Oregon
Housing Market
The landscape of Oregon's housing market evolves with shifting home prices and demand. Houzeo's housing market report tracks constant changes in supply and demand across the state. Our report offers real-time insights to help you make informed decisions.
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MigrationOregon Housing Market Overview
Oregon housing prices show a 4.7% year-over-year increase as of January 2025. This significant growth in home prices indicates market strength. Currently, the median home price in Oregon is $506,800. Additionally, the number of homes sold increased by 7.7% YoY.
You can also check the market competitiveness through median days on the market. Homes in Oregon now spend 62 days on the market before going under contract. All these metrics collectively indicate changes in the Oregon housing market's pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market competitiveness through median days on the market. Homes in Oregon now spend 62 days on the market before going under contract. All these metrics collectively indicate changes in the Oregon housing market's pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: Longer time on the market (62 days), and increased price drops (28.7%) give buyers more negotiation power. However, home prices rising at 4.7% YoY and 30-year mortgage rates at 7% can squeeze buying power.
- If You're a Seller: 21% of homes sell above list price, but more sellers cut prices. Most homes sell close to the asking price with a 98.5% sale-to-list ratio. However, houses take longer to go under contract. Sellers must price competitively and stay flexible as higher mortgage rates reduce buyer demand.
Median Sale Price
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Oregon
Oregon Housing Supply
Oregon's housing market is seeing an increase in housing supply. The number of homes for sale rose by 11.9% year over year in January 2025, reaching 14,227 available homes. Newly listed homes also increased by 25.3%. The market remains more or less balanced with 4 months of supply, indicating a slight tilt towards sellers. A supply below 6 months typically favors sellers, while a higher supply benefits buyers.
What Does It Mean for Home Buyers and Sellers?
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: The 11.9% increase in houses for sale in Oregon gives you more options and negotiation power. With 4 months of supply, homes are selling at a steady pace, but the growing inventory may help stabilize prices.
- If You're a Seller: You need to act fast and sell your home before more supply hits the Oregon real estate market. Demand remains strong in cities like Portland, Eugene, and Bend, where population growth supports the market. To attract buyers, consider staging and marketing your home effectively.
# of Homes for Sale
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Oregon
Oregon Housing Demand
The percentage of homes selling above the list price is a key indicator of housing demand. When more homes sell for more than the asking price, buyer demand remains high. A drop in this percentage suggests weaker demand and growing supply.
21% of homes in Oregon sold above the list price in January 2025. Meanwhile, price drops rose to 28.7%, up by 6.7 points YoY. The 98.5% sale-to-list price indicates slight price adjustments, giving buyers more negotiating power.
What Does It Mean for Home Buyers and Sellers?
21% of homes in Oregon sold above the list price in January 2025. Meanwhile, price drops rose to 28.7%, up by 6.7 points YoY. The 98.5% sale-to-list price indicates slight price adjustments, giving buyers more negotiating power.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: You have more room to negotiate. With 28.7% of homes seeing price drops, you have a good chance to secure a favorable deal.
- If You're a Seller: Price your home strategically to attract buyers. The increasing percentage of homes with price drops indicates shifting demand. The 98.5% sale-to-list price ratio suggests that you may need to adjust expectations to close deals.
Homes Sold Above List Price
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Oregon
Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Is It a Buyers or Sellers Market Right Now in Oregon?
As of January 2025, Oregon's housing market remains balanced, with 4 months of supply. Buyers have more leverage with increased inventory and more homes with price drops. However, high mortgage rates may limit affordability. Continued inventory growth and slowing demand could fully shift the market to buyers.
On the other hand, sellers benefit from rising home prices and the near list sale price. Oregon's real estate market conditions vary across cities, and local trends play a key role in decision-making.
Oregon Housing Market Insights
Oregon's housing prices are up 4.7% compared to last year as of January 2025. This steady increase suggests that the market is stable. The median home price in Oregon is $506,800, which is higher than the national median home price of $418,478. The number of homes sold has increased by 7.7% compared to last year.
In the Oregon market, homes remain on the market for a median of 62 days. This is longer than the national average of 56 days and indicates a less competitive environment.
Oregon's housing market is balanced but is expected to shift towards buyers. Rising inventory and high mortgage rates could push it into a full buyer's market soon. Buyers have more options and stronger negotiation power. This requires sellers to price competitively to attract offers.
In the Oregon market, homes remain on the market for a median of 62 days. This is longer than the national average of 56 days and indicates a less competitive environment.
Oregon's housing market is balanced but is expected to shift towards buyers. Rising inventory and high mortgage rates could push it into a full buyer's market soon. Buyers have more options and stronger negotiation power. This requires sellers to price competitively to attract offers.
Nationwide Migration Trends
Oregon saw significant inbound migration during winter 2024-2025's peak moving season. Over 1,000 residents searched for in-state homes from Nov '24 to Jan '25.
This migration pattern reflects the broader cost of living index trends. When considering the Oregon cost of living, it's important to note that it's 15.1% higher than the national average.
This migration pattern reflects the broader cost of living index trends. When considering the Oregon cost of living, it's important to note that it's 15.1% higher than the national average.
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Frequently Asked Questions
How have home prices changed in Oregon over the past years?
Oregon home prices have continued to rise over the past years, driven by high demand and low inventory. The median house price in Oregon has increased at an annual growth rate of 4.7%, with some regions seeing double-digit percentage growth. You can check your home's fair market value with a free home value estimator.
Are home prices in Oregon dropping?
No, home prices in Oregon are not dropping. The median home price in Oregon is $506,800, with a 4.7% year-over-year increase. While some homes see price reductions, prices largely continue to rise. However, with an increased number of homes for sale in Oregon and longer days on the market, price growth may slow in the future.
What's the average home price in Oregon?
The average price of a home in Oregon varies depending on location, size, and market conditions. It typically ranges from $326,800 for condos to $523,100 for single-family homes.
What is the Oregon housing market forecast for 2025 and beyond?
The housing market in Oregon is expected to stabilize in 2025. With slower price growth and rising mortgage rates, the inventory of Oregon houses may increase enough to slow price growth.
Is now a good time to buy or sell Oregon houses?
You must check for real estate trends in Oregon regarding housing prices and inventory. Sellers can benefit from high demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, that's the best time to buy a house in Oregon.
How does Oregon's housing market compare to the national market?
Oregon's housing market is outperforming the national market, with rapid price growth and strong demand due to relocation from other states and favorable tax conditions.
Should I wait for some time before buying a house in Oregon?
As a buyer, you can get a fair deal due to the increase in inventory of Oregon houses for sale. The average cost of a house in Oregon is currently $506,800. If you plan to buy a house in Oregon, make sure you get a mortgage pre-approval. Also, budget for a down payment of up to 10%.
How can I list my property for sale in Oregon?
You can list your home for sale with a Flat Fee MLS Oregon listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Oregon?
The average mortgage rate for buyers in the Oregon real estate market fluctuates between 6% and 7.5%. Assess your credit score and the current mortgage rates with lenders before you apply for a mortgage.
Is the housing market going to crash in Oregon?
No, according to real estate market experts, the Oregon housing market crash is not on the cards at least for 2025. Home prices are rising, with an increasing number of Oregon homes for sale. While high mortgage rates may slow demand, no sharp drop is expected.
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