It’s no news that Portland’s housing market is fiercely competitive, but how about getting even more details with the data?
Through research compiled for Portland Monthly by the Department of Geography at Portland State University and based on information provided by the Realtors’ Master Listing Service, we can pinpoint exactly which neighborhoods within the city limits saw demand soar last year. The results are all over the map, literally – the leafy, quiet corners of Portland’s far southwest have garnered great interest, but so have the low-cost enclaves in the southeast’s exterior. from Portland and further into North Portland. Many of those same neighborhoods also saw homes being taken over very quickly. Read on to find out more and grab the spring issue of Portland Monthlyavailable on newsstands in a few weeks, for even more real estate news.
Median sale price in 2021: $925,000
Year-over-year price growth, 2020-2021: 17.4%
Prosperous and tidy Eastmoreland is anchored by the graceful grounds of Reed College on one side, and the well-maintained public Eastmoreland Golf Course on the other. The neighborhood has faced some divisiveness in recent years as neighbors take sides to allow new development or for historic preservation, but buyers don’t seem to care. Homes there spent an average of just 14 days on the market in 2021, according to our data, out of 101 total sales.
8. Southwest Hills
Median sale price in 2021: $999,975
Year-over-year price growth, 2020-2021: 17.6%
Another exclusive enclave, homes in this perch above the city are expensive enough that they’re taking a bit longer to sell — an average of 48 days in 2021, according to our data. Still, the area is very appealing to those looking for easy access to Council Crest’s unrivaled views and a quick ride (as long as you have an e-bike or a good pair of running shoes) down the Marquam Nature Trail to at nearby Oregon Health & Sciences University.
Median sale price in 2021: $400,000
Year-over-year price growth, 2020-2021: 17.7%
Tiny Glenfair straddles Burnside between NE Glisan and SE Stark, from about 148and Avenue and running to 161st avenue. They are close to Glendoveer golf and walking trails, and have their own compact 5-acre neighborhood park, plus a relatively unadvertised food cart pod within walking distance. The average house sold here was built in 1977, newer than the housing stock in most of the nearest neighborhoods. Homes there were on the market for an average of 23 days in 2021 before being snapped up.
6. Powellhurst Gilbert
Median sale price in 2021: $380,000
Year-over-year price growth, 2020-2021: 18.8 percent.
Powellhurst-Gilbert Rise adjoins two of the city’s most beautiful natural areas: Leach Botanical Gardens, which now features a walkway above the trees after a renovation completed in 2021, and Powell Butte Nature Area, which offers mountain views for days from its rounded top. He also has a neighborhood association involvedwhich launched pilot graffiti clean-up and urban agriculture programs, and co-sponsored a festival for neighborhoods on the eastern outskirts of the city.
Median sale price in 2021: $374,000
Year-over-year price growth, 2020-2021: 21 percent
Not to be confused with Netflix’s heartbreaking hubba-hubba series Bridgerton, this quiet community clings to the edge of North Portland, bordered by the Columbia River, and claims to be the smallest of all neighborhoods in the city. Most of the houses there today are houseboats and the residents all seem to know each other. Maybe it’s their annual community picnic, which always draws a lot of people? (Note that with such a small community, the numbers can be skewed — only 30 homes were sold there in 2021 and were on the market for an average of 45 days.)
Median sale price in 2021: $604,500
Year-over-year price growth: 21.5%
Primarily in Multnomah County, but bordering Washington County, Ashcreek has great access to Tryon Creek State Park, the best place to spot trilliums in the spring, as well as close to shops and boutiques in the Lake Oswego and big box stores in Tigard. Over 100 homes changed hands here in 2021, and the pace was fast: the average time on market was just 18 days.
3. Lloyd Quarter
Median sale price in 2021: $256,500
Year-over-year price growth, 2020-2021: 22.1%
Home to the much-discussed Lloyd Center, this area has seen more than its share of misfortunes lately, and truth be told, there have only been 14 sales here in total in 2021, and those have taken a lot longer time than any other neighborhood on this list—an average of 73 days. But it’s hard to beat Lloyd Center if you’re looking for a budget option close to downtown with great transit options. Maybe that’s why the median selling price showed such a noticeable year-over-year jump?
2. Maple wood
Median sale price in 2021: $650,000
Year-over-year price growth: 26.5%
Alongside Ashcreek, Maplewood is part of a trio of neighborhoods that more closely resemble Washington County than Portland proper. It is full of ranch homes and duplexes, as well as a great neighborhood cafe it’s like a shared living room for the locals. Only 49 homes sold here in 2021, but they flew off the market in 15 days on average, so if you want to get into this neighborhood be prepared to act fast.
1. Cathedral Park
Median sale price in 2021: $498,750
Year-over-year price growth: 29.5%
Didn’t you see this one coming? Cathedral Park is often mistaken for an extension of St. John’s, but it really is a neighborhood in its own right. Bordering Cathedral Park, which hosts a popular free jazz festival in the summer, residents can quickly get to downtown Portland via the Interstate MAX line, more stunning views of the Willamette River cliffs for summer picnics. Exactly 100 homes were sold here in 2021, according to our data, and spent an average of just two weeks on the market.