Is Portland, OR 97216 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 35% of homes in Portland, OR 97216 sold above their list price, the typical home went under contract in 17 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 57 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 38%, homes sold faster (23 days then) and the median sale price held steady to $424,816. Overall, Portland is about as competitive as it was a year ago.

Within Multnomah County, homes here sell faster than in 63% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Portland ranks #8 of 170 OR ZIP codes with enough sales (score 81 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) and Corbett 97019 (50% sold over asking) are even more competitive.