Is Silver Lake, OR 97638 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Silver Lake is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply3.2Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list84.4%Sold price ÷ list price

Median days on market129Listing to accepted offer

Median price per sq ft$228

The Silver Lake housing market right now

In the three months ending August 31, 2026, 0% of homes in Silver Lake, OR 97638 sold above their list price, the typical home went under contract in 129 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.

About the area

Lake County, OR

Population	373
Median income	$52,303
Average income	$64,940
Owner-occupied	75% of homes
Median year built	1984

Natural hazard riskWinter storms (very high), wildfire (relatively high), earthquakes (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 97638; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 97638

Prefilled for 97638Can I win this house?Multiple-offer likelihood for a listing Prefilled for 97638Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Christmas Valley 97641Buyer’s market $115 /sq ft Fort Rock 97735 — /sq ft Lakeview 97630Buyer’s market $96 /sq ft Paisley 97636 — /sq ft Browse all markets →

Where Silver Lake is

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Questions about Silver Lake real estate

Is Silver Lake a buyer’s or seller’s market?

A seller’s market: there were 3.2 months of supply in Silver Lake, OR 97638 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 Silver Lake?

The typical home went under contract in 129 days in the latest three months.

Do homes in Silver Lake sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 84.4% of the list price.

What are property taxes in Silver Lake?

About 0.71% of a home’s value a year in Lake County, or roughly $2,840 on a $400,000 home.

What is the median home price in Silver Lake?

The median sale price was $189,918 in the three months ending August 31, 2026, about $228 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