Is Portland, OR 97209 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 10% of homes in Portland, OR 97209 sold above their list price, the typical home went under contract in 65 days and there were 7.8 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 72 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 3%, homes sold faster (78 days then) and the median sale price held steady to $384,334. Overall, Portland is more competitive than a year ago, so tougher for buyers.

Within Multnomah County, homes here sell more slowly than in 90% of the county’s ZIP codes, and sell less often over asking than in 93%. On our competition score, Portland ranks #158 of 170 OR ZIP codes with enough sales (score 17 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.