McMinnville, Oregon Real Estate Market Update and 2025 Forecast
Each month, we bring you real estate market insights on communities in and around the Portland metro area. This month, we turn our attention to McMinnville, a city nestled where the North and South forks of the Yamhill River meet. The picturesque town is home to 34,319 residents and serves as the seat of Yamhill County. It sits in the heart of the Willamette Valley and is well known for its numerous wineries and vineyards, charm, and being home to Linfield University.
Let’s learn more about McMinnville’s real estate market and our predictions for 2025. Be sure to also explore our interactive home search map to view all the homes for sale in McMinnville.
McMinnville, Oregon Housing Inventory is Rising
The inventory of available homes on the market in McMinnville has been on the rise since May. Once the Spring peak in sales comes to an end in the Portland metro housing market, we typically see inventory start to increase.
This year the inventory in McMinnville has been higher than previous years, with a 7-day average of 69, vs. the most recent 2023 total of 63. Inventory dipped in the spring as usual, and has been rising steeply in August and September, which is also common. Typically inventory will start decreasing in October or November and that decrease will speed up as we get closer to the major holidays.
Inventory:
McMinnville, Oregon Inventory Chart. Courtesy of Fidelity National Title
McMinnville, Oregon Real Estate Prices are Increasing
The prices of McMinnville homes, most accurately represented by the price per square foot, have been rising overall since March. Each year in the Portland metro area we expect to see an increase in prices during the Spring selling season, but over the past two years home prices in McMinnville have continued to rise through the end of fall before dipping in winter.
The current median list price stands at $579,000, higher than last year’s number of $539,500. The average price per square foot is $298, higher than previous years’ totals.
The 298 number is lower than in previous weeks (see the 7 day average line), as 45% of listings have seen price decreases and only 4% have had increases. With more sellers lowering prices to adjust to market conditions, we’re seeing a more favorable market for buyers that will lead to more negotiating opportunities and continued price changes by sellers.
McMinnville, Oregon Price per Sq. Ft. Chart. Courtesy of Fidelity National Title
McMinnville Average Days on the Market – Fairly High
In April, the number of days for a home in McMinnville to stay on the market reached its highest point in the last few years. The average number of days for listed homes to remain on the market in this suburb has been gradually decreasing since, with the average now at 75 days. This number is still higher than the average at this time in 2021 through 2023, as you can see on the chart below. Since we expect the fastest rate of home sales during the Spring months each year in the Portland metro area, this April peak in market time was a deviation from the norm. But while the selling season has been slow to gather momentum, the steady decrease in days on the market (DOM) demonstrates that homes are still selling in McMinnville. When combined with rising prices, this decrease in DOM reveals that the McMinnville housing market has retained some strength.
McMinnville, Oregon Average Days on Market Chart. Courtesy of Fidelity National Title
McMinnville, Oregon Homes for Sale
Browse all McMinnville homes for sale using the interactive map on Portlandhomesforsale.com.
McMinnville, Oregon 2025 Real Estate Forecast
All things being equal, McMinnville’s real estate market is expected to grow in 2025. All of the suburbs around Portland are vastly outperforming the city of Portland proper. We expect that growth to continue in 2025, accelerating with the incoming interest rate drops. We predict the McMinnville real estate market (which is already performing well against other suburbs) to increase in price 8% in 2025.
Work With a Top McMinnville Real Estate Agent
If you are attracted to the benefits of McMinnville, you aren’t alone, and all trends point to it remaining a solid investment. Our top 1% buyer’s agents can help you get primed for your home purchase. If you’re thinking of selling your current home in the next twelve months, our top 1% seller’s agents have the local expertise needed to provide sound advice. Give us a call today or chat with the bot on our site!
