As we move into the heart of the selling season, the real estate markets in Corvallis, Albany and Lebanon reflect strong buyer activity, rising inventory, and price adjustments that create opportunities for both buyers and sellers. Here’s a breakdown of how each market performed in May 2025.
Corvallis: Stable Prices, Strong Offers
Corvallis remained stable with a median sales price of $599,900 over the last year, unchanged from April and up 6% from May 2024. The city recorded 49 closed sales in May and saw homes moving in just 48 median days. Sellers in Corvallis continue to benefit from solid demand, with an average of 101.0% of the list price received.
Inventory in Corvallis remains tight, with 68 new listings entering the market in May, which means there was only 2.0 months of supply. So far this year, the city has logged 183 closed sales and a year-to-date median price of $575,000. Homes are still selling at or above asking, with an average 100.1% list-to-sale ratio. Although the median price for the year was down for the first six months, that could be due to more small homes selling in the first five months, while larger homes sell in the summer months after school lets out.
Albany: Price Peak with Fast-Moving Sales
Albany saw a notable jump in its median sales price, landing at $493,950 over the last year—a 9.8% increase from May 2024. Homes are moving steadily, with a median of 64 days on market, while sellers received 98.9% of their asking price.
The market also welcomed 110 new listings in May, while the months of inventory remained constant at 2.3—a signal of a still-competitive market where buyers have a steady influx of new choices. Year-to-date, Albany’s median sales price stands at $453,500, with 279 closed sales and a strong 99.5% list-to-sale ratio, supported by 407 new listings so far this year.
Lebanon: Inventory Surges, Affordability Holds
Lebanon offered affordability and growing options over May. The median sales price was $368,000, down slightly from last year, which allowed for a solid entry point for buyers. Homes are moving a bit more slowly than last year but faster than April with a median of 53 days on market, and sellers are receiving 99.6% of asking price.
Lebanon saw a surge in listings, with 75 new homes coming to market in May, pushing months of inventory to 4.0—the highest among the three cities. This shift gives buyers more breathing room. Year-to-date, Lebanon’s median price stands at $380,000, with 125 closed sales and a 99.9% list-to-sale ratio.
In Summary
May’s numbers show a market that’s warming up with the weather. Prices are holding or rising, sellers are still in a strong position, and inventory is trending up—especially in Lebanon and Albany. For buyers, that means more options and a little more leverage. For sellers, it’s still a great time to list, but pricing and presentation matter more than they otherwise might.
As always, navigating the nuances of a shifting market takes insight and strategy—whether you’re stepping in as a buyer or preparing to sell. This spring, it appears there are opportunities for those who are ready.
Samantha Alley has 30 years of real estate experience and is a Principal Broker in the State of Oregon; she is a Team Leader and Office Advocate at REMAX/Integrity in Corvallis. She can be reached at sam@hometeamoregon.com
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