Is Klamath Falls, OR 97601 a buyer’s or seller’s market?

The Klamath Falls housing market right now

In the three months ending August 31, 2026, 15% of homes in Klamath Falls, OR 97601 sold above their list price, the typical home went under contract in 46 days and there were 5.7 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 98 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (13% then), homes sold more slowly (43 days then) and the median sale price rose 1% to $329,857. Overall, Klamath Falls is about as competitive as it was a year ago.

Within Klamath County, homes here sell faster than in 62% of the county’s ZIP codes, and sell more often over asking than in 62%. On our competition score, Klamath Falls ranks #144 of 170 OR ZIP codes with enough sales (score 28 out of 100).

Nearby, buyers who want less competition could look at Gilchrist 97737 (0% sold over asking) or Chemult 97731 (0% sold over asking), while Sprague River 97639 (100% sold over asking) and Merrill 97633 (50% sold over asking) are even more competitive.