Published November 1, 2026 in Market Update

One part of Southeast Portland is moving much slower than the rest

By Tony Apa

Real estate, Southeast Portland

Most of Southeast Portland is selling fast. But one ZIP code is reading like a different market entirely. If you own or want to buy in 97266, that difference matters right now. These numbers cover the three months ending August 31, 2026.

97266 is the outlier

The Real Estate Data Aggregator counted 88 homes sold in ZIP 97266 in the three months ending August 31, 2026. The median sale price came in at $395,000, down 8.1% from the same period a year before. That is the steepest price drop of any Southeast Portland ZIP in this data set. Homes for sale rose 17.6% year over year, to 127 active listings. The other five Southeast Portland ZIPs all saw inventory fall.

The Real Estate Data Aggregator put the median days on market in 97266 at 25 days. That is 11 days longer than the same period a year before. Compare that to 97206 at 11 days, 97214 at 11 days, and 97215 at just 8 days. Slower movement means sellers have less leverage and buyers have more room to ask.

Supply tells the same story

The Real Estate Data Aggregator measured 4.4 months of supply in 97266. Every other Southeast Portland ZIP sat between 1.6 and 2.1 months. More supply means buyers have choices. Sellers who price above what the market will bear are sitting longer.

Fewer homes are selling above list in 97266

The Real Estate Data Aggregator found that 22.7% of homes in 97266 sold above list price in the three months ending August 31, 2026. That share fell 23.1 points from a year before. In 97215, 58.9% of homes sold above list. In 97206, it was 40.6%. The sale-to-list ratio in 97266 landed at exactly 100%, meaning sellers are getting their asking price on average, but not more.

What this means for Portland metro overall

Realtor.com reported that 31.3% of Portland metro listings saw a price cut in September 2026. That is a wide market signal. But 97266's numbers show the pressure is not spread evenly. The rest of Southeast Portland is tighter. The Real Estate Data Aggregator counted 626 homes sold across all six Southeast Portland ZIPs in the three months ending August 31, 2026, up 3% from a year before. Sales are moving. They are just moving faster in some ZIPs than others.

If you are buying in 97266

More inventory, longer days on market, and a price drop of 8.1% year over year, per the Real Estate Data Aggregator, all point to more room to negotiate. Only 33% of homes went under contract within two weeks of listing there. In 97206, that figure was 56.3%. You have time to be deliberate.

If you are selling in 97266

Pricing right matters more here than in any other Southeast Portland ZIP right now. The Real Estate Data Aggregator shows homes sitting 11 days longer than a year ago. The share of homes selling above list fell 23.1 points. That does not mean you cannot sell. It means the list price has to earn the sale, not assume it.