Is Portland, OR 97204 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Portland is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Portland housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Multnomah County, OR

Population	885
Average income	$49,356
Median rent	$807/month
Owner-occupied	5% of homes
Median year built	1938

Natural hazard riskEarthquakes (very high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 97204; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 97204

Prefilled for 97204Can I win this house?Multiple-offer likelihood for a listing Prefilled for 97204Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Corbett 97019Balanced $309 /sq ft Fairview 97024Seller’s market $284 /sq ft Gresham 97030Seller’s market $254 /sq ft Gresham 97080Seller’s market $269 /sq ft Browse all markets →

Where Portland is

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Questions about Portland real estate

What are property taxes in Portland?

About 0.96% of a home’s value a year in Multnomah County, or roughly $3,840 on a $400,000 home.

Local agents

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More tools for 97204

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Multnomah County property taxes Multnomah County loan limits Closing costs in Oregon Hottest ZIP codes in Oregon

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology