Market Intelligence · OR / Portland

Portland, OR 97223 Housing Market

The typical home value in Portland's 97223 ZIP code is $591,023, down 1.4% over the past year. The median list price sits at $599,950, and homes are spending a median of 51 days on market.

Updated August 2026Median value$586K

The median home value in Portland, OR 97223 is $586K as of August 2026, down 0.9% 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

$539K to $632K

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

-0.9% over 12 months

Typical home value in 97223 over the last 12 months: $591K in Aug 2025 to $586K in Aug 2026 (-0.9%).

Aug 2025$591K

Aug 2026$586K

The numbers

What is the 97223 housing market like?

Typical home value

$586K

Down0.9%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 (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 97223 home prices compare?

  • 97223$585,567
  • Portland$550,740
  • Oregon$458,140
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Portland: 32 ZIPs; Oregon: 339 ZIPs; United States: 26,265 ZIPs).

Context

There are 108 homes for sale in 97223 as of 2026-08-01, with 40 new listings entering the market. The typical home value is $591,023, down 1.4% over the past year. The median list price is $599,950, and homes take a median of 51 days to sell. Meanwhile, 37.6% of listings have had a price cut. For a seller, this means pricing realistically from the start matters more than testing the market high.

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