H
ome buyers are gaining leverage in Oregon’s tight residential market, where supply has long lagged behind demand. Affordability remains a challenge, yet 2025 saw tangible progress. Zillow senior economist Kara Ng highlighted that falling mortgage rates, steadier home values, and rising incomes helped buyers. Nationwide, 30‑year fixed rates fell to 6.21% from 6.72% a year earlier, and U.S. mortgage payments dropped over $100 a month. Ng expects a spring upswing in the market, noting that even modest rate changes can decide whether a household stays out of the market or finally makes a purchase.
Sellers, meanwhile, are seeing premium prices for well‑positioned, turnkey homes. Portland broker Marisa Swenson of Modern Homes Collective reports that properties with thoughtful updates, strong marketing, and desirable locations attract multiple competitive offers. Turnkey homes are commanding top dollar, though a few fixer‑ups—such as a Southeast Portland house that sold $270,000 over asking—are exceptions.
Zillow’s special report on the top 10 Oregon houses and top 5 condos that exceeded asking prices from January to November 2025 highlights the most striking transactions. The highest‑priced house sold for $850,000 over the asking price on Waldron Trail in Bend, a 59.5‑acre estate that fetched $3.35 million against a $2.5 million listing. The top condo surpassed the asking price by $245,000: a 10th‑floor unit in the Westerly high‑rise on Northwest Westover Road, sold for $1.495 million versus a $1.25 million asking.
Other notable examples include:
- A Southeast 18th Avenue home in Portland’s Sellwood‑Moreland sold $265,000 over asking for $1.365 million (24.1% above the $1.1 million start).
- A Southeast Ladd Avenue Craftsman in Hosford‑Abernethy sold $270,000 over asking for $920,000 (41.5% above the $650,000 start).
- An Ashland Mine Road Craftsman with 180‑degree views sold $278,777 over asking for $1.777 million (18.6% above the $1.499 million start).
- A Southeast Woodward Street Craftsman in Richmond sold $285,000 over asking for $1.28 million (28.6% above the $995,000 start).
- A Southwest Fairview Boulevard Colonial Revival in Arlington Heights sold $300,000 over asking for $2.25 million (15.4% above the $1.95 million start).
- A Southeast Andover Place mid‑century home in Sellwood‑Moreland sold $300,000 over asking for $1.65 million (22.2% above the $1.35 million start).
- A Hood River ranch‑style home on East Forden Drive sold $300,000 over asking for $2.1 million (16.7% above the $1.8 million start).
- A Bend Plainview Road house sold $300,000 over asking for $2 million (17.6% above the $1.7 million start).
- A Northeast Tillamook Street Victorian in Irvington sold $305,000 over asking for $1.35 million (29.2% above the $1.045 million start).
In the condo market, the top five over‑asking sales were:
- $245,000 over asking for a Westerly high‑rise unit (1,495 k).
- $75,000 over asking for a Westerly 10th‑floor condo (1,325 k).
- $65,000 over asking for a Pinnacle penthouse (1.2 m).
- $51,000 over asking for a Northeast Tillamook Street condo (500 k).
- $50,000 over asking for a Gregory building unit (300 k).
These transactions illustrate a market where buyers who can afford cash or secure current mortgage rates are outpacing sellers who have invested in modern updates and prime locations. The trend points to a continued shift toward buyer advantage, with sellers needing to offer turnkey, well‑marketed properties to command premium prices.
