Portland-area home buyers face $525,000 median price; more first-time owners rely on down payment funds from family


The 1910 foursquare on 0.33 acres at 15010 SE Rupert Dr. in Milwaukie is listed at $525,000.

The 1910 foursquare on 0.33 acres at 15010 S.E. Rupert Drive in Milwaukie is listed at $525,000, which is the median sale price for houses and condos in the Portland area.Kirk VandenHoek/Berkshire Hathaway HomeServices NW Real Estate

People hoping to buy a home in the Portland area continue to face strong competition for a low level of residential properties for sale, but the sense of urgency to make an offer quickly and over the asking price is diminishing.

Nationally, the high number of COVID-19 cases has weakened employment, spending and consumer confidence, according to the Federal Home Loan Mortgage Corporation, known as Freddie Mac.

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