Oregon Real Estate Market in 2021: Forecasts + Trends

By Clever Real Estate Updated September 1, 2023

Oregon real estate trends

Oregon real estate trends (May 2022)

How is the real estate market in Oregon?
🏠 Average home value: $496,690	📈 0.44% home value increase month over month
💰 Median sale price: $491,100	⏳ 44 days on the market
🔑 Homes on the market: 7,185	📆 1.5 months of housing inventory
🏦 30-year mortgage rate: 7.03000%	💵 Average income: #N/A
State of the market: A
The Oregon real estate market continues to heat up, with homes being snatched in a little over a month from hitting the market. As home values trend upward and limited inventory keeps pushing demand, the state’s market will keep this healthy buzz for a while.
_{Data last updated May 2022}*

In recent years, Oregon has attracted a wave of new residents eager to make the state their home.

From its rocky coastline in the west to high desert in the east, Oregon contains multitudes. For those undeterred by Oregon's rainy season, the state offers an impressive 2,664 trails that will guide you through serene pine forests and past dramatic waterfalls.

For those in search of creature comforts, the Beaver State also has a well-deserved reputation for its creative craft beer and food scene — not to mention fostering punk and indie rock.

If you're thinking of buying or selling in Oregon, these Oregon housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Oregon

Oregon real estate market forecast for sellers
⏰ Homes are selling 34 days slower than the annual average	💰 Homes are selling for $4,929 more than the annual average
💸 Average listing commission: 2.54%	💸 Average buyer's commission: 2.45%

How to sell a home in Oregon

Cost to sell a home in Oregon

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Buying a home in Oregon

How much home you can buy with $300,000 in...
🏠 Portland: 968 sq ft	🏡 Salem: 1,087 sq ft
🏡 Eugene: #DIV/0! sq ft	🏠 Medford: 1,031 sq ft

Investing in Oregon real estate

Best of Oregon

💡 Did you know…

Portland, Oregon was ranked the third best music city in the U.S. in 2022?

The vibrant city has more musicians per 100,000 residents than 88% of metro areas across the country.

» Taking notes? 🎵 Learn more about the rankings here: The Best Music Cities in the U.S.

The Clever Data Center found that Portland, Oregon has the second-highest number of brunch restaurants per capita?

With approximately 14 brunch restaurants per 100,000 people, Portland is one of the best spots to enjoy classic breakfast foods, unique local specialties, and tasty brunch cocktails.

» Hungry for more info? 🍳 Read our full study here: The Best Brunch Cities in America

Each month, we compare locations in Oregon based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Oregon
1. Washington County
2. Hood River County
3. Clackamas County
4. Multnomah County
5. Deschutes County

Ready to buy a home in Oregon? Eligible buyers get cash back with Clever!

Worst of Oregon

Each month, we compare locations in Oregon based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Oregon
1. Klamath County
2. Coos County
3. Malheur County
4. Lincoln County
5. Douglas County

Oregon resources

👋 Next Steps: Talk to an expert!

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Frequently asked questions about Oregon real estate

Is it a buyer's or seller's market in Oregon?

It is currently a seller’s market in Oregon. High demand and low inventory are causing listing prices to shoot up across the state. However, each city and town has its own trends, which is why it’s best to check in with a local agent before making any real estate decisions.

Is Oregon a good state to invest in real estate?

Yes, Oregon is a good state to invest in real estate, especially in bigger cities like Portland and Salem, where demand for housing is always high. However, to maximize your investment, you'll first need to learn what types of properties are profitable and which neighborhoods are best to buy in. Check out our guide to real estate investing to learn more.

Is it a good time to buy a house in Oregon?

It might not be an ideal time to buy a house in Oregon for most people. Listing prices are much higher than normal and there aren’t many properties on the market to choose from. However, mortgage rates are low, meaning that you can still save money over time with a locked-in low rate. If you find the right real estate agent, then they can help you find the best deal on the perfect home.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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