Portland, OR 97229 Real Estate Market Report

ZIP Code: 97229
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The primary market signal in Portland, OR (ZIP 97229) is the median sold price of $760,000, which represents recent transaction-level market value and suggests price stability with modest upward pressure when viewed alongside current asking behavior. Listing behavior shows a higher median listing price of $844,000, which may indicate a gap between seller expectations and recent transaction prices and could create pricing friction as the market continues to normalize. flat year-over-year price trends and a neutral market temperature support a characterization of a balanced market with slight seller advantage rather than a rapid appreciation environment.

Liquidity and velocity appear muted: the median days on market of 201 days points to slower sales cadence and longer marketing periods for transactions to complete, even while sample-level supply conditions appear as relatively constrained active supply in the analyzed dataset. Rental metrics show a softening backdrop with median market rent of $3,420 and a down rent year-over-year trend, while interest-rate pressure remains moderate, which may keep some buyers cautious and contribute to longer listing durations.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. $760,000 median sold price indicates transaction-level stability; the gap versus the $844,000 median listing price suggests ongoing pricing friction between buyer realized values and seller expectations.

2. 201 days median days on market signals slower sales velocity and longer negotiation windows, which may require sellers to adjust pricing or incentives to accelerate deals.

3. $3,420 median market rent combined with a down rent trend implies weakening near-term rental income prospects and reduced investor cash-flow confidence.

4. Price momentum is flat year-over-year and market temperature is neutral, so expect transactions to be governed by property-level condition and pricing rather than broad market tailwinds.

5. 0.9900000000000001% property tax rate is a stable carrying cost input for ownership decisions and should be factored into hold/sell comparisons, especially given longer holding periods implied by slower sales velocity.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.