$6,116 Closing Credit*
$515,000
1,178 SqFt
3 Beds
•2 Full Baths
Stephanie Needham, Listing Office: Windermere Realty Trust
Is Southwest Portland, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Southwest Portland has remained a Seller's Market.
Key Takeaway
Southwest Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Portland, OR
How much do homes in Southwest Portland, OR cost?
Median Sold Price
$625,000
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,400(+1.5%)
Key Takeaway
Homes in Southwest Portland have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Southwest Portland was $625,000 in October 2024, up 1.5% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $320K | -1.5% |
| 2 Bedrooms | $475K | $450K | -5.3% |
| 3 Bedrooms | $586.3K | $625K | +6.6% |
| 4 Bedrooms | $784.9K | $766.5K | -2.4% |
| 5+ Bedrooms | $875K | $965K | +10.3% |
Summary: Southwest Portland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 10.3%.
Housing Supply in Southwest Portland, OR
How many homes are available in Southwest Portland, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 349 | 372 | +6.6% |
Summary: The Southwest Portland real estate market had 372 homes for sale in October 2024, a 6.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 18 | +20.0% |
| 2 Bedrooms | 79 | 91 | +15.2% |
| 3 Bedrooms | 123 | 131 | +6.5% |
| 4 Bedrooms | 100 | 100 | 0.0% |
| 5+ Bedrooms | 32 | 32 | 0.0% |
Summary: The Southwest Portland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 66 | +8.2% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Portland, you may be able to get a good deal. 42.4% of homes here sold below asking price last month.
Summary: A total of 66 homes were sold or pending in Southwest Portland in October 2024, up by 8.2% month-over-month. Of the 66 sold homes, 42% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for Southwest Portland, OR
How long does it take to sell a home in Southwest Portland, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 45 Days | +70.0% |
Summary: Homes in Southwest Portland had an average of 45 days on market in Oct 2024, up by 70% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Portland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 66 homes were sold in Southwest Portland; 48% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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