Median home sale prices in Portland fell 2.8% in January compared to the same month the prior year, ranking near the bottom in performance among major metros in the U.S. for price growth.
Portland home price growth trails the U.S.
Portland’s median home price declined 2.8% year over year in January, well behind national gains of 1.3%. This places Portland 36th among the largest 40 U.S. markets for annual price growth on a percentage basis, alongside other expensive coastal metros such as New York, San Jose, and Seattle.
Portland’s home prices declined by $15,000 in January
On a dollar basis, Portland ranks 36th among the top 40 markets, tied with the Inland Empire, with median home prices dropping $15,000 in January compared to a national increase of $4,900. Pricing erosion was driven primarily by attached homes, which fell by $30,500, while prices for detached homes and condos declined $11,000 and $14,040, respectively.
Portland remains one of the most expensive major markets in the country
Despite negative price growth, Portland remains among the least affordable major U.S. markets. While the median home sale price dropped to $525,000 in January, the region ranks 14th among the largest 40 U.S. markets. Portland is in line with markets such as Salt Lake City and Washington, D.C., with home prices trailing Washington, D.C., by just 4.5%. Fellow West Coast neighbor Seattle recorded a median price of $683,000, approximately 30% higher than Portland.
For questions and commentary about this report:
John Gillem, Senior Director of Market Analytics at CoStar and Homes.com, based in Portland, is available for interviews to provide expert insights on this data and the broader residential real estate market.
John Gillem
Senior Director of Market Analytics
Homes.com
Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation in Portland during January 2026.
Definition of Sale Prices
Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.
About the Homes.com Market Analytics Team
The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.
About Homes.com Analytics Data
The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.
The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.