Is Portland, OR 97233 a buyer’s or seller’s market?

The Portland housing market right now

In the three months ending August 31, 2026, 29% of homes in Portland, OR 97233 sold above their list price, the typical home went under contract in 39 days and there were 3.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 79 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 21%, homes sold more slowly (22 days then) and the median sale price rose 1% to $399,827. Overall, Portland is about as competitive as it was a year ago.

Within Multnomah County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell less often over asking than in 60%. On our competition score, Portland ranks #50 of 170 OR ZIP codes with enough sales (score 61 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.