Market Intelligence · OR / Portland

Portland, OR 97224 Housing Market

Homes in Portland, OR 97224 are worth $606,342 on a typical basis, down 2.0% over the past year. The median list price stands at $625,725, with homes taking 42 days on market.

Updated August 2026Median value$606K

The median home value in Portland, OR 97224 is $606K as of August 2026, down 2.0% 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 97224 range

$558K to $655K

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

-2.0% over 12 months

Typical home value in 97224 over the last 12 months: $619K in Jul 2025 to $606K in Jul 2026 (-2.0%).

Jul 2025$619K

Jul 2026$606K

The numbers

What is the 97224 housing market like?

Typical home value

$606K

Down2.0%YoY

Median list price

$650K

Up3.8%MoM

Days on market

61

Up45.2%MoM

Homes for sale

168

Flat0.0%MoM

Price cuts

26.8%

Up3.2%MoM

New listings

60

Down11.8%MoM

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

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The comparison

How do 97224 home prices compare?

  • 97224$606,342
  • 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 97224 ZIP has 168 homes for sale as of early July 2026, with 68 new listings entering the market recently. The median list price of $625,725 sits slightly above the typical home value of $606,342. Homes are staying on market for a median of 42 days, and 25.9% of listings have seen price cuts. For sellers, this suggests a market where pricing strategy and condition matter more than they did a year ago.

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20% · $121,268

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