West-Northwest Portland Housing Market Report December 2024•Multnomah County, Oregon

hero building illustration for mobile

Housing Prices in West-Northwest Portland, OR

How much do homes in West-Northwest Portland, OR cost?

Housing Market Conditions

Is West-Northwest Portland, 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

West-Northwest Portland is a Buyer's Market

Difference Since December 2023

At the same time last year, West-Northwest Portland was a Seller's Market.

Insight

West-Northwest Portland 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.
$542,533$360/SqFt
+$22,533
+4.3%

Based on all homes sold in the last 12 months

Insight

Homes in West-Northwest Portland have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in West-Northwest Portland was $542,533 in December 2024, up 4.3% from last year, and the median price per square foot was $360.

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
West-Northwest Portland
+4.3%
Forest Park
+3.8%

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$325K$310K
-4.6%
2$527.5K$572.5K
+8.5%
3$779K$710K
-8.9%
4$970K$1.0M
+3.1%
5$1.1M$1.1M
-3.6%

Summary: West-Northwest Portland housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -4.6%. The home price for 2 bedroom homes increased by +8.5%. The home price for 3 bedroom homes decreased by -8.9%. The home price for 4 bedroom homes increased by +3.1%. The home price for 5 bedroom homes decreased by -3.6%.

Housing supply in West-Northwest Portland, OR

How many homes are available in West-Northwest Portland, 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
356Last MonthDec 2024
3672 months agoNov 2024
-3.0 %
Change MoMNov – Dec

Summary: The West-Northwest Portland real estate market had 356 homes for sale in Dec 2024, a 3.0 % 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
32Last MonthDec 2024
412 months agoNov 2024
-22.0 %
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
1147140
-4.8%
2129128
-0.8%
33737
0.0%
42725
-7.4%
52726
-3.7%

Summary: West-Northwest Portland housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -4.8%. The inventory for 2 bedroom homes decreased by -0.8%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -7.4%. The inventory for 5 bedroom homes decreased by -3.7%.

Asking Price vs. Sold Price

How much do homes in West-Northwest Portland, 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 Price1 Home

At Asking Price7 Homes

Under Asking Price24 Homes

Insight

If you're buying a home in West-Northwest Portland, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in West-Northwest Portland in December 2024, down by 22.0% month-over-month. Of the 32 sold homes, 75% were sold under asking, 22% were sold at asking, and and 3% were sold over asking.

Days on Market for West-Northwest Portland, OR

How long does it take to sell a home in West-Northwest Portland, OR?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days11 Homes

Over 90 Days21 Homes

Insight

Most homes in West-Northwest Portland are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 32 homes were sold in West-Northwest Portland; 0% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 66% 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
129 DaysThis YearDec 2024
76 Days1 year agoDec 2023
+70.5 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in West-Northwest Portland had an average listing age of 129 days in Dec 2024, up by 70.5% 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 West-Northwest Portland, OR

What homes are available in West-Northwest Portland, 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: 1/22/2025, 12:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.