Portland’s Hottest ZIP Code Might Surprise You
Even with the broader market cooling this fall, some neighborhoods are still running hot, and the latest rankings put a stretch of Southwest Portland at the top of the list.
A quarterly analysis on ZIP codes by sales activity and price momentum, rather than by price alone, showed surprising results. In the third quarter, the hottest ZIP code in the Portland area was 97221, which straddles Highway 26 just west of the Southwest Hills and includes Sylvan Highlands, Green Hills, and Hayhurst, along with stretches of Skyline Boulevard and Scholls Ferry Road.
During the quarter, 53 homes sold in 97221 at an average price of just over $1 million, up from about $839,000 a year earlier, an increase of nearly 20%. The average list price climbed to about $1.08 million, and homes spent an average of 79 days on the market, a sign that buyers are still willing to pay for the right home, even if they are taking a little more time to decide.
Across the wider metro, the hottest market was Molalla in Clackamas County, where the average sale price rose to about $550,000, up from roughly $470,000 a year ago, with 52 new listings during the quarter. Statewide, the top spot went to Powell Butte near Bend, where the average sale price topped $1.9 million.
Rankings like these are a good reminder that real estate is local. Even as the overall market has cooled noticeably, well-located neighborhoods with strong demand are still seeing real price gains, and homes that are well prepared and priced right are still drawing serious buyers.
Whether you are curious how your neighborhood compares, thinking about selling in one of these areas, or searching for a home where demand is holding strong, reach out anytime. I am always happy to pull the latest numbers for you!
