Published November 1, 2026 in Market Update

This market still has more buyers than listings

By Shelly Kivett

Real estate, Buy box 2

Here is the number that matters most: pending sales are nearly keeping pace with everything available. The Real Estate Data Aggregator counted 929 homes under contract versus 965 homes for sale across this market in the three months ending August 31, 2026. Buyers are still out there. They are just working with fewer choices.

The Real Estate Data Aggregator also counted 802 homes sold and 1,064 new listings in the same period. More homes came to market than closed, but buyers absorbed most of them. That is a balanced picture, not a one-sided one.

The national backdrop

Nationally, Realtor.com reported that active listings topped 1.16 million homes for sale in September 2026. That is a lot of supply in many parts of the country. But this market's pending-to-available ratio tells a different story locally.

Realtor.com also reported that mortgage rates climbed above 7% for the first time since January 2025, and that 20.8% of listings nationally took a price cut in September, the highest share since October 2022. Higher rates do slow some buyers. Pricing carefully matters more when that is the backdrop.

How each ZIP code is reading

Not every area inside this market moves the same way. Here is what the Real Estate Data Aggregator counted for each ZIP in the three months ending August 31, 2026.

Speed: how quickly homes are going under contract

Speed varies a lot by ZIP. The Real Estate Data Aggregator shows that in 97034 (Lake Oswego), 38.7% of homes went under contract within two weeks of listing. In 97224, that share was 37.6%. In 97301, it was 34%. On the other end, only 18% of homes in 97355 (Lebanon) went under contract that quickly, and 97317 (Salem) was at 19.3%.

Prices: a mixed picture depending on where you are

Median sale prices moved in different directions by ZIP. The Real Estate Data Aggregator shows 97317 (Salem) up 12.8% year over year to $530,000, while 97002 (Aurora) fell 34.2% to $799,600. That Aurora drop is large, and with only 14 sales in the period, a few higher or lower sales can move the median significantly. Read small-volume ZIPs with that in mind.

What this means for sellers

Demand is real, but buyers are paying close attention to price. The Real Estate Data Aggregator shows that in most ZIPs, homes sold at or very near list price. In 97303, the average sale came in at 100.4% of list. In 97301, it was exactly 100%. That tells you well-priced homes are still finding buyers.

At the same time, Realtor.com reported that 20.8% of listings nationally took a price cut in September 2026. Overpricing a home in this environment is a real risk. The gap between a home that sells and one that sits often comes down to that first number.

What this means for buyers

With 929 pending sales against 965 homes available, buyers should be ready to move when the right home comes up. That does not mean rushing into the wrong one. It means having your financing sorted and knowing your priorities before you walk in the door.

Months of supply range from 2 months in 97017 (Colton) and 2.6 months in 97224, to 5.2 months in 97355 (Lebanon). More supply means a little more room to negotiate. Less supply means less time to decide.