Published October 11, 2026 in Market Update

One part of Hillsboro is moving faster, even with rates near 7%

By Tony Apa

Real estate, Hillsboro

Rates are not letting up. CNBC reported the average 30-year fixed rate hit 7.49% as of October 7, 2026. Realtor.com put the Portland-Vancouver-Hillsboro metro rate at 6.9% in September 2026. That is the backdrop. But one ZIP code in Hillsboro is not waiting around.

97124 is the tightest part of the market

In the three months ending August 31, 2026, the Real Estate Data Aggregator counted 158 homes sold in ZIP 97124. That is up 10.5% from the same three months in 2025. Homes for sale dropped 20% in that same stretch. Less supply, more sales. That combination moves a market.

The Real Estate Data Aggregator found that median days on market in 97124 fell 9 days shorter than a year before, landing at 14 days. In 97123, it was 20 days, and that actually ticked up 1 day from 2025. Same metro, different pace.

Sellers in 97124 are getting close to asking price

The Real Estate Data Aggregator put the average sale-to-list ratio in 97124 at 99.7% for the three months ending August 31, 2026. That is up 0.4 points from a year before. Not every home sold above list. But 24.7% did, up 2.3 points from 2025. Sellers are not leaving much on the table.

97123 is still active, just not as tight

The Real Estate Data Aggregator counted 77 homes sold in 97123 in the three months ending August 31, 2026. That is down 11.5% from 2025. The median sale price rose 7.6% to $552,000. Prices went up even as fewer homes sold. That says demand is still there. It is just a slower market than 97124.

One more signal from 97123: 32.5% of homes sold above list price, up 7.2 points from a year before. That is actually a higher share than 97124. So competition exists in both ZIPs. It just shows up differently.

The wider picture

Nationally, Realtor.com reported that 20.8% of listings took a price cut in September 2026, the highest share since October 2022. That is a real signal. Hillsboro is holding steadier than that, but it is not immune to the rate pressure pushing that number up.

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 2026. Hillsboro's 97123 outpaced that national year-over-year gain, with a 7.6% rise in median sale price per the Real Estate Data Aggregator.

One ZIP code can tell a different story from the next street over. If your home sits near a boundary, the numbers above may not match what you would actually see. That is worth knowing before you pick a price or make an offer.