Published October 18, 2026 in Market Update

More Southeast Portland listings are cutting price, but many homes still move fast

By Tony Apa

Real estate, Southeast Portland

Here is the number that changes what you should do right now. Realtor.com reported that 31.3% of Portland metro listings took a price cut in September 2026. That is nearly 1 in 3 sellers who had to reset. At the same time, the Real Estate Data Aggregator counted 455 homes for sale across Southeast Portland in the three months ending August 31, 2026. That was down 3.6% from the same period in 2025. Fewer homes, but still enough cuts to hurt the sellers who priced too high.

The takeaway: you have buyers. You do not have a free pass. Price right from day one and you keep your leverage. Price high and you hand it away.

Southeast Portland by the numbers, three months ending August 31, 2026

The Real Estate Data Aggregator counted 626 homes sold across the six Southeast Portland ZIP codes in the three months ending August 31, 2026. That was up 3% from the same stretch in 2025. Sales are moving. New listings fell 2.7% over the same period, so the pool of fresh supply is tighter than a year ago.

Speed: most homes still go fast

Even with price cuts rising across the metro, the Real Estate Data Aggregator shows most Southeast Portland ZIP codes are moving homes quickly. In 97215, the median was 8 days on market. In 97214 and 97206, it was 11 days. The outlier is 97266, where the median sat at 25 days, up 11 days from a year before. If your home is in 97266, that context matters a lot.

Under contract in two weeks: where buyers are moving fastest

The Real Estate Data Aggregator tracked what share of homes went under contract within two weeks of listing. In 97206, that share was 56.3%, up 12.6 points from a year before. In 97215, it was 51.6%. In 97266, it was 33%, and that share slipped 3.2 points year over year. Two very different markets, a few miles apart.

Prices: a split story

The Real Estate Data Aggregator shows median sale prices ranged from $395,000 in 97266 to $728,500 in 97215 in the three months ending August 31, 2026. Some ZIPs saw prices dip. In 97202, the median fell 4.6% year over year to $620,000. In 97214, it fell 2.7% to $692,500. In 97266, it fell 8.1% to $395,000. Others held or gained. In 97206, the median rose 2.2% to $475,000. In 97215, it edged up 0.5% to $728,500.

Sale-to-list ratio: are sellers getting their price?

The Real Estate Data Aggregator found that in 97215, homes sold for an average of 104% of list price in the three months ending August 31, 2026. That is up 2.6 points from a year before. In 97214, the average was 101.3%. In 97266, homes sold at exactly 100% of list, down 1.2 points year over year. Sellers in 97215 are still getting above ask. Sellers in 97266 are not leaving room for error.

The rate backdrop

Realtor.com reported that mortgage rates topped 7% for the first time since January 2025, as of September 30, 2026. That puts pressure on buyers' budgets. It also means sellers who price sharp get the buyers who are still out there. Sellers who price high wait, and waiting is where cuts happen.

97266 deserves its own look

The Real Estate Data Aggregator counted 127 homes for sale in 97266 in the three months ending August 31, 2026. That was up 17.6% from a year before. Months of supply hit 4.4, up 0.4 months year over year. The median sale price fell 8.1% to $395,000. Days on market rose 11 days to a median of 25. This ZIP is reading differently from the rest of Southeast Portland. If you own here, your pricing strategy needs to reflect that.