The average price of a home in Norway was NOK 4,389,536 at the end of July.

So far in 2026, home prices have risen by 2.8 percent.

– Home prices fell by a whopping 2.6 percent in July, which resulted in a sharp decline in seasonally adjusted home prices of 1.1 percent. There was a nominal decline in home prices in all areas in July, and seasonally adjusted, only Fredrikstad/Sarpsborg, Ålesund and Tromsø experienced growth. There is normally weak house price development in July, but this is weaker than we expected, says CEO Henning Lauridsen of Eiendom Norge.

– The weak development means that several areas in Eastern Norway are now experiencing negative price development. In Oslo, for example, home prices have fallen by 0.8 percent so far in 2026. With a normal economic cycle, this means that home price development in Oslo will probably end up down several percent this year. If the interest rate is raised again as Norges Bank has indicated, the development could be even weaker, he says.

Great activity in 2026

In July, 5,016 homes were sold in Norway, which is 11.3 percent fewer than in July 2025.

So far this year, 62,696 homes have been sold in Norway, which is 4.7 percent fewer than at the same time last year.

In July, 3,677 homes were put up for sale in Norway, which is 2.3 percent more than in July 2025.

So far this year, 68,406 homes have been put up for sale in Norway, which is 1.6 percent fewer than at the same time last year.

– Activity in the second-hand housing market is still very high, even though there are fewer sales than at the same time in 2025. Historically, only in 2025 have more second-hand homes been sold and put up for sale than in 2026, says Lauridsen.

It took an average of 62 days to sell a home in July, up from 40 days in June.

Bergen had the shortest sales time with 17 days. Bodø w/Fauske had the longest sales time with 109 days.

Tromsø on top

– Tromsø had the strongest seasonally adjusted price development in July with a seasonally adjusted increase of 0.5 percent, says Lauridsen.

Tønsberg w/Færder had the weakest seasonally adjusted price development in July with a seasonally adjusted decrease of 2.6 percent.

– The largest growth so far in 2026 has been in Ålesund and the surrounding area and Tromsø with an increase of 10.9 and 9.7 percent.

– The weakest development this year has been in Tønsberg and Færder with a decrease of 1.6 percent, says Lauridsen.

The differences will persist
- We expect that the large differences in housing price developments around the country will continue through the autumn, while the sales volume will remain high. There is a great need for housing in Norway. This is evidenced, among other things, by the strong growth in rental prices.

- However, there are imbalances in the housing market now between a well-functioning second-hand housing market, a new housing market with a broken back and a severely pressured rental market. We need a better balance between the different markets, and Norges Bank must also take this into account when setting interest rates. In the long term, high interest rates will create even greater imbalances, concludes Lauridsen.