The Oregon housing market in January 2025 presents a dynamic landscape characterized by rising prices and increased activity. The Median Sales Price for homes in Oregon stands at $507,900, reflecting a modest year-over-year increase of 1.9%. This upward trend in sales prices is accompanied by a more pronounced rise in the Median List Price, which has reached $519,900, marking a 5.7% increase from the previous year.

In terms of Price Per Square Foot, the Median Sales Price is $290, with a slight year-over-year increase of 1.1%. Meanwhile, the Median List Price per square foot has risen by 3.6% to $308. These figures suggest a steady appreciation in property values, albeit at a slower pace for sales compared to listing prices.

The market activity in Oregon is robust, with 2,745 Homes Sold in January, representing a significant 6.7% increase from the previous year. Pending Sales have also seen a notable rise, with 3,792 transactions pending, up by 7.8% year-over-year. This heightened activity is further supported by a substantial 21.9% increase in New Listings, totaling 3,896 for the month.

Inventory levels have grown to 9,476, reflecting a 7.0% increase from the previous year. The Months of Supply, a critical indicator of market balance, has risen by 10.0% to 3.5 months. This suggests a slight shift towards a more balanced market, although it still leans towards favoring sellers.

The Median Days on Market for homes in Oregon is currently 62 days, which is a 5.0% increase from the previous year. This indicates that homes are taking slightly longer to sell, possibly due to the increased inventory and New Listings.

The average sale to list ratio remains relatively stable at 98.5%, with a marginal year-over-year increase of 0.1%. However, the percentage of Homes Sold above list price has decreased slightly by 0.2% to 21.0%. This could indicate a cooling in competitive bidding scenarios.

Price Drops have become more common, with 30.1% of listings experiencing reductions, marking a 7.6% increase from the previous year. Additionally, 30.2% of homes are going off the market within two weeks, a 4.1% increase year-over-year, suggesting that while some properties are lingering, others are still moving quickly.

Overall, the Oregon housing market in January 2025 is characterized by rising prices, increased sales activity, and a growing inventory. While the market remains competitive, there are signs of a gradual shift towards a more balanced environment, offering opportunities for both buyers and sellers.