Is Chemult, OR 97731 a buyer’s or seller’s market?
Chemult is a buyer’s market. With about 8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Chemult housing market right now
In the three months ending August 31, 2026, 0% of homes in Chemult, OR 97731 sold above their list price, the typical home went under contract in 99 days and there were 8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (2 days then) and the median sale price rose 41% to $529,271. Overall, Chemult is less competitive than a year ago, which gives buyers more room.
Within Klamath County, homes here sell more slowly than in 69% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Sprague River 97639 (100% sold over asking) and Merrill 97633 (50% sold over asking) are even more competitive.
Run the numbers for 97731
Nearby markets
Beatty 97621Seller’s market $172 /sq ftBly 97622Buyer’s market $81 /sq ftBonanza 97623Buyer’s market $110 /sq ftChiloquin 97624Buyer’s market $248 /sq ft Browse all markets →Where Chemult is
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Questions about Chemult real estate
Is Chemult a buyer’s or seller’s market?
A buyer’s market: there were 8 months of supply in Chemult, OR 97731 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 Chemult?
The typical home went under contract in 99 days in the latest three months.
Do homes in Chemult sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.2% of the list price.
What are property taxes in Chemult?
About 0.62% of a home’s value a year in Klamath County, or roughly $2,480 on a $400,000 home.
What is the median home price in Chemult?
The median sale price was $529,271 in the three months ending August 31, 2026, about $462 per square foot.
Local agents
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More tools for 97731
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology