The current Oregon housing market trends show a market that's finding its footing and becoming more balanced. While home prices are still holding steady with a median around $484,700, we're seeing more homes available on the market and they're taking a bit longer to sell compared to the recent past. This shift means it's a more favorable time for buyers to explore their options without the extreme pressure of a few years ago.

Let's dive into what this all means, based on the latest insights.

Understanding Today's Oregon Housing Market Trends

A Snapshot of Oregon's Housing Market

Looking at the big picture, Realtor.com® data from October 2025 gives us a clear view. The median home price across the entire state is $484,700. That's a modest increase of just under 1% compared to last year. Homes are spending an average of 81 days on the market, which is about 8.6% longer than this time last year. And crucially, the number of homes actively for sale has grown significantly, up by over 8% year-over-year, reaching about 30,700 listings. This growing supply is a key factor changing the game.

On the rental side, things are quite different. The median rent sits at $1,775 per month, which is actually down over 12% from last year. Rental inventory has also seen a huge jump, up by over 40%.

What does Realtor.com®'s “Hotness Index” say about Oregon? Well, it ranks us at #49 nationally, described as “slow and calm.” This confirms what the other numbers suggest: Oregon's housing market isn't the scorching hot, fast-paced environment it was not too long ago.

Home Prices: What's Happening with Oregon Home Values?

Let's break down the price tags. The statewide median home price is $484,700, as mentioned. The price per square foot averages $293. While these numbers are up slightly over the last three years, the year-over-year changes are pretty modest.

But Oregon isn't just one big market; it's a collection of diverse cities and counties, each with its own vibe and price point. For example:

• Portland: Sees a median home price of $529,000.
• Bend: Known for its outdoor lifestyle, Bend has a higher median price of $775,000.
• Salem: The state capital, Salem, is more affordable with a median price of $450,000.
• Eugene: Home to the University of Oregon, Eugene sits around $479,900.

In terms of counties, Deschutes County (where Bend is located) and Clackamas County show higher median prices, often over $675,000, while areas like Klamath County offer much lower entry points, with a median home price around $175,000.

In my experience, these regional differences are huge. Buyers looking for affordability might focus on areas like Salem or Klamath Falls, while those seeking a certain lifestyle or career opportunities might target Portland or Bend, understanding they'll pay a premium. The slight year-over-year increase in price is stable, not explosive, which is good news for buyers looking for predictability.

Housing Supply: More Homes on the Market?

This is where we see one of the most significant shifts. As of October 2025, Realtor.com® reports 30,689 active listings across Oregon. That's an increase of over 8% compared to last year and a whopping 30% increase over the last three years.

What does this mean on the ground? It means buyers have more choices. Instead of feeling like they have to settle for the first house they see, they can take their time, compare properties, and negotiate more effectively. For sellers, it means they need to be more strategic. Your home needs to stand out, be priced right, and be in great condition to attract attention.

I believe this increase in inventory is a healthy sign. It signals a market that's moving away from the extreme seller's advantage we saw during the pandemic-driven boom. It allows the market to breathe and become more accessible.

Home Sales: How Fast Are Homes Selling?

When we talk about how fast homes are selling, we look at “days on market.” Statewide, the average is now 81 days. This is up by 8.6% from last year. Realtor.com®'s Hotness Index also flags this, noting that homes take a median of 81 days to sell in Oregon.

For sellers, this means patience is key. Your home might not get an offer within hours of listing, which was common for a while. For buyers, this longer timeline can be an advantage, giving you more time to secure financing, arrange inspections, and make sure the home is truly the right fit.

The sales-to-list price ratio is reported as 100% for both buyers and sellers, meaning homes are generally selling at their asking price. This is a good indicator that while the market is calmer, prices are still holding their value.

Is Oregon a Seller's Real Estate Market Anymore?

This is the million-dollar question for many. Based on the data, Oregon is moving away from being a strong seller's market. The Realtor.com® Hotness Index rating of #49 nationally and the “slow and calm” description are big clues.

Here's why:

• Increased Inventory: More homes mean more competition for sellers to attract buyers.
• Longer Days on Market: Homes aren't flying off the shelves instantly. Buyers have more time to consider their options.
• Stable Prices: While prices haven't crashed, they aren't skyrocketing either.

This doesn't mean sellers can't get good deals. A well-prepared home in a desirable location will always attract buyers. However, the days of expecting multiple offers significantly above asking price within a day or two are less common right now. It’s becoming a more balanced market, where buyers have more leverage than they did recently. I'd say it's leaning more towards a buyer's market, especially in areas with higher inventory.

Oregon Rental Market: A Different Story

The rental market in Oregon is telling a different tale compared to the sales market. Realtor.com® data shows a median rent of $1,775 per month. This is a significant decrease of over 12% year-over-year. Rental inventory has also surged by over 40%, meaning there are many more places available for renters.

This trend is great news for people looking to rent. It suggests that the pressure on rental prices has eased considerably, offering more affordable options and potentially more negotiation power for tenants.

Why the shift? It could be a combination of factors: increased construction of rental units, people who were waiting to buy now having more options, or perhaps people moving out of more expensive rental markets.

Looking Regionally: What's Happening in Key Cities?

Oregon's distinct regions offer varied experiences for buyers and renters.

• Portland Metro Area: Cities like Portland itself ($529,000 median), Beaverton ($544,900), and Hillsboro ($525,000) show higher median prices, typical of larger urban centers with strong job markets. Rental prices here are also generally higher, with Portland rentals averaging $1,814/month.
• Central Oregon: Bend continues to be a premium market, with a $775,000 median home price and the highest rents at $2,395/month. Redmond also sits at $525,000.
• Willamette Valley: Cities like Salem ($450,000), Eugene ($479,900), and Albany ($439,900) offer more moderate price points. Rental rates here are also more accessible, with Salem averaging $1,425/month.
• Southern Oregon: Medford ($429,000) and Grants Pass ($399,999) present more affordable options compared to the metro areas.

These variations are why understanding your specific target location is so important. What's true for Portland might not be true for Klamath Falls, where the median home price is a much lower $259,000.

In short, the current Oregon housing market trends are signaling a return to more normal conditions. This means steady appreciation rather than rapid gains, and a more balanced negotiation environment. It's a market that rewards careful planning, thorough research, and realistic expectations.

Oregon Housing Market Forecast: 2026 and Beyond

Will Home Prices Drop or Crash in Oregon?

Right now, the data points towards a stabilizing market, not a crash. A crash usually happens when there's a sudden, sharp drop in prices across the board, often due to big economic problems or a flood of foreclosures. That doesn't seem to be the situation in Oregon currently.

Instead of a crash, what's more likely is a period of moderate growth or stabilization. Prices might not jump up dramatically like they did a few years ago, and in some specific areas or for certain types of homes, we could see slight dips if demand softens further. However, a widespread, significant price drop isn't the most probable scenario given the current steady median prices and increasing, rather than decreasing, inventory.

Oregon Housing Market Forecast: 2026

Looking ahead to 2026, I expect Oregon's housing market to continue its path towards balance.

• Prices: We'll likely see continued modest price appreciation, perhaps similar to the rates we saw in 2025 (around 1-2% year-over-year). This means homes will continue to hold their value, but won't skyrocket. Some areas might see prices level off completely.
• Inventory: The number of homes for sale should remain higher than in the peak seller's market days. This gives buyers more choice and negotiation power. The pace of inventory growth might slow down, though.
• Sales Speed: Homes will likely continue to take a reasonable amount of time to sell – perhaps staying around the 80-day mark or slightly longer. This is good for buyers who want time to make thoughtful decisions.
• Interest Rates: This is a big wild card. If mortgage interest rates stabilize or even begin to ease slightly, it could boost buyer demand and support steady price growth. If rates stay high or climb, affordability will remain a challenge, keeping price growth very slow.

Overall, 2026 is shaping up to be a year of continued adjustment and relative stability for the Oregon housing market. It's a good time for buyers to be active and for sellers to be realistic and strategic.

Oregon Housing Market Forecast: 2027

Forecasting 2027 gets even more speculative, as it depends heavily on the economic climate and broader trends that unfold in 2026. However, here’s a possible outlook:

• Prices: If the economy remains reasonably strong and interest rates have settled into a more manageable range (perhaps slightly lower than current highs), we might see a return to slightly stronger, though still moderate, price growth. Think more along the lines of 2-4% annually, which is considered healthy long-term appreciation. If economic challenges persist or interest rates remain stubbornly high, prices could continue to see very slow growth or even stagnation. A crash is still highly unlikely unless there's a major unforeseen economic event.
• Market Dynamics: The market should continue to be more balanced. Buyers will likely still have a decent selection of homes and negotiating opportunities, but the urgency might increase slightly if affordability improves.
• Renter Market: The rental market, which saw significant drops, might start to see rents stabilize or even slowly tick upwards again as demand potentially increases or new construction slows.

In simple terms: For 2026 and 2027, the outlook is generally one of stability and moderate movement, rather than dramatic swings. The days of the hyper-competitive, rapidly appreciating market seem to be behind us for now, replaced by a more sustainable and balanced environment. It’s less about predicting a boom or bust, and more about navigating a market that is finding its new normal.