Published October 25, 2026 in Market Update

Southeast Portland stays tight even with more price cuts across Portland

By Tony Apa

Real estate, Southeast Portland

Here is the one fact that changes what you should do right now. Realtor.com reported that 31.3% of Portland metro listings had price cuts in September 2026. That is nearly 1 in 3 sellers adjusting their number. If you are pricing a home in Southeast Portland, buyers are pushing back more than they used to. Price it right the first time.

But here is what makes Southeast Portland different. The Real Estate Data Aggregator counted 455 homes for sale across the six Southeast ZIP codes in the three months ending August 31, 2026. That is down 3.6% from the same period a year before. Less supply means buyers have fewer choices. That keeps pressure on well-priced homes.

Sales held up well. The Real Estate Data Aggregator counted 626 homes sold across Southeast Portland in the three months ending August 31, 2026. That is up 3% from a year before. Buyers are still active. They are just pickier about price.

How each ZIP code read in the three months ending August 31, 2026

The six Southeast ZIP codes each tell a slightly different story. Some are moving fast. One is softer. Here is what the Real Estate Data Aggregator counted for each.

97215: the tightest seller's read

ZIP 97215 stands out. The Real Estate Data Aggregator counted a median sale price of $728,500 there, up 0.5% from a year before. Homes sold for 104% of list price on average. Nearly 6 in 10 homes, 58.9%, sold above list. The median home went under contract in 8 days. That is a well-priced market moving quickly.

97266: the one ZIP that reads differently

Not every corner of Southeast Portland is tight. ZIP 97266 had 4.4 months of supply in the three months ending August 31, 2026, up 0.4 months from a year before. The median sale price there was $395,000, down 8.1% year over year. Homes sat a median of 25 days, which is 11 days longer than a year ago. Only 22.7% sold above list, down 23.1 points from last year. If you own in 97266, pricing precision matters more than anywhere else in Southeast Portland right now.

What the broader Portland market adds

Realtor.com reported the median home price in the Portland-Vancouver-Hillsboro metro at $587,750 in September 2026. Compare that to the Southeast ZIP codes, where prices range from $395,000 in 97266 to $728,500 in 97215. Southeast Portland spans a wide range.

Realtor.com also reported that mortgage rates topped 7% for the first time since January 2025. That is real pressure on buyers' budgets. It is one reason 31.3% of Portland metro listings had to cut their price. Buyers are doing the math and pushing back when a home is priced above what the numbers support.

Redfin reported Portland home prices were down 0.3% month over month as of October 20, 2026. That is a small dip. It is not a collapse. But it is a signal that sellers who overshoot on price are feeling it.

Speed: most of Southeast Portland still moves fast

The Real Estate Data Aggregator found that more than half of homes in four of the six Southeast ZIP codes went under contract within two weeks of listing. In 97206, that share was 56.3%, up 12.6 points from a year before. In 97216, it was 50%, up 9.6 points. In 97202, it was 51.1%, up 7.4 points. Speed is real in most of Southeast Portland. The exception is 97266, where only 33% went under contract that fast.

One more thing worth knowing. These numbers cover whole ZIP codes. One street can read very differently from the ZIP around it. A block with more recent sales, a different school zone or a different mix of home sizes can shift the picture. The ZIP code is a starting point, not the final answer.