Is Portland, IN 47371 a buyer’s or seller’s market?
Portland is a seller’s market. With about 1.3 months of supply and 24% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 61% of U.S. ZIP codes, and #106 of 306 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Portland housing market right now
In the three months ending August 31, 2026, 24% of homes in Portland, IN 47371 sold above their list price, the typical home went under contract in 17 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 17 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 15%, homes sold more slowly (7 days then) and the median sale price rose 23% to $184,920. Overall, Portland is more competitive than a year ago, so tougher for buyers.
Within Jay County, homes here sell faster than in 50% of the county’s ZIP codes, and sell more often over asking than in 75%. On our competition score, Portland ranks #106 of 306 IN ZIP codes with enough sales (score 59 out of 100).
Nearby, buyers who want less competition could look at Pennville 47369 (0% sold over asking) or Bryant 47326 (0% sold over asking), while Redkey 47373 (33% sold over asking) is even more competitive.
Run the numbers for 47371
Nearby markets
Bryant 47326Seller’s market $390 /sq ftDunkirk 47336Balanced $84 /sq ftPennville 47369 $69 /sq ftRedkey 47373Seller’s market $109 /sq ft Browse all markets →Towns like Portland nearby
Find towns like Portland in other states →Where Portland is
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Questions about Portland real estate
Is Portland a buyer’s or seller’s market?
A seller’s market: there were 1.3 months of supply in Portland, IN 47371 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Portland?
The typical home went under contract in 17 days in the latest three months.
Do homes in Portland sell over asking?
24% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Portland?
About 0.60% of a home’s value a year in Jay County, or roughly $2,400 on a $400,000 home.
What is the median home price in Portland?
The median sale price was $184,920 in the three months ending August 31, 2026, about $111 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology