February 2021 Market Update: Portland

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Key takeaways for the month

The Portland-area market was hot throughout 2020 and shows no signs of slowing. 

  • Sale prices are sky high for the region. Median sale price is up year over year in Portland as well as in Beaverton and Hillsboro, for both single family homes and condos, continuing the trajectory of 2020. Portland single family homes are up 22% over last year and Beaverton/Hillsboro single family homes are up 13%. 
  • List prices are rising, too. Median list prices for single family homes are up year over year, by 7% in Portland and 11% in Beaverton and Hillsboro. 
  • Homes are selling above list price. Sale-to-list price ratio across the region has seen continuous increase since May 2020. For the past two years, it was under 100% in January and February; this February, it came in at 102% for single family homes in Portland as well as in Beaverton and Hillsboro. The trend of selling above list price is a new one for the region. 
  • Homes are selling very quickly. Median days on market are significantly down year over year—and have fallen about as low as they can go, landing at 5 days in Portland (a 38% year over year drop) and 4 days in Beaverton/Hillsboro (-33% year over year). These quick home sales show clearly how active this market is and how much it has changed during the course of the pandemic.

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

Sale Price

List Price

Based on date the property was listed.

Sale Price Compared to List Price

Days on Market

Number of Properties Listed

Number of Properties Pending Sale

Portland data includes the city of Portland.

Hillsboro & Beaverton data includes the cities of Hillsboro and Beaverton.

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