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In Oregon, seasonal fluctuations — like surplus inventory and competition among buyers — can impact the cost of your potential new home. Depending on the area, buying at a certain time of the year can slash the home’s price.
For example, in recent years listing prices in Oregon have been lowest in April. On average, homes were $39,076 less expensive. While in November — the month with the highest prices — the listing prices were $47,155 more than the annual average.
Mortgage rates, on the other hand, are generally lowest in December. But with interest rates on the rise, it pays to explore your options with a trusted mortgage provider to make sure you get the best rate possible.
Read on to find out which time of year is the best time to buy a house in Oregon.
If you're interested in buying a home, the first step is to find an experienced realtor who understands the local market. The Oregon real estate market can change quickly, and a great agent will keep you informed on when and where to buy.
The best way to find a great local realtor is with a free service like Clever Real Estate. Clever matches you with top agents from trusted brands like RE/MAX and Keller Williams.
Interview as many agents as you'd like until you find the perfect fit, or walk away at any time with no obligation. Add your zip code below to request hand-picked agent matches today!
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The best time to buy a house in Oregon
September is generally the best month to buy a house in Oregon. You'll find the best combination of discounts, selection, and low competition from other buyers. Sellers are typically more motivated to sell with the cold weather and school season on the horizon, which means they're more likely to negotiate on price.
If you're more concerned with finding the right home than finding a discount, consider starting your home search in June, July, or August. These months see the largest number of new homes on the market, making it more likely you'll find a home that fits your criteria.
Although these are general rules of thumb, remember that price trends can vary from city to city — and there may even be anomalies within certain neighborhoods. The best way to find a home in your target market is to connect with a local realtor. They'll help you navigate the ins and outs of your market and find the best time to buy a house in Oregon.
The best places to live in Oregon
Only seven miles outside of Portland, this growing town gives residents access to urban amenities without some of the downsides of the city. The suburb is far enough removed that you won't have to deal with traffic, noise pollution, and sky-high city prices on a daily basis. Outdoor recreation space abounds in this area: 90 parks and 30 miles of hiking trails help residents enjoy Oregon’s natural beauty.
This family-friendly area is beloved by natives, transplants, and tourists alike. The city supports the art and outdoor industries and is home to the University of Oregon, encouraging a stable economy and a vibrant community.
The capital of Oregon, this midsize city has a bustling urban center surrounded by rolling hills. The public school system consistently ranks high, neighborhoods are safe and quiet, and 46 parks cover 1,600 acres of the city.
This Pacific Northwest city is blessed with approximately 300 days of sunshine per year. Tucked between the high desert plains to the east and the Cascade Mountains to the west, Bend is a nature lover’s paradise. Housing prices are high and have seen an appreciation value of 37.3% over the past 10 years.
Located in the heart of the Willamette Valley, Corvallis is home to Oregon State University, many vineyards and wineries, and rugged terrain for adventure-seekers. The city is the tenth most populous in Oregon, with plenty of industry to support a growing need for jobs.
Four ways to get a great deal on a home in Oregon
1. Find an experienced Oregon real estate agent
House hunting can be a daunting task, especially if you’re a recent transplant to Oregon. You’ll need to research neighborhoods, school systems, commute times, and more for each home you like. An experienced local realtor will be an invaluable asset, guiding you through the house hunting process and providing insight into the best places and times to buy.
2. Determine what you need and want in a house
You and your realtor will find greater success when you clearly outline your needs, wants, and budget for your new home. The clearer you are, the quicker your realtor can sort through houses that aren't a good fit and introduce you to homes that match what you're looking for.
3. Find a lender and secure financing
Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in Oregon, interest rate is one of the biggest factors when choosing a lender. Doing some upfront research and comparing options to find the best rate could save you tens of thousands of dollars over the life of your loan.
For example, in Oregon a typical house is worth $386,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,377. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,302.
4. Negotiate for the best possible price
When you find a home that fits your criteria, your agent will help you draft and submit an offer. They'll also negotiate with the seller after the home inspection to ensure you get a fair price.
If you're looking for a realtor, Clever can connect you with the top buyer's agents in your area for a free, no-obligation consultation.
Fill out our online form, and a Clever representative will reach out to get the process started and answer any questions.
Finding a great local realtor is the first step in making your home buying dreams a reality. Our free service matches you with top agents from trusted brands like Keller Williams and RE/MAX.
Enter your zip code to request hand-picked agent matches in minutes. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!