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Featured local agent — Merrill, OR
Sarah Mitchell
Compass Real Estate · Merrill, OR
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Merrill, OR Housing Market
The typical home in Merrill, OR is worth $241,141, held roughly flat 0.2% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $380,000 (through May 2026). With 4.0 months of supply and homes going under contract in about 27 days, Merrill is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $241,141 home is about $1,287/mo in principal and interest.
Key numbers for Merrill, OR
Typical home value
$241,141
+0.2% in 12 months
Zillow, August 2026
Median sale price
$380,000
Last published period
Redfin, through February 2026
Days on market
27
Average pace
Redfin, through February 2026
Active listings
4
4.0 months of supply
Redfin, through February 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$50,469
Home costs 4.8x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.0%
Selling below asking
Redfin, through February 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Merrill a buyer's or seller's market?
Merrill, OR is a leaning buyer's, based on 4.0 months of supply and homes selling in about 27 days. 4 to 5 months of supply is the neutral band: neither side holds a structural advantage, and outcomes turn on the individual property.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Merrill housing market data show?
Every row below is Redfin's final published month for Merrill, OR. Redfin, through February 2026
| Metric | Value |
|---|---|
| Median sale price | $380,000 |
| Median price per sq ft | $172/sq ft |
| Median days on market | 27 days |
| Active inventory | 4 listings |
| Months of supply | 4.0 months |
| Sale-to-list price ratio | 95.0% |
| Homes sold (that month) | 1 |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Merrill is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Merrill is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Merrill home prices moved?
Across the 26 months we hold for Merrill, OR, the median sale price rose 49.9%, from $253,450 in June 2021 to $380,000. The live Zillow value series has held roughly flat 0.2% in the last 12 months, which is the more current read now that Redfin's series has stopped. For prices to fall meaningfully from here, supply would have to keep building past 4.0 months while the sale-to-list ratio slips below its current 95.0%. Watch those two together — they move before the median does.
Redfin, through February 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Merrill?
Priced off the typical home value of $241,141 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $48,228 | $192,913 | $1,287/mo |
| 5% | $12,057 | $229,084 | $1,529/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,287, that implies roughly $55,172 a year before you add taxes and insurance. The median household in Merrill earns $50,469, about $4,703 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 4.8x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Merrill in the next 12 months?
Tell us your timeline. We send the Merrill market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Merrill?
Zillow does not publish a rent index (ZORI) for Merrill, OR, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Merrill?
Active listings in Merrill, OR went from 1 in May 2023 to 4 in February 2026, a +300.0% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| September 2023 | 2 | 1 |
| February 2024 | 2 | not published |
| April 2024 | 1 | not published |
| May 2024 | 1 | 1 |
| March 2025 | 5 | 2 |
| May 2025 | 6 | 3 |
| June 2025 | 4 | 2 |
| July 2025 | 3 | not published |
| August 2025 | 6 | 3 |
| October 2025 | 4 | not published |
| December 2025 | 4 | 1 |
| February 2026 | 4 | not published |
Redfin, through February 2026
How does Merrill compare to Oregon and the U.S.?
Merrill homes sell for $380,000 — 28% below the Oregon median of $525,500. Against the national median of $410,700, Merrill runs 7% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Merrill, OR | $380,000 | not published | 27 days |
| Oregon statewide | $525,500 | -0.0% | 28 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through February 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Merrill
What buyers should watch
- Months of supply, currently 4.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $241 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $241,141 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Merrill listing goes under contract in 27 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 95.0% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved +0.2% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Merrill varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Merrill
There are currently 4 homes listed for sale in Merrill, Oregon.
Active listings
4
Homes on market
Avg. days on market
27
Days until sale
How much do homes cost in Merrill by property type?
How the Merrill, OR market breaks down across single-family homes, condos and townhouses. Redfin, through February 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $380,000 | $172/sq ft | 1 | 27 days |
Who lives in Merrill?
American Community Survey estimates for Merrill. U.S. Census ACS, 2023
Population
985
Households
329
Median income
$50,469/yr
Median age
30.2 years
Owner-occupied
56.5%
Median home value
$172,900
Median gross rent
$789/mo
Mean commute
20.6 min
56.5% of occupied homes in Merrill are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $172,900 against Zillow's $241,141 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve Merrill?
2 schools tracked · 426 students
The largest public schools serving Merrill, OR by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Lost River High School
Grades 7-12 · 240 students
Merrill Elementary School
Grades K-6 · 186 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Merrill, OR?
Ordered by distance from Merrill, not by size. Compare Merrill side by side with any of them.
Merrill housing market FAQ
Is Merrill a buyer's or seller's market?
Merrill, OR is currently a leaning buyer's. That read comes from 4.0 months of supply, homes going under contract in about 27 days, and sellers getting 95.0% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Merrill?
The typical home in Merrill, OR is worth $241,141 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $380,000, about $172 per square foot.
Is Merrill cheaper than the rest of Oregon?
Merrill's median sale price of $380,000 is 28% lower than the Oregon statewide median of $525,500, and 7% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Merrill?
Homes in Merrill, OR spent a median of 27 days on market before going under contract, versus 28 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Merrill?
At the current 30-year fixed rate of 7.03%, 20% down on a $241,141 home is about $1,287 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $55,172 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $50,469.
Are home prices rising in Merrill?
The typical home value in Merrill, OR held roughly flat 0.2% over the last 12 months, from $240,578 to $241,141 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Merrill?
Merrill ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Merrill?
That depends on your timeline, not on a headline. What the data says today: Merrill, OR is a leaning buyer's with 4.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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