One part of Hillsboro is moving fast even with 6.9% rates
Realtor.com put the mortgage rate for the Portland-Vancouver-Hillsboro metro at 6.9% in September 2026. That is not cheap. Yet one ZIP code in Hillsboro kept moving like supply was tight, because it was.
97124: the tightest corner of Hillsboro
For the three months ending August 31, 2026, the Real Estate Data Aggregator counted just 2.2 months of supply in ZIP 97124. That is lean. The median home sat on the market only 14 days. A year before, it was 9 days longer.
Sellers in 97124 got 99.7% of their list price on average, per the Real Estate Data Aggregator. Nearly 1 in 4 homes sold above list. Pending sales rose 6.6% from a year before. Buyers are still showing up.
That 41.4% figure, from the Real Estate Data Aggregator, is up 5.2 points from a year before. Price your home right in 97124, and nearly half the homes nearby are gone before the second weekend.
97123: more supply, still selling
ZIP 97123 is a different read. The Real Estate Data Aggregator counted 3.3 months of supply there for the same period. The median days on market was 20. That is one day longer than a year before, not a collapse, but not as tight as 97124.
| 97124 | 97123 | |
|---|---|---|
| Months of supply | 2.2 months | 3.3 months |
| Median days on market | 14 days | 20 days |
| Median sale price | $550,000 | $552,000 |
| Sale-to-list ratio | 99.7% | 99.4% |
| Sold above list price | 24.7% | 32.5% |
One thing stands out in 97123. The Real Estate Data Aggregator shows 32.5% of homes there sold above list price. That is up 7.2 points from a year before. So even with more supply, competitive offers are happening.
What the wider picture says
Nationally, Realtor.com reported that 20.8% of listings took a price cut in September 2026, the highest share since October 2022. That is the country. Hillsboro's numbers look steadier by comparison.
Realtor.com also put the metro's median home price at $587,750 in September 2026. Both 97124 and 97123 came in below that, at $550,000 and $552,000. That gap matters for buyers watching their budget.
Looking ahead, CNBC reported that Fannie Mae forecasts the 30-year fixed rate at 7.4% in the fourth quarter of 2026, and 7.5% through 2027. Rates are not falling fast. That makes pricing and timing count even more.
- 97124 is the tightest part of Hillsboro right now: 2.2 months of supply, 14 days to a contract, and sales up 10.5% from a year before.
- 97123 has a little more breathing room at 3.3 months, but competitive offers are still happening there.
- Both ZIP codes are holding price well above list.
- One street can read very differently from the ZIP code as a whole.
Your next step
(503) 300-6224Text me your address and I will send back how your Hillsboro home compares to what actually sold near you in the three months ending August 31, 2026. Takes a day, costs nothing.
Text me- Real Estate Data Aggregator numbers for ZIPs 97123 and 97124, the three months ending August 31, 2026, compared with the same months of 2025. Real Estate Data Aggregator last updated them on Oct 7, 2026.
- Realtor.com: September 2026 Monthly Housing Trends: Price Cuts Hit 4-Year Highs as Mortgage Rates Top 7%, Sep 30, 2026
- Realtor.com: September 2026 Rental Report: Median Asking Rent Declines at the Slowest Pace in 3 Years, Oct 15, 2026
- Federal Housing Finance Agency: FHFA House Price Index® Up 0.3 Percent in July; Up 2.6 Percent from Last Year | FHFA, Sep 29, 2026
- CNBC: Fannie Mae sharply raises mortgage rate forecast for 2027, Oct 14, 2026
- CNBC: Thousands of homeowners face adjustable-rate mortgage resets — and much higher payments, Oct 13, 2026
- No Real Estate Data Aggregator numbers for 97129, so this part is from websites alone.