The Pearl District is Portland’s transformed former warehouse and rail-yard district, occupying roughly the area bounded by W Burnside, NW 14th, NW Broadway, and the Willamette River just north of downtown. Over the past three decades the Pearl has become the metro’s densest urban condo submarket, with high-rise and mid-rise buildings organized around galleries, restaurants, and Jamison Square. The neighborhood is directly adjacent to downtown and served by the Portland Streetcar.
What makes the Pearl unusual as a real estate market is that neighborhood-level averages tell you almost nothing. The building matters more than the neighborhood. Elizabeth Lofts trades on completely different fundamentals than the Metropolitan; the Cosmopolitan and the Encore are near-neighbors with entirely different HOA structures, litigation histories, and rental compositions. If you’re serious about a Pearl condo, you’re serious about a specific building.
About this data. Market statistics on this page are compiled from sold and active residential listings reported to Regional Multiple Listing Service (RMLS) over the trailing 12 months. Refreshed twice daily; last refresh Sep 8, 2026 at 11:48 PM Pacific. Data deemed reliable but not guaranteed; statistics reflect listing activity reported to RMLS and may not include private, off-market, or new construction sales. © RMLS. Equal Housing Opportunity. Presented by Lovejoy Real Estate.
The single-family row above will almost always be zero or single-digit. Pearl is a condo market. Read the condo row. Even within the condo row, the median is smoothing across an enormous range: 500 sq ft studios in older loft conversions and 3,000 sq ft penthouses in newer towers are pooled together. That’s why we publish the top-15-buildings drilldown further down this page. Read the building-level data if you want a comp that actually matches what you’re looking at.
Also worth knowing: our building-level data anchors on the RMLS UnparsedAddress field rather than legal description, so the sold count per building matches what your agent sees on RMLSweb. If you see a number here that doesn’t match a pull your agent did, tell us. That’s a data-quality signal we want to catch.
Fifteen or so buildings dominate the market by unit count and turnover. The Metropolitan and Elizabeth Lofts anchor the higher-price top tier. The Cosmopolitan carries litigation history buyers should have their agent review before writing an offer. Encore, Streetcar Lofts, and 937 Condominiums cover the middle range. Casey, Marshall Wells Lofts, Riverstone, and Chown Pella Lofts each carry distinct HOA and character profiles.
Per-building median sale, sold count, $/sqft, and days-on-market are in the buildings table below. That table is refreshed twice daily on the same schedule as the main statistics.
Pearl District trades by building, not by neighborhood average. The largest condo and loft buildings sit below, ordered by total unit count. Sold, active, and turnover figures cover the trailing 12 months. Parking and storage condos are excluded.
| Building | Total units | Sold (12mo) | Active | Turnover | Median sale | $/sqft |
|---|---|---|---|---|---|---|
| Cosmopolitan on the Park | 345 | 2 | 10 | 0.6% | $378K | $503 |
| Waterfront Pearl | 231 | 11 | 9 | 4.8% | $450K | $379 |
| The Casey | 231 | 7 | 2 | 3.0% | $850K | $450 |
| Elizabeth Lofts | 179 | 11 | 2 | 6.1% | $335K | $323 |
| Pinnacle Condominiums | 175 | 5 | 8 | 2.9% | $341K | $297 |
| Avenue Lofts | 167 | 9 | 4 | 5.4% | $384K | $343 |
| Marshall Wells Lofts | 163 | 10 | 5 | 6.1% | $313K | $346 |
| Vista North Pearl | 143 | 6 | 11 | 4.2% | $615K | $443 |
| Lexis on the Park | 139 | 8 | 6 | 5.8% | $205K | $349 |
| Streetcar Lofts | 133 | 10 | 6 | 7.5% | $282K | $414 |
| Encore Condominiums | 132 | 13 | 1 | 9.8% | $413K | $395 |
| Metropolitan Condominiums | 132 | 8 | 4 | 6.1% | $623K | $497 |
| Tanner Place | 130 | 6 | 5 | 4.6% | $495K | $389 |
| Bridgeport Condominiums | 129 | 5 | 7 | 3.9% | $480K | $373 |
| Riverstone Condominiums | 129 | 4 | 3 | 3.1% | $563K | $474 |
Building roster from the Lovejoy buildings registry; sold and active counts pulled from RMLS over the trailing 12 months and matched to canonical buildings via legal description and subdivision. Turnover is sold count divided by total units. Buildings with zero recorded sales in the window show "n/a" for median and $/sqft; this is common in tightly-held buildings and does not mean the building is inactive. Buyers should ask about FHA approval status, HOA reserves, pet and rental rules, and any open or recent litigation before writing on any specific building. Source: RMLS. Data deemed reliable but not guaranteed. Last refreshed Sep 8, 2026 at 11:48 PM Pacific.
Restaurant turnover in the Pearl is heavy, so this section names anchors rather than a full lineup. Powell’s Books at NW 10th and Burnside is the district’s cultural anchor. The Portland Art Museum’s Pearl-adjacent institutions and Jamison Square are the primary public gathering points. First Thursday in the NW 13th arts district has run for decades and continues.
Jamison Square at NW 10th and Johnson is the neighborhood’s primary park, with a shallow fountain popular in summer. Tanner Springs Park at NW 10th and Marshall is a smaller, quieter native-plants park with weekly bird-watching draws. The Fields Park at NW 10th and Overton fills out the northern edge. Streetcar access at multiple stops and the Broadway Bridge put the east side and the west hills within easy reach.
The Pearl is served by Portland Public Schools. Boundary specifics change by address; verify each specific address against the PPS attendance-area map. Chapman Elementary west of I-405 and MLC (Metropolitan Learning Center) K-12 downtown are the closest options for many Pearl addresses.
The Portland Streetcar runs directly through the Pearl with stops every few blocks. TriMet bus service is extensive. MAX Yellow, Blue, Red, and Green Lines are reachable at nearby stations within a few blocks of the eastern Pearl. I-405 defines the western edge for freeway access. Downtown Portland is essentially within the Pearl’s southern boundary. PDX is about 15 minutes via I-405 to I-5 to I-84.
The Pearl is the metro’s premier dense-urban condo submarket. You get proximity to downtown, transit, and a concentration of restaurants and galleries no other Portland neighborhood matches. You give up private outdoor space, single-family privacy, and HOA-free ownership; and for buildings with litigation or specialty deferred-maintenance histories, you can give up meaningful resale liquidity.
The direct alternatives: Northwest Portland (Alphabet District and Nob Hill) trades some density for older Victorian and Craftsman single-family stock; South Waterfront trades the streetcar-village feel for high-rise river views; Lloyd District trades First Thursday for cheaper condo entry. If you want dense-urban but need private outdoor, look at NW Portland. If you want the river view, look at South Waterfront.
Reach out before you’re ready. The earlier we talk, the more options you have. Every consultation starts with your priorities: budget, building preferences, timing, and what you’re not willing to give up. Then we narrow to the specific buildings that actually fit. Talk to a broker who works the Pearl specifically: use the form below, or reach us at clientcare@lovejoyrealestate.com.