ZIP 97221 Housing Market & Real Estate Update (Portland, OR) — February 22, 2026
97221 – February 22, 2026 – ZIP 97221 (Portland, OR) shows softer sale prices YoY, longer market times, and ~40–45 active listings; rates eased.
ZIP 97221 (Portland, Oregon; Multnomah County) continues to show a slower, more selective market as we head deeper into early 2026. Recent ZIP-level trackers still disagree on exact pricing, but they line up on two practical realities: homes are taking longer to move than last year, and buyers are staying rate-sensitive.
Top takeaways
- Closed-sale prices: Redfin shows a January 2026 median sale price of $692K, down 12.6% year over year, with homes selling in about 56–57 days on market.
- Values and inventory: Zillow pegs a typical home value around $734,412 (data through Dec. 31, 2025) and shows roughly 44 homes for sale as of Jan. 31, 2026.
- Mortgage rates: Freddie Mac’s weekly PMMS average for a 30-year fixed was 6.01% as of Feb. 19, 2026 (down from 6.09% the week prior).
Market snapshot
On the demand side, Redfin’s January data suggests fewer closings than last year (38 homes sold, down from 42), while the median days on market rose to the mid-50s. That combination typically points to more negotiation room on homes that are not perfectly priced or updated.
On the supply side, the ZIP is hovering around about 40–45 active listings depending on the source . Realtor.com’s ZIP search page also shows an overall median listing price near $830,000, which helps explain why even small rate moves can meaningfully change monthly payments.
Rentals check
Realtor.com’s local market dashboard lists a median rent around $1,895/month in 97221, with dozens of rentals competing for attention. If you are a renter thinking about buying, this is a good moment to run a payment comparison using today’s rates and realistic taxes/insurance, not just the purchase price.
What’s for sale nearby (no addresses)
- Move-in ready single-family homes clustered around the ZIP’s current median list-price band.
- Condos and townhomes for buyers prioritizing lower maintenance and a smaller footprint.
- Fixers and remodel opportunities where inspection findings (roof, electrical, drainage) can drive credits or price cuts.
ServiceXTC directory: real-estate-adjacent pros (coverage note)
We did not find enough ServiceXTC directory pages clearly tagged to ZIP 97221 today. If you are prepping a home to list or budgeting post-close repairs, these ServiceXTC provider pages can still be helpful starting points while local coverage expands:
- 3-D Roofing & Remodeling (roofing contractor)
- Ultimate Power Electric LLC (electrician)
- Quality Construction (general contractor)
- A A Huber & Sons Plumbing Heating (HVAC / plumbing)
- Grade A Septic Inspectors (septic inspection)
Sources
- Zillow home values (97221)
- Redfin housing market (97221)
- Realtor.com ZIP search and ZIP market dashboard (97221)
- Freddie Mac PMMS weekly mortgage rates
What are you seeing in 97221 right now — more price reductions, more buyer competition, or more homes sitting longer than expected?