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Market Intelligence · OR / Portland

Portland, OR 97232 Housing Market

The typical home value in Portland's 97232 ZIP is $653,726, up 4.5% over the past year as of September 2026. The median list price sits at $426,175, and homes spend a median of 75 days on the market.

Updated September 2026Median value$654K

The median home value in Portland, OR 97232 is $654K as of September 2026, up 4.5% 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 97232 range

$601K to $706K

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

+4.5% over 12 months

Typical home value in 97232 over the last 12 months: $625K in Sep 2025 to $654K in Sep 2026 (+4.5%).

Sep 2025$625K

Sep 2026$654K

The numbers

What is the 97232 housing market like?

Typical home value

$654K

Up4.5%YoY

Median list price

$426K

Up17.6%MoM

Days on market

75

Up29.3%MoM

Homes for sale

40

Up17.6%MoM

Price cuts

27.6%

Up8.5%MoM

New listings

10

Down16.7%MoM

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

The outlook

97232 housing market forecast 2027

+0.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97232 to stay roughly flat by September 2027 (up 0.1%).

Over the 12 months through September 2026, typical home values in 97232 rose 4.5%, per the Zillow Home Value Index.

Will home prices drop in 97232?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 97232 to stay roughly flat by September 2027 (up 0.1%), after a 4.5% rise 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 97232 home prices compare?

  • 97232$653,726
  • 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

In 97232, the typical home value is $653,726, up 4.5% over the past year, which points to prices still climbing as of September 2026. At the same time, the median list price of $426,175 sits well below that typical value, and homes take a median of 75 days to sell. Inventory is limited, with 40 homes for sale and 10 new listings. Meanwhile, 27.6% of listings have taken a price cut, suggesting some sellers are aiming too high. The honest read: values are rising, but buyers are taking their time and pushing back on ambitious asking prices.

Monthly payment

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20% · $130,745

Common questions

What people ask us.

How much is a home in 97232 worth?

The typical home value in 97232 is $653,726, up 4.5% over the past year as of September 2026. The median list price is $426,175.

How long does it take to sell a home in 97232?

Homes in 97232 spend a median of 75 days on the market as of September 2026. As of September 2026 there were 40 homes for sale, with 10 new listings.

Are sellers cutting prices in 97232?

Yes. As of September 2026, 27.6% of listings in 97232 had a price cut.

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