Market Intelligence · OR / Portland

Portland, OR 97229 Housing Market

Homes in Portland's 97229 ZIP code have a typical value of $734,680, which has declined 3.3% over the past year. The median list price is $777,000, and homes are spending a median of 51 days on the market.

Updated August 2026Median value$735K

The median home value in Portland, OR 97229 is $735K as of August 2026, down 3.3% 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 97229 range

$676K to $793K

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

-3.3% over 12 months

Typical home value in 97229 over the last 12 months: $760K in Jul 2025 to $735K in Jul 2026 (-3.3%).

Jul 2025$760K

Jul 2026$735K

The numbers

What is the 97229 housing market like?

Typical home value

$735K

Down3.3%YoY

Median list price

$775K

Down0.3%MoM

Days on market

60

Up17.6%MoM

Homes for sale

331

Down5.4%MoM

Price cuts

30.6%

Down5.7%MoM

New listings

100

Down13.8%MoM

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

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The comparison

How do 97229 home prices compare?

  • 97229$734,680
  • 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 97229 market is showing signs of slowdown. There are currently 350 homes for sale with 116 new listings as of July 2026. The median time on market of 51 days suggests homes are taking longer to find buyers compared to faster-moving markets. Additionally, 32.5% of current listings have already seen a price cut, indicating sellers are adjusting expectations. For homeowners considering a sale, this is a buyer-favorable environment where pricing realistically and preparing your home for inspection will matter more than waiting for demand to shift.

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