Market Intelligence · OR / Portland

Portland, OR 97223 Housing Market

Typical home value in Portland, OR 97223 has declined 1.4% over the past year, currently sitting at $591,023. The median list price stands at $580,500, with homes taking 42 days on market.

Updated August 2026Median value$591K

The median home value in Portland, OR 97223 is $591K as of August 2026, down 1.4% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 97223 range

$544K to $638K

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

-1.4% over 12 months

Typical home value in 97223 over the last 12 months: $600K in Jul 2025 to $591K in Jul 2026 (-1.4%).

Jul 2025$600K

Jul 2026$591K

The numbers

What is the 97223 housing market like?

Typical home value

$591K

Down1.4%YoY

Median list price

$600K

Up3.4%MoM

Days on market

51

Up21.4%MoM

Homes for sale

108

Up8.0%MoM

Price cuts

37.6%

Up24.0%MoM

New listings

40

Down31.0%MoM

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

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The comparison

How do 97223 home prices compare?

  • 97223$591,023
  • Portland$559,538
  • Oregon$464,217
  • United States$289,821

Median Zillow home value (ZHVI), as of July 2026. Comparison levels are medians across every ZIP code with Zillow data (Portland: 32 ZIPs; Oregon: 339 ZIPs; United States: 26,266 ZIPs).

Context

The 97223 market shows mixed signals. There are 100 homes for sale with 58 new listings on the market, indicating steady inventory flow. However, 30.3% of listings have received a price cut, suggesting sellers are adjusting to softer demand. Homes are spending 42 days on the market before sale. For sellers, this cooling environment means pricing strategically and being realistic about current buyer appetite.

Monthly payment

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20% · $118,205

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