97233 Housing Market Report February 2025•Multnomah County, Oregon

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Housing Prices in 97233, OR

How much do homes in 97233, OR cost?

Housing Market Conditions

Is 97233, 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

97233 is a Buyer's Market

Difference Since February 2024

At the same time last year, 97233 was a Seller's Market.

Insight

97233 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$400,000$282/SqFt
+$9,333
+2.4%

Based on all homes sold in the last 12 months

Insight

Homes in 97233 have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in 97233 was $400,000 in February 2025, up 2.4% from last year, and the median price per square foot was $282.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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
97230
+4.6%
97030
+3.4%
97233
+2.4%
97216
+0.6%
97236
0.2%

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.
BedsFeb 2024Feb 2025Change YoY
1$207.5K$245K
+18.1%
2$282.5K$265K
-6.2%
3$385K$397.5K
+3.2%
4$448K$450K
0.4%
5$529.9K$520K
-1.9%

Summary: 97233 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +18.1%. The home price for 2 bedroom homes decreased by -6.2%. The home price for 3 bedroom homes increased by +3.2%. The home price for 4 bedroom homes increased by 0.4%. The home price for 5 bedroom homes decreased by -1.9%.

Housing supply in 97233, OR

How many homes are available in 97233, 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
83Last MonthFeb 2025
712 months agoJan 2025
+16.9 %
Change MoMJan – Feb

Summary: The 97233 real estate market had 83 homes for sale in Feb 2025, a 16.9 % increase compared to Jan 2025.

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 MonthFeb 2025
172 months agoJan 2025
-35.3 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
122
0.0%
21422
+57.1%
33637
+2.8%
41215
+25.0%
577
0.0%

Summary: 97233 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +57.1%. The inventory for 3 bedroom homes increased by +2.8%. The inventory for 4 bedroom homes increased by +25.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 97233, 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 Price3 Homes

At Asking Price5 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in 97233, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in 97233 in February 2025, down by 35.3% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and and 27% were sold over asking.

Days on Market for 97233, OR

How long does it take to sell a home in 97233, OR?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days5 Homes

Over 90 Days2 Homes

Insight

Avg time on Rocket Homes in 97233 has remained consistent over time.

Summary: During February 2025, 11 homes were sold in 97233; 36% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 18% 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
45 DaysThis YearFeb 2025
65 Days1 year agoFeb 2024
-30.9 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 97233 had an average listing age of 45 days in Feb 2025, down by 30.9% compared to the previous year.

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Newest Listings in 97233, OR

What homes are available in 97233, OR?

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MLS Disclaimers and Copyright

Based on information from Regional Multiple Listing Service, and Northwest Multiple Listing Service for the period 03/01/2023 - 03/01/2025

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: 3/5/2025, 11:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDX The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest Multiple Listing Service IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2025 Northwest MLS. All rights reserved.

DMCA Notice

Disclaimer: Information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 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. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included. NorthwestMLS
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/5/2025, 11:17:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.