Arrival view of Neighborhood with Pools

The Oregon real estate market in 2024 is experiencing dynamic changes, and with Privy now having first-party MLS access through the Regional Multiple Listing Service (RMLS), users can access even more precise and timely data. Privy, a comprehensive real estate investing platform, helps investors filter down to the best deals and provides precise analysis to minimize risk and maximize profit.

Market Overview


Rising Home Prices

In 2024, the median home price in Oregon rose by 3.9% year-over-year to $482,200. This increase is driven by high demand and limited inventory, with cities like Redmond and Tigard seeing significant price hikes. Privy’s MLS access allows users to track these trends in real time, ensuring they have the most accurate information when making investment decisions.

Increased Sales Activity

Despite higher interest rates, the number of homes sold in Oregon has increased. Buyers remain active due to Oregon’s attractive living conditions and economic opportunities. Privy helps investors stay ahead by refining thousands of listings into their preferred buy box, making it easier to identify profitable opportunities.

Limited Inventory and Competitive Bidding


Oregon’s low inventory has created a seller’s market with competitive bidding. Homes in urban areas like Portland often receive multiple offers and sell quickly, sometimes above the asking price. Privy’s platform allows users to analyze these competitive environments, providing confidence in the numbers and helping investors make informed decisions quickly.

Privy live in Oregon on the MLS

Regional Variations

  • Portland

    Portland, the largest city, remains a highly competitive market, driven by a diverse population and a strong tech industry. Privy’s tools help investors navigate this fast-paced market by providing up-to-date listings and detailed market insights.
  • Bend

    Known for its quality of life and outdoor activities, Bend has seen rapid growth and a hot housing market. Privy helps investors capitalize on these trends by offering precise market analysis and real-time data.
  • Rural Areas
    Rural areas are growing slower, with more moderate price increases. Privy’s platform makes finding larger properties and quieter lifestyles easier, appealing to those looking to invest further from a major metro market.

Challenges and Opportunities

The Oregon real estate market faces challenges like affordability issues and limited inventory. However, opportunities abound due to strong economic conditions and population growth. Privy’s comprehensive platform is designed to help investors navigate these challenges by providing tools for precise analysis and minimizing risk.

Efforts to increase housing supply and improve affordability, such as new construction and down payment assistance programs, are crucial. Privy’s real-time data and MLS access make identifying and acting on these opportunities easier for investors.

Conclusion

Rising home prices, increased sales activity, and competitive bidding characterize the Oregon real estate market in 2024. Supported by strong economic conditions and high demand, the market remains robust. While challenges persist, the outlook for the rest of the year is positive, with stable mortgage rates and a potential increase in listings offering hope for a more balanced market.

With Privy’s new MLS access through RMLS, users can now access the most accurate and timely real estate data available. This enhancement ensures that investors have the best tools to minimize risk and maximize profit, confidently making informed decisions.