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.
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
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
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
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.