Newberg, Oregon Real Estate Market Update and 2025 Forecast
Each month, we share our Portland suburb market reports to keep you updated on real estate market activity in specific suburbs in and around Portland. This month, we focus on Newberg. This suburb 24 miles southwest of Portland offers a blend of rural living with easy access to city amenities that keep it in demand for Portlanders. It was also voted #4 by USA Today in their ranking of the 10 Best Small Town Food Scenes. It is known as the “Gateway to Oregon’s Wine Country,” with several vineyards and lush countryside. Suffice it to say, Newberg holds plenty of appeal.
This article will explore the current Newberg real estate market, analyzing key trends and data to help us understand what it happening now and what we can expect.
Newberg, Oregon Housing Inventory Remains Steady
As of November 2024, Fidelity National Title shows that inventory stands steady at around 88 homes. In contrast, the broader Portland area is experiencing a decrease in inventory, with 1,432 active listings. The decline in Portland is consistent with the seasonal trends, where the market sees less inventory as it heads into the winter months. As has occurred in previous years, we expect inventory in Newberg to drop as well as we move into and past the holidays, typically coming to a low point in spring where the market tends to favor sellers.
Newberg, Oregon Inventory Chart, Courtesy of Fidelity National Title
Newberg, Oregon Real Estate Prices are Higher Than Portland’s Average
Currently, the price per square foot averages $313. In our time in the Oregon real estate market, we have found that the price per square foot is the best source for price comparisons. Prices have leveled out at this point this year and in 2023 vs. the fluctuations in previous years. Inventory has remained higher the last two years, keeping prices from rising, but those sellers have also avoided dramatically reducing their prices in order to sell. The sellers are mostly holding out, waiting for the market to improve, or waiting longer time periods to get the price they want.
Newberg, Oregon Price per Sq. Ft Chart, Courtesy of Fidelity National Title
When comparing the price per square foot, Newberg’s $313 price per square foot is pretty close to the Portland Metro area’s average of $317. Portland’s housing tends to be denser and smaller and so their price per square foot can end up higher.
Newberg, Average Days on the Market Remain High
As of November 2024, homes in Newberg are taking an average of 120 days to sell, with a median of 88 days on the market. This is a slight increase compared to previous months, which is typical in the fall and winter seasons.
Portland is also seeing an increase overall, and though the increase is much sharper, it sits at 99 vs. Newberg’s 120 (a median of 67 vs 88). Extended time on the market in Newberg is due to higher inventory and less buyers this year than in most previous years (blame the interest rates, which also also poised to keep dropping, which will lead to a much stronger 2025).
Newberg, Oregon Average Days on the Market, Courtesy of Fidelity National Title
Newberg, Oregon Median Days on the Market, Courtesy of Fidelity National Title
The increased times in the market for Newberg and Portland indicate the typical seasonal adjustment seen when moving into fall and winter, when buyer traffic drops off. Still, the less extreme rise in Newberg indicates a slightly more desirable market than Portland’s.
Newberg, Oregon Homes for Sale
Browse all Newberg homes for sale using the interactive map on Portlandhomesforsale.com.
Newberg, Oregon 2025 Real Estate Forecast
We expect this suburb to boom in 2025, starting as early as March. We are expecting multiple rate drops before spring 2025 arrives and that will combine with spring’s typically low inventory to dramatically favor sellers. In the summer, inventory is likely to rise up to meet demand as there are many homeowners who have been waiting for interest rates to drop before selling their homes and purchasing another. As soon as the market shows some strength, we can expect inventory to blossom to meet it. Overall, we expect prices to rise in 2025 by 5%, after being stale in Newberg for the last two years. If you’re planning to sell in Newberg in 2025, try to aim for the spring season. If you’re looking to buy in Newberg, late 2024 is your best time, but if you miss that we’d recommend anytime in 2025 except for the height of the spring season (March – May).
Interested in Buying or Selling in Newberg?
Newberg’s signs of less volatility over the last two years bode well for 2025, making it an attractive choice for home buyers and investors, much due to the area’s appeal. Still, the market is poised for changes as interest rates lower. As always, we will closely monitor Portland’s market and provide comprehensive updates on the latest trends through our Portland monthly reports.
Whether you are looking to buy or sell, we would love to help you with your next real estate transaction. We’re here to help. Contact our top 1% seller’s agents who charge 1.7% to sell a home and provide more marketing and services. Likewise, if you’re interested in making Newberg your home, our top 1% buyer’s agents are here to show you around and help you find your perfect match.
