Is Nehalem, OR 97131 a buyer’s or seller’s market?
Nehalem is a balanced market. With about 5.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 17% of U.S. ZIP codes, and #151 of 170 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Nehalem housing market right now
In the three months ending August 31, 2026, 0% of homes in Nehalem, OR 97131 sold above their list price, the typical home went under contract in 26 days and there were 5.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 17 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 13%, homes sold faster (35 days then) and the median sale price fell 20% to $629,728. Overall, Nehalem is less competitive than a year ago, which gives buyers more room.
Within Tillamook County, homes here sell faster than in 80% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, Nehalem ranks #151 of 170 OR ZIP codes with enough sales (score 23 out of 100).
Nearby, Beaver 97108 (100% sold over asking) and Manzanita 97130 (37% sold over asking) are even more competitive.
Run the numbers for 97131
Nearby markets
Bay City 97107Seller’s market $306 /sq ftBeaver 97108Buyer’s market $248 /sq ftCloverdale 97112Buyer’s market $415 /sq ftGaribaldi 97118Buyer’s market $159 /sq ft Browse all markets →Towns like Nehalem nearby
Find towns like Nehalem in other states →Where Nehalem is
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Questions about Nehalem real estate
Is Nehalem a buyer’s or seller’s market?
A balanced market: there were 5.8 months of supply in Nehalem, OR 97131 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Nehalem?
The typical home went under contract in 26 days in the latest three months.
Do homes in Nehalem sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.8% of the list price.
What are property taxes in Nehalem?
About 0.60% of a home’s value a year in Tillamook County, or roughly $2,400 on a $400,000 home.
What is the median home price in Nehalem?
The median sale price was $629,728 in the three months ending August 31, 2026, about $356 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology