Is Portland, OR 97224 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 20% of homes in Portland, OR 97224 sold above their list price, the typical home went under contract in 30 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 198 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 16%, homes sold faster (39 days then) and the median sale price fell 2% to $589,745. Overall, Portland is more competitive than a year ago, so tougher for buyers.

Within Washington County, homes here sell more slowly than in 70% of the county’s ZIP codes, and sell less often over asking than in 65%. On our competition score, Portland ranks #58 of 170 OR ZIP codes with enough sales (score 58 out of 100).

Nearby, buyers who want less competition could look at Timber 97144 (0% sold over asking) or Gales Creek 97117 (0% sold over asking), while Beaverton 97078 (34% sold over asking) and Beaverton 97008 (33% sold over asking) are even more competitive.