$1,140,000
0.43 Acres
Land
Steve Odermann, Nick Odermann, Listing Office: Windermere Realty Trust
Is Portland West, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$641,337
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,915(+3.0%)
Key Takeaway
Homes in Portland West have sold for 3% more than they did a year ago.
Summary: The median home sold price in Portland West was $641,337 in October 2024, up 3% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319.9K | $305K | -4.7% |
| 2 Bedrooms | $475K | $485K | +2.1% |
| 3 Bedrooms | $644K | $655K | +1.7% |
| 4 Bedrooms | $895.5K | $899K | 0.4% |
| 5+ Bedrooms | $1.0M | $1.1M | +4.3% |
Summary: Portland West housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Rockcreek | $626K | $662.9K | +5.9% |
| Lake Oswego | $875K | $926.2K | +5.9% |
| Portland West | $622.4K | $641.3K | +3.0% |
| Portland | $531K | $541.3K | +1.9% |
Housing Supply in Portland West, OR
How many homes are available in Portland West, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,076 | 1,137 | +5.7% |
Summary: The Portland West real estate market had 1,137 homes for sale in October 2024, a 5.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 217 | 246 | +13.4% |
| 2 Bedrooms | 294 | 315 | +7.1% |
| 3 Bedrooms | 245 | 254 | +3.7% |
| 4 Bedrooms | 207 | 210 | +1.4% |
| 5+ Bedrooms | 113 | 112 | -0.9% |
Summary: The Portland West housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 0.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 112 | 140 | +25.0% |
Asking Price vs. Sold Price
70 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
34 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. 50% of homes here sold below asking price last month.
Summary: A total of 140 homes were sold or pending in Portland West in October 2024, up by 25.0% month-over-month. Of the 140 sold homes, 50% were sold under asking, 26% were sold at asking, and 24% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 66 Days | +46.4% |
Summary: Homes in Portland West had an average of 66 days on market in Oct 2024, up by 46.4% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
39 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 October 2024, 140 homes were sold in Portland West; 42% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.