Is Portland East, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Portland East has remained a Seller's Market.
Housing Prices in Portland East, OR
How much do homes in Portland East, OR cost?
Median Sold Price
$493,075
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Portland East was $493,075 in May 2024, down 2% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $299.4K | $286.2K | -4.4% |
2 Bedrooms | $408.1K | $399.9K | -2.0% |
3 Bedrooms | $499.9K | $499.9K | 0% |
4 Bedrooms | $635.9K | $649K | +2.1% |
5+ Bedrooms | $748.7K | $808.3K | +8.0% |
Summary: Portland East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 2%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 8%.
Housing Supply in Portland East, OR
How many homes are available in Portland East, OR?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,852 | 2,165 | +16.9% |
Summary: The Portland East real estate market had 2,165 homes for sale in May 2024, a 16.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 67 | 87 | +29.9% |
2 Bedrooms | 575 | 625 | +8.7% |
3 Bedrooms | 699 | 828 | +18.5% |
4 Bedrooms | 370 | 461 | +24.6% |
5+ Bedrooms | 141 | 164 | +16.3% |
Summary: The Portland East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 29.9%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 16.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
446 | 448 | 0.4% |
Asking Price vs. Sold Price
110 Homes Were Sold
Under Asking
90 Homes Were Sold
At Asking
248 Homes Were Sold
Over Asking
Summary: A total of 448 homes were sold or pending in Portland East in May 2024, up by 0.4% month-over-month. Of the 448 sold homes, 25% were sold under asking, 20% were sold at asking, and 55% were sold over asking.
Days on Market for Portland East, OR
How long does it take to sell a home in Portland East, OR?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 25 Days | +5.8% |
Summary: Homes in Portland East had an average of 25 days on market in May 2024, up by 5.8% compared to last year.
Breakdown of Home Sale Times
351 Homes Were Sold
Under 30 Days
59 Homes Were Sold
In 30 - 90 Days
38 Homes Were Sold
Over 90 Days
Summary: During May 2024, 448 homes were sold in Portland East; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.