Portland homes are taking longer to sell, about half of them are getting price cuts, and mortgage rates are back above 7 percent. Three numbers matter this month. The metro median days on market was 61 in August 2026, up 1.7% from a year earlier. 51% of active listings had a price cut. The 30-year fixed rate was 7.03% for the week of September 24, 2026. Buyers have leverage on price and time. Sellers who start too high pay for it.
Portland-Vancouver-Hillsboro metro, August 2026
| Measure | August 2026 | Change vs a year earlier |
|---|---|---|
| Median days on market | 61 days | +1.7% |
| Median listing price | $595,000 | -0.7% |
| Active listings | 8,935 | +2.8% |
| New listings | 2,968 | -1.7% |
| Listings with a price cut | 51% | n/a |
Inventory keeps building. Active listings were 5,557 in January 2026 and are 8,935 now, and median days on market was 47 in April and is 61 now. Asking prices barely moved, so the give is happening through price cuts after listing. RMLS data reported by The McCreith Team put the August median sale price at $540,000, down 1.8% from August 2025, with 3.8 months of inventory. RMLS pending sales were 2,013, down 11.5% from a year earlier. Demand is softening.
Multnomah County, August 2026
| Measure | August 2026 | Change vs a year earlier |
|---|---|---|
| Median days on market | 64 days | +1.6% |
| Median listing price | $499,000 | +0.0% |
| Active listings | 2,660 | -2.9% |
| New listings | 876 | +0.9% |
| Listings with a price cut | 51% | n/a |
Multnomah is the steadiest county. Asking price is flat and supply is slightly lower. A flat price still means 64 days to sell, so flat does not mean fast.
Clackamas County, August 2026
| Measure | August 2026 | Change vs a year earlier |
|---|---|---|
| Median days on market | 64 days | +0.0% |
| Median listing price | $699,000 | -3.6% |
| Active listings | 1,696 | +8.9% |
| New listings | 608 | +16.0% |
| Listings with a price cut | 53% | n/a |
Clackamas has the most pressure. New listings rose 16.0% and the median list price fell 3.6%. A seller here competes with more homes than a seller in Multnomah does.
Washington County, August 2026
| Measure | August 2026 | Change vs a year earlier |
|---|---|---|
| Median days on market | 56 days | -5.1% |
| Median listing price | $585,000 | -2.5% |
| Active listings | 1,854 | -2.0% |
| New listings | 684 | +4.3% |
| Listings with a price cut | 53% | n/a |
Washington County is the fastest of the three and the only one where days on market fell. Supply is not building the way it is in Clackamas. Even so, 53% of listings carry a cut, so speed does not protect an overpriced home.
Portland neighborhoods and suburbs, September 2026
| ZIP area | Median days on market | Median list price | Listings with a price cut |
|---|---|---|---|
| Alberta / Concordia (97211) | 38 | $549,850 | 51% |
| Mt. Tabor (97215) | 40 | $666,500 | 59% |
| Irvington / Alameda (97212) | 47 | $770,975 | 58% |
| South Waterfront / Hillsdale (97239) | 102 | $650,975 | 38% |
| Pearl District (97209) | 103 | $397,000 | 33% |
| Downtown / Goose Hollow (97205) | 108 | $537,250 | 28% |
These are ZIP-level medians, each with at least 15 active listings. The gap between the fastest ZIP at 38 days and the slowest at 108 is wide. The slow ZIPs are the urban core, and I read that as a condo story. The Portland Appraisal Blog reported average condo days on market of 119.6 in Q1 2026. The ZIP data does not split by property type, so treat my read as a read. In the suburbs, Tualatin was at 51 days, Beaverton at 55, Hillsboro at 77 and Lake Oswego at 79.
What this means if you are selling
Price it right on day one. The fastest sales are priced at or just under the last three comparable sales from day one. With 51% of metro listings cutting price, a high start is a cut you have not taken yet. Every cut also tells buyers how long you have been sitting.
Fix the usual inspection items before you list. Roof, drainage, sewer line and the electrical panel come up in nearly every Portland inspection. If you are in Clackamas, expect more competing listings. If you are in the urban core, plan for a long market and price for it.
What this means if you are buying
You have time. At 61 days on market and 51% of listings with a cut, you can negotiate. Look at how long a home has sat and whether it has already been reduced. Ask for a concession toward closing costs, because rates are the hardest number to fight at 7.03%.
Freddie Mac had the rate at 6.71% on September 3 and 6.30% a year earlier. Plan your payment at today’s rate, not last year’s. Budget for the inspection items above. With a conventional loan, 30 to 45 days from accepted offer to closing is typical in the Portland metro. A cash buyer can close in about two weeks.
Sources
- Realtor.com Housing Inventory Core Metrics, via FRED, Federal Reserve Bank of St. Louis
- Freddie Mac Primary Mortgage Market Survey, via FRED
- RMLS August 2026 figures, reported by The McCreith Team
- RMLS pending sales and buyer traffic, reported by realestateagentpdx.com
- Freddie Mac, rate of 6.71%
- Freddie Mac, rate of 7.03%
- Portland Appraisal Blog, Q1 2026 condominium update
Source note: Realtor.com Housing Inventory Core Metrics via FRED, Federal Reserve Bank of St. Louis, August 2026 (ZIP-level figures September 2026), and Freddie Mac PMMS, week of September 24, 2026.