Is Portland, OR 97201 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 9% of homes in Portland, OR 97201 sold above their list price, the typical home went under contract in 69 days and there were 5.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 59 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 6%, homes sold faster (81 days then) and the median sale price rose 8% to $438,810. Overall, Portland is more competitive than a year ago, so tougher for buyers.

Within Multnomah County, homes here sell more slowly than in 93% of the county’s ZIP codes, and sell less often over asking than in 97%. On our competition score, Portland ranks #159 of 170 OR ZIP codes with enough sales (score 15 out of 100).

Nearby, buyers who want less competition could look at Portland 97205 (4% sold over asking), while Portland 97215 (59% sold over asking) and Corbett 97019 (50% sold over asking) are even more competitive.