Is Klamath Falls, OR 97603 a buyer’s or seller’s market?

The Klamath Falls housing market right now

In the three months ending August 31, 2026, 24% of homes in Klamath Falls, OR 97603 sold above their list price, the typical home went under contract in 24 days and there were 4.1 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 92 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 18%, homes sold faster (31 days then) and the median sale price rose 2% to $334,855. Overall, Klamath Falls is more competitive than a year ago, so tougher for buyers.

Within Klamath County, homes here sell faster than in 69% of the county’s ZIP codes, and sell more often over asking than in 77%. On our competition score, Klamath Falls ranks #78 of 170 OR ZIP codes with enough sales (score 52 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.