Is Portland West, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Portland West was a Seller's Market.
Key Takeaway
Portland West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Portland West, OR
How much do homes in Portland West, OR cost?
Median Sold Price
$630,037
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Portland West have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Portland West was $630,037 in May 2024, up 1.3% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $305K | -6.2% |
| 2 Bedrooms | $475K | $479.7K | +1.0% |
| 3 Bedrooms | $651.8K | $656.5K | +0.7% |
| 4 Bedrooms | $905K | $915K | +1.1% |
| 5+ Bedrooms | $1.1M | $1.0M | -3.6% |
Summary: Portland West housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Skyline | $640K | $680K | +6.3% |
| Rockcreek | $613K | $648.3K | +5.8% |
| Lake Oswego | $873.3K | $889.9K | +1.9% |
| Portland West | $621.9K | $630K | +1.3% |
| Portland | $532.1K | $538.6K | +1.2% |
Housing Supply in Portland West, OR
How many homes are available in Portland West, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,047 | 1,209 | +15.5% |
Summary: The Portland West real estate market had 1,209 homes for sale in May 2024, a 15.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 227 | 254 | +11.9% |
| 2 Bedrooms | 296 | 312 | +5.4% |
| 3 Bedrooms | 234 | 274 | +17.1% |
| 4 Bedrooms | 178 | 237 | +33.1% |
| 5+ Bedrooms | 112 | 132 | +17.9% |
Summary: The Portland West housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.9%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 33.1%, and 5+ bedroom homes increased by 17.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 151 | 165 | +9.3% |
Asking Price vs. Sold Price
78 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland West, you may be able to get a good deal. 47.3% of homes here sold below asking price last month.
Summary: A total of 165 homes were sold or pending in Portland West in May 2024, up by 9.3% month-over-month. Of the 165 sold homes, 47% were sold under asking, 24% were sold at asking, and 28% were sold over asking.
Days on Market for Portland West, OR
How long does it take to sell a home in Portland West, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 38 Days | +20.9% |
Summary: Homes in Portland West had an average of 38 days on market in May 2024, up by 20.9% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portland West are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 165 homes were sold in Portland West; 65% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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