The Oregon housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price for homes in Oregon stands at $504,800, reflecting a slight decrease of 0.4% year-over-year. In contrast, the Median List Price has increased by 2.4% to $532,000, indicating a divergence between seller expectations and actual sale outcomes.

Price Per Square Foot metrics show an upward trend, with the median Price Per Square Foot rising by 3.4% to $298, and the Median List Price per square foot increasing by 3.3% to $311. This suggests a steady appreciation in property values on a per-square-foot basis, despite the overall decline in the Median Sales Price.

In terms of sales activity, 3,016 homes were sold, marking a 1.3% increase from the previous year. However, Pending Sales have decreased by 8.6%, totaling 3,668, which may indicate a slowdown in future sales activity. New Listings have also seen a significant decline of 13.3%, with only 3,607 new properties entering the market, potentially contributing to the reduced Pending Sales.

Inventory levels have risen by 5.8% to 9,649 homes, providing more options for buyers. The Months of Supply, a critical indicator of market balance, has increased by 10.0% to 3.20 months, suggesting a shift towards a more balanced market, though still favoring sellers slightly.

The Median Days on Market for homes is 56 days, a slight decrease of 1.0% year-over-year, indicating that homes are selling marginally faster than they did a year ago. The average sale to list ratio has improved by 0.5% to 99.0%, showing that homes are selling closer to their asking prices. Additionally, the percentage of Homes Sold above list price has increased by 2.8% to 26.3%, highlighting competitive bidding in certain segments of the market.

Price Drops have become more common, with 24.9% of listings experiencing reductions, up by 2.8% from the previous year. This trend may reflect sellers adjusting their expectations in response to market conditions. Meanwhile, 35.4% of homes are going off the market within two weeks, a slight increase of 0.4%, indicating continued demand for well-priced properties.

Overall, the Oregon housing market in February 2025 exhibits a mix of rising inventory and list prices, alongside a slight decline in sales prices and Pending Sales. These dynamics suggest a market in transition, with potential opportunities for both buyers and sellers depending on their specific circumstances and strategies.