Oregon Housing Market Remains Strong Despite Rising Rates
Even with rising interest rates, the Oregon real estate market is showing remarkable resilience as we head into 2025. According to November 2024 data from RMLS, there’s a positive outlook, especially in Salem and the surrounding areas, where market trends suggest a steady strengthening.
A key sign of this stability is the increase in the average sale price, which has reached $556,560—up 3.7% compared to November 2023. The median sale price also rose to $493,000, marking a 3.8% increase over the past year. These price gains highlight a healthy market with strong buyer interest and consistent home values.
In addition, the number of active listings saw a significant rise, reaching 11,301 properties in November—an increase of 13.3% from the previous year. This growth in available inventory is vital to meeting the demand driven by ongoing population growth in Salem and across the state. Combined with a 12.2% rise in new listings compared to November 2023, these positive trends suggest more options for homebuyers in the months ahead.
With these positive trends shaping the market, it’s an exciting time to consider buying or selling. If you’re thinking about making a move, now is a great opportunity to explore your options, please don’t hesitate to reach out to me!
