Published October 11, 2026 in Market Update

More Southeast Portland homes are selling, even with more price cuts in Portland

By Tony Apa

Real estate, Southeast Portland

Here is the number that matters most right now. The Real Estate Data Aggregator counted 626 homes sold across Southeast Portland in the three months ending August 31, 2026. That is up 3% from the same three months a year ago. The market is moving. But Realtor.com reported that 31.3% of Portland metro listings took a price cut in September 2026. So the homes that sold did not all sell on their first number.

That split tells you something useful. Buyers are active. But they are picking carefully. If your home is priced well and ready to show, it moves. If it is not, it sits until you cut. Realtor.com also put the average 30-year mortgage rate at 7.49% as of October 7, 2026, per CNBC. That keeps some buyers on the sideline, which means the ones who are out there have options and they know it.

Supply is tighter than last year. The Real Estate Data Aggregator showed 455 homes for sale across Southeast Portland, down 3.6% from a year ago. Fewer listings means buyers compete for what is there. That is good news for sellers who price correctly from the start.

How each ZIP code read in the three months ending August 31, 2026

The story is different block by block. Here is what the Real Estate Data Aggregator counted in each ZIP code.

Where homes are moving fastest

97215 stood out. The Real Estate Data Aggregator showed a median of 8 days on market there, and homes sold at 104% of list price on average. Nearly 6 in 10 homes, 58.9%, sold above list price. That is up 9.8 points from a year ago. Prices there held nearly flat, up just 0.5% to $728,500.

97206 and 97214 both clocked 11 days on market. In 97206, the Real Estate Data Aggregator counted 202 homes sold, up 4.7%, with prices up 2.2% to $475,000. That ZIP had 56.3% of homes go under contract within two weeks, up 12.6 points from a year ago. In 97214, prices dipped 2.7% to $692,500, and sales were down 11.4%. But homes that did sell moved quickly and averaged 101.3% of list.

Where sellers need to be more careful

97266 tells a different story. The Real Estate Data Aggregator showed a median sale price of $395,000 there, down 8.1% from a year ago. Homes sat a median of 25 days, 11 days longer than a year ago. Months of supply hit 4.4, the highest in Southeast Portland and up 0.4 months from last year. Only 22.7% of homes sold above list, down 23.1 points. Sales still rose 6%, so buyers are there. But they have more choices and they are using them.

97202 is steady. The Real Estate Data Aggregator counted 153 homes sold there, prices at $620,000, and a sale-to-list ratio of 100.4%. Homes for sale dropped 18.3% from a year ago, which kept supply tight at 1.7 months. Half of homes, 51.1%, went under contract within two weeks, up 7.4 points.

What the wider market adds to this

Realtor.com reported a median home price of $587,750 for the Portland-Vancouver-Hillsboro metro. Every Southeast Portland ZIP except 97266 and 97216 sits above that number. That means Southeast Portland is not a discount market relative to the metro. It is holding its own.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026, and 0.3% from the prior month in July alone. Southeast Portland's results are mixed against that backdrop. Some ZIPs beat it, some did not.

CNBC reported the average 30-year fixed mortgage rate hit 7.49% as of October 7, 2026. That is a real weight on buyer budgets. It does not stop sales, as the 626 closed in Southeast Portland show. But it does mean buyers are stretching, and a price that is off by even a little can push them to the next home.

One more thing: a single street can read very differently from the ZIP code around it. The numbers above are real counts of homes sold, but your block has its own story. Text me your address and I can tell you where your home sits inside these numbers.