Published October 11, 2026 in Market Update

North Portland / St. Johns splits into two speeds

By Tony Apa

Real estate, North Portland / St. Johns

Here is the one thing that matters most right now. North Portland / St. Johns is not one market. It is at least two. Price or offer like they are the same, and you can miss badly. These numbers are from the three months ending August 31, 2026.

Realtor.com reported that 31.3% of Portland metro listings had price cuts in September 2026. That is nearly 1 in 3 sellers trimming their ask. But that average hides a big split inside North Portland / St. Johns.

The fast side: 97217

The Real Estate Data Aggregator counted 159 homes sold in ZIP 97217 in the three months ending August 31, 2026. That is up 8.9% from the same months of 2025. The median sale price hit $555,000, up 3.3% year over year. Homes here moved in a median of 14 days. Nearly half, 44.7%, sold above list price. That share jumped 13.2 points from a year before. Almost half of all listings, 46.1%, went under contract within two weeks.

The slower side: 97231

ZIP 97231 tells a different story. The Real Estate Data Aggregator counted only 13 homes sold there in the three months ending August 31, 2026. That is down 18.8% from the same period in 2025. The median sale price was $550,000, but it dropped 26.6% year over year. That is a big move, and with only 13 sales, one or two unusual homes can shift the median. Take that number carefully. Homes sat a median of 34 days, 3 days longer than last year. Months of supply hit 11.1, up 3.4 months from a year before. Only 16.7% of listings went under contract within two weeks.

97203: the middle ground

ZIP 97203 sits between the two. The Real Estate Data Aggregator counted 121 homes sold there in the three months ending August 31, 2026, up 15.2% from a year before. The median sale price was $447,500, down 6.8% year over year. Homes sold in a median of 20 days, 2 days faster than last year. The average sale came in at 100.1% of list price. About 33.9% sold above list, and 41.9% went under contract within two weeks.

How the three ZIP codes compare

What rates are doing to every market

Freddie Mac put the 30-year fixed rate at 7.40% as of October 8, 2026. The 15-year fixed averaged 6.73% the same week. Realtor.com reported that mortgage rates topped 7% in September 2026. That is the backdrop for every buyer writing an offer right now. It matters for how hard buyers will push, and how firm sellers can hold.

The whole area in one number

Across all three ZIP codes together, the Real Estate Data Aggregator counted 293 homes sold in the three months ending August 31, 2026. That is up 9.7% from the same period in 2025. There were 303 homes for sale and 343 new listings. Pending sales reached 301, up 3.8% year over year. The area as a whole is moving. But the ZIP codes underneath that total are not moving the same way.