Is Portland, OR 97205 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 4% of homes in Portland, OR 97205 sold above their list price, the typical home went under contract in 89 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 27 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (4% then), homes sold more slowly (71 days then) and the median sale price rose 35% to $457,302. Overall, Portland is less competitive than a year ago, which gives buyers more room.

Within Multnomah County, homes here sell more slowly than in 97% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, Portland ranks #154 of 170 OR ZIP codes with enough sales (score 19 out of 100).

Nearby, Portland 97215 (59% sold over asking) and Corbett 97019 (50% sold over asking) are even more competitive.