Is West-Northwest Portland, 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, West-Northwest Portland was a Seller's Market.
Key Takeaway
West-Northwest Portland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West-Northwest Portland, OR
How much do homes in West-Northwest Portland, OR cost?
Median Sold Price
$517,000
$366/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West-Northwest Portland have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in West-Northwest Portland was $517,000 in March 2024, down 0.6% from last year, and the median price per square foot was $366.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $349K | $309K | -11.5% |
| 2 Bedrooms | $500K | $550K | +10.0% |
| 3 Bedrooms | $728.5K | $780K | +7.1% |
| 4 Bedrooms | $1.0M | $970K | -11.6% |
| 5+ Bedrooms | $1.1M | $1.1M | -3.0% |
Summary: West-Northwest Portland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.5%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Neighborhoods
| West-Northwest Portland | $520K | $517K | -0.6% |
| Forest Park | $1.1M | $1.0M | -9.9% |
Housing Supply in West-Northwest Portland, OR
How many homes are available in West-Northwest Portland, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 702 | 771 | +9.8% |
Summary: The West-Northwest Portland real estate market had 771 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 | 261 | 283 | +8.4% |
| 2 Bedrooms | 260 | 289 | +11.2% |
| 3 Bedrooms | 68 | 76 | +11.8% |
| 4 Bedrooms | 63 | 70 | +11.1% |
| 5+ Bedrooms | 50 | 53 | +6.0% |
Summary: The West-Northwest Portland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 41 | +41.4% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West-Northwest Portland, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in West-Northwest Portland in March 2024, up by 41.4% month-over-month. Of the 41 sold homes, 46% were sold under asking, 24% were sold at asking, and 29% were sold over asking.
Days on Market for West-Northwest Portland, OR
How long does it take to sell a home in West-Northwest Portland, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 56 Days | +1.2% |
Summary: Homes in West-Northwest Portland had an average of 56 days on market in Mar 2024, up by 1.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West-Northwest Portland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 41 homes were sold in West-Northwest Portland; 44% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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