This is a weekly, dated review of selected Portland Metro homes that recently show notable price reductions. These five listings were chosen for their individual features or market appeal; they are selected examples, not necessarily the largest or only reductions across the entire market. Read on for a quick snapshot of each property and why it caught our attention.
The listings and prices in this article were reviewed on October 21, 2026.
These homes were selected because they combine meaningful price changes with location, property features, condition, or overall buyer appeal compared with other homes in this week’s report.
Availability, pricing, incentives and property details can change at any time.
🏡 This Week’s Portland Metro Price Drops
| Address | Current Price | Original Price | Reduction From Original Price |
|---|---|---|---|
| 6026 SW 18TH DR Portland, OR 97239 | $807,900 | $1,124,900 | About $317,000 |
| 7738 SW 31ST AVE Portland, OR 97219 | $500,000 | $579,000 | About $79,000 |
| 801 TIMBERLINE DR Lake Oswego, OR 97034 | $924,000 | $949,000 | About $25,000 |
| 31 CHURCHILL DOWNS Lake Oswego, OR 97035 | $815,000 | $895,000 | About $80,000 |
| 14485 RAINBOW DR Lake Oswego, OR 97035 | $650,000 | $799,000 | About $149,000 |
1. Contemporary Home in HILLSDALE
Address: 6026 SW 18TH DR Portland, OR 97239
Current price: $807,900
Original list price: $1,124,900
Reduction from original price: About $317,000
Bedrooms: 4
Bathrooms: 4 full
Square feet: 2,985
Year built: 2025
A 2025 contemporary built as one of nine in a small Hillsdale development, this nearly 3,000 sf plan includes four bedrooms, four full baths and an ADU with a separate entrance. The main home offers engineered hardwood, a gourmet kitchen, 9-foot ceilings, a covered deck with territorial views, an 8’ x 11’ primary closet, two-car garage plus covered parking and access to common greenspace.
Why I Picked This Home
Architect-designed by Ralph Tahran and built by a local fourth-generation builder, the property combines high-end finishes with an ADU and a covered deck with sweeping views. The listing also notes a builder incentive: an interest-rate buy-down or closing-cost assistance with an accepted offer by the stated deadline.
2. 2 Story Home in MULTNOMAH VILLAGE
Address: 7738 SW 31ST AVE Portland, OR 97219
Current price: $500,000
Original list price: $579,000
Reduction from original price: About $79,000
Bedrooms: 3
Bathrooms: 1 full, 2 partial
Square feet: 2,390
Year built: 1920
This 1920 Multnomah Village bungalow blends original character—hardwood floors, built-ins and classic woodwork—with modern updates. The oversized rooms include three large bedrooms, a dedicated office/studio, a primary walk-in closet and a butler’s pantry. The lower level has its own exterior entrance, a fenced backyard offers outdoor privacy, and recent system upgrades address major items like sewer, chimney and HVAC.
Why I Picked This Home
Original craftsmanship is paired with substantial system work—sewer replacement, new chimney, updated HVAC, EV charger—and RM2 zoning. The lower-level exterior entrance and prior short-term rental history give clear options for ADU, rental or multigenerational use.
3. 2 Story Home in Lake Oswego
Address: 801 TIMBERLINE DR Lake Oswego, OR 97034
Current price: $924,000
Original list price: $949,000
Reduction from original price: About $25,000
Bedrooms: 4
Bathrooms: 2 full, 1 partial
Square feet: 2,533
Year built: 1977
Sited on a rare 0.34-acre Forest Highlands parcel in Lake Oswego, this two-story home provides roughly 2,533 sf of flexible living with formal living and dining rooms plus a family room with fireplace. Vaulted ceilings and sliding doors open to a wood deck and an in-ground pool. The primary suite includes an attached bonus room suitable for an office, studio, or gym, and photos include conceptual renderings showing redevelopment potential.
Why I Picked This Home
The oversized lot, private backyard with an in-ground pool and flexible interior spaces make this a strong remodel or rebuild candidate. Conceptual renderings in the listing help visualize possible updates or a new build on the site.
4. Traditional Home in MT. PARK
Address: 31 CHURCHILL DOWNS Lake Oswego, OR 97035
Current price: $815,000
Original list price: $895,000
Reduction from original price: About $80,000
Bedrooms: 6
Bathrooms: 4 full, 1 partial
Square feet: 3,794
Year built: 1970
This traditional Mountain Park home offers about 3,794 sf with six bedrooms and 4.5 baths, including two primary suites—one on the main level. Interior features include oak hardwood floors, custom crown molding and three fireplaces. Multiple living areas and a finished basement with a wet bar expand entertaining options, while private outdoor spaces and rare RV/boat parking provide practical flexibility for larger households.
Why I Picked This Home
Two primary suites and many living areas support multigenerational living or flexible household arrangements. The finished basement with wet bar and generous parking for RVs or boats add practical value for families seeking space and functionality.
5. Contemporary Home in Lake Oswego
Address: 14485 RAINBOW DR Lake Oswego, OR 97035
Current price: $650,000
Original list price: $799,000
Reduction from original price: About $149,000
Bedrooms: 3
Bathrooms: 2 full
Square feet: 1,954
Year built: 1979
A contemporary, window-forward home built in 1979 featuring roughly 1,954 sf, two decks and a large lot that frames seasonal views. Updates include Milgard windows, a Presidential roof, fresh paint and new lower-level carpet. The kitchen has European-style cabinets, granite counters and an under-cabinet window; the lower level includes a second kitchenette. Two-car garage and a separate laundry room round out the package.
Why I Picked This Home
Significant exterior and window upgrades plus a new roof reduce near-term maintenance concerns. Multiple decks, abundant windows and a lower-level kitchenette enhance usability and appeal—especially for buyers valuing light, outdoor access and flexible living areas.
What Buyers Should Know About Price Reductions
A price reduction is only one factor to evaluate. Buyers should review comparable sales to gauge market context, assess the property’s condition and estimate repair or remodel costs, and get a thorough inspection. Factor in financing details, including available rate buydowns or seller concessions, and consider local demand and supply dynamics before deciding. Always run numbers on total ownership costs and verify any listing claims.
A price reduction can indicate seller motivation, but it can also mean that the original asking price was higher than the market supported.
The reduction itself is only one piece of the puzzle. Buyers should still review comparable sales, property condition, disclosures, inspection findings, financing terms and neighborhood demand before deciding how much value a price change actually creates.
Interested in One of These Homes?
If one of these properties caught your attention, I can send you the current listing details, photos, disclosures, showing availability and recent comparable sales.
Listing information is subject to change. Properties featured in this article may be listed by brokers other than Steven Tran and Diverse Realty Group.
Steven Tran
Steven Tran is a Portland-area real estate broker, investor and the creator of Portland Home Guide. He contributes local housing, relocation and market context to help readers make more informed decisions across Portland Metro and Southwest Washington.
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