Is Philomath, OR 97370 a buyer’s or seller’s market?

The Philomath housing market right now

In the three months ending August 31, 2026, 13% of homes in Philomath, OR 97370 sold above their list price, the typical home went under contract in 54 days and there were 4 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 25 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 31%, homes sold faster (80 days then) and the median sale price fell 9% to $472,296. Overall, Philomath is less competitive than a year ago, which gives buyers more room.

Within Benton County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in 75%. On our competition score, Philomath ranks #133 of 170 OR ZIP codes with enough sales (score 33 out of 100).

Nearby, buyers who want less competition could look at Alsea 97324 (0% sold over asking), while Corvallis 97330 (28% sold over asking) and Corvallis 97333 (20% sold over asking) are even more competitive.