Published October 25, 2026 in Market Update

One part of Northeast Portland is moving much faster than the rest

By Tony Apa

Real estate, Northeast Portland

Redfin reported Portland home prices slipped 0.3% month over month as of October 20, 2026. That is the city-wide read. It does not tell the whole story for Northeast Portland, and it definitely does not tell the story for 97212.

The Real Estate Data Aggregator counted homes sold across nine Northeast Portland ZIP codes in the three months ending August 31, 2026. One of them, 97212, ran at a pace the others could not match.

97212: the numbers that set it apart

Six days. That is the median time a home sat on the market in 97212, according to the Real Estate Data Aggregator. A year earlier it was 19 days. That is not a small shift.

Two out of three homes in 97212 went under contract within two weeks of listing. Nearly half sold above asking price. The Real Estate Data Aggregator put the average sale at 103.2% of list. Sellers there are not leaving money on the table when they price it right.

How the other ZIP codes compare

The rest of Northeast Portland is not slow. But it reads differently. Here is where each ZIP code landed on days on market and the share of homes that went under contract within two weeks, in the same period.

97233 is worth a closer look. The Real Estate Data Aggregator put median days on market there at 39, up 17 days from a year before. That is the slowest in Northeast Portland. Only 29.2% of homes went under contract within two weeks. Pricing and presentation matter more there, not less.

Price is not moving the same way everywhere either

97218 prices fell 9.4% year over year, the Real Estate Data Aggregator shows. 97220 dropped 7.4%. Both ZIPs also saw more homes come to market. More supply, softer prices. That is a straightforward read.

97232 had the second-highest median sale price at $869,000, up 11.9% year over year. But months of supply there rose to 5.3, up 2.5 months from a year ago. Fewer homes sold. More sat available. That is a mixed picture even at a strong price point.

The broader backdrop

Redfin reported that Portland home prices slipped 0.3% month over month. Realtor.com reported that median list prices in the Northeast region fell 3.8% year over year, and that inventory in the region rose 11.6% year over year, as of September 30, 2026.

Realtor.com also reported that 31.3% of Portland metro listings carried a price cut in September 2026. That is nearly 1 in 3. It is a reminder that the wider market is not uniform, and that pricing a home correctly still matters.

Nationally, the National Association of Realtors reported that existing-home sales rose 1.5% in September 2026, reaching 3.99 million units. Inventory nationally rose to 1.60 million homes. The national picture is slowly loosening, even as pockets like 97212 run tight.

What this means if you own or want to buy

If you own in 97212, the data says prep and pricing can put you in a strong spot. Homes there are selling in 6 days at a median of 103.2% of list. That edge is real, and it is bigger than it was a year ago.

If you are buying in 97212, the Real Estate Data Aggregator counted only 54 homes for sale in the three months ending August 31, 2026. Two out of three went under contract within two weeks. Move early and keep your terms clean.

If you own in 97233 or 97236, the data is more patient. Homes there are taking longer. Pricing to the current market, not last year's, is the right move.