Is Multnomah County, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Multnomah County has remained a Seller's Market.
Housing Prices in Multnomah County, OR
How much do homes in Multnomah County, OR cost?
Median Sold Price
$499,977
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Multnomah County was $499,977 in April 2024, down 2.6% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $315K | $298.7K | -5.2% |
2 Bedrooms | $415K | $400.3K | -3.5% |
3 Bedrooms | $500K | $497.6K | -0.5% |
4 Bedrooms | $637.6K | $636.6K | -0.2% |
5+ Bedrooms | $798K | $800.4K | 0.3% |
Summary: Multnomah County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.2%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Counties
Clark County | $525K | $539.4K | +2.7% |
Clackamas County | $606.5K | $610.5K | +0.7% |
Washington County | $576K | $579.6K | +0.6% |
Hood River County | $687K | $689.1K | 0.3% |
Multnomah County | $513.2K | $499.9K | -2.6% |
Housing Supply in Multnomah County, OR
How many homes are available in Multnomah County, OR?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,647 | 3,152 | +19.1% |
Summary: The Multnomah County real estate market had 3,152 homes for sale in April 2024, a 19.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 275 | 297 | +8.0% |
2 Bedrooms | 739 | 877 | +18.7% |
3 Bedrooms | 896 | 1,084 | +21.0% |
4 Bedrooms | 509 | 631 | +24.0% |
5+ Bedrooms | 228 | 263 | +15.4% |
Summary: The Multnomah County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
582 | 660 | +13.4% |
Asking Price vs. Sold Price
222 Homes Were Sold
Under Asking
148 Homes Were Sold
At Asking
290 Homes Were Sold
Over Asking
Summary: A total of 660 homes were sold or pending in Multnomah County in April 2024, up by 13.4% month-over-month. Of the 660 sold homes, 34% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Multnomah County, OR
How long does it take to sell a home in Multnomah County, OR?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 39 Days | +17.7% |
Summary: Homes in Multnomah County had an average of 39 days on market in Apr 2024, up by 17.7% compared to last year.
Breakdown of Home Sale Times
451 Homes Were Sold
Under 30 Days
123 Homes Were Sold
In 30 - 90 Days
86 Homes Were Sold
Over 90 Days
Summary: During April 2024, 660 homes were sold in Multnomah County; 68% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.