3 Bedrooms | 88 | 129 | +46.6% |
| 4 Bedrooms | 63 | 75 | +19.0% |
| 5+ Bedrooms | 22 | 31 | +40.9% |
Summary: The Southwest Portland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 46.6%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 40.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 64 | +23.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Portland, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Southwest Portland in April 2024, up by 23.1% month-over-month. Of the 64 sold homes, 48% were sold under asking, 16% were sold at asking, and 36% were sold over asking.
Days on Market for Southwest Portland, OR
How long does it take to sell a home in Southwest Portland, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 30 Days | -24.0% |
Summary: Homes in Southwest Portland had an average of 30 days on market in Apr 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Portland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 64 homes were sold in Southwest Portland; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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