97214 Housing Market Report December 2024•Multnomah County, Oregon

hero building illustration for mobile

Housing Prices in 97214, OR

How much do homes in 97214, OR cost?

Housing Market Conditions

Is 97214, OR a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

97214 is a Seller's Market

Difference Since December 2023

Since last year, 97214 has remained a Seller's Market.

Insight

97214 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$684,150$308/SqFt
-$850
-0.1%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 97214 has remained the same since last year.

Summary: The median home sold price in 97214 was $684,150 in December 2024, down 0.1% from last year, and the median price per square foot was $308.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
97215
+3.5%
97232
+2.8%
97214
-0.1%
97202
-2.0%
97213
-7.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$327.5K$332K
+1.4%
2$513.8K$492K
-4.2%
3$692.5K$723K
+4.4%
4$835K$781.2K
-6.4%
5$895K$950K
+6.1%

Summary: 97214 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +1.4%. The home price for 2 bedroom homes decreased by -4.2%. The home price for 3 bedroom homes increased by +4.4%. The home price for 4 bedroom homes decreased by -6.4%. The home price for 5 bedroom homes increased by +6.1%.

Housing supply in 97214, OR

How many homes are available in 97214, OR?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
38Last MonthDec 2024
522 months agoNov 2024
-26.9 %
Change MoMNov – Dec

Summary: The 97214 real estate market had 38 homes for sale in Dec 2024, a 26.9 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
11Last MonthDec 2024
142 months agoNov 2024
-21.4 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
143
-25.0%
21611
-31.3%
31710
-41.2%
4910
+11.1%
564
-33.3%

Summary: 97214 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -25.0%. The inventory for 2 bedroom homes decreased by -31.3%. The inventory for 3 bedroom homes decreased by -41.2%. The inventory for 4 bedroom homes increased by +11.1%. The inventory for 5 bedroom homes decreased by -33.3%.

Asking Price vs. Sold Price

How much do homes in 97214, OR cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price4 Homes

Under Asking Price5 Homes

Insight

If you're buying a home in 97214, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 97214 in December 2024, down by 21.4% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and and 18% were sold over asking.

Days on Market for 97214, OR

How long does it take to sell a home in 97214, OR?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days4 Homes

Over 90 Days4 Homes

Insight

Avg time on Rocket Homes in 97214 has remained consistent over time.

Summary: During December 2024, 11 homes were sold in 97214; 27% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
70 DaysThis YearDec 2024
35 Days1 year agoDec 2023
+97.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in 97214 had an average listing age of 70 days in Dec 2024, up by 97.8% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in 97214, OR

What homes are available in 97214, OR?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Oregon

MLS Disclaimers and Copyright

Based on information from Regional Multiple Listing Service, for the period 01/01/2023 - 01/01/2025

IDXThe content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/19/2025, 5:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.