Market Intelligence · OR / Portland

Portland, OR 97201 Housing Market

The typical home value in Portland, OR 97201 is $421,128 as of September 2026, down 2.7% over the past year. The median list price is $502,472, and homes are spending a median of 93 days on market. That points to a slower, softer market for sellers.

Updated September 2026Median value$421K

The median home value in Portland, OR 97201 is $421K as of September 2026, down 2.7% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 97201 range

$387K to $455K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-2.7% over 12 months

Sep 2025$433K

Low $421KHigh $436K

Sep 2026$421K

The numbers

What is the 97201 housing market like?

As of September 2026

Typical home value

$421K

2.7%YoY

Median list price

$502K

8.1%MoM

Days on market

9.4%MoM

Homes for sale

125

4.6%MoM

Price cuts

23.8%

14.3%MoM

New listings

75.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

97201 housing market forecast 2027

-0.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97201 to fall 0.6% by September 2027.

Over the 12 months through September 2026, typical home values in 97201 fell 2.7%, per the Zillow Home Value Index.

Will home prices drop in 97201?

Zillow's forecast says they may: it expects typical home values in 97201 to fall 0.6% by September 2027, after a 2.7% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 97201 home prices compare?

97201$421,128
Portland$547,291
Oregon$456,438
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Portland: 32 ZIPs; Oregon: 339 ZIPs; United States: 26,262 ZIPs).

Context

Sellers in 97201 are working in a cooling market. The typical home value is $421,128, down 2.7% over the past year, and the median list price sits at $502,472. Homes take a median of 93 days to sell, well past a quick sale pace. There are 125 homes for sale with only 28 new listings, and 23.8% of listings have taken a price cut. For a seller, the honest read is that pricing realistically from day one matters more than holding out for a higher number.

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Down payment20% · $84,226

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Common questions

What people ask us.

How much is a home in 97201 worth?

The typical home value in Portland, OR 97201 is $421,128 as of September 2026. That figure is down 2.7% over the past year.

How long do homes take to sell in 97201?

Homes in 97201 spend a median of 93 days on market as of September 2026. Sellers should plan for a longer timeline than in a fast-moving market.

Are sellers cutting prices in 97201?

Yes. As of September 2026, 23.8% of listings in 97201 have had a price cut, and the median list price is $502,472.

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