Is Portland, OR 97212 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 50% of homes in Portland, OR 97212 sold above their list price, the typical home went under contract in 6 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 106 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 42%, homes sold faster (19 days then) and the median sale price rose 10% to $894,613. Overall, Portland is more competitive than a year ago, so tougher for buyers.

Within Multnomah County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 93%. On our competition score, Portland ranks #2 of 170 OR ZIP codes with enough sales (score 92 out of 100).

Nearby, buyers who want less competition could look at Portland 97205 (4% sold over asking) or Portland 97201 (9% sold over asking), while Portland 97215 (59% sold over asking) is even more competitive.