Norway House Prices Hold Steady

Norway’s housing market ended 2025 on a stable note, with house prices unchanged month on month in December following a 0.7% increase in November. The average home price stood at NOK 4,420,795 at the end of the year, confirming that price levels were largely maintained after a strong performance earlier in 2025.

A Calm Finish to the Year

The lack of monthly growth in December reflects a typical seasonal slowdown rather than a shift in market sentiment. On an annual basis, house prices rose by 5% in 2025, easing slightly from the 6.2% growth rate recorded in November but still pointing to a solid year overall.

Sales Activity Remains Firm

Transaction volumes remained resilient despite the year-end slowdown. A total of 3,809 homes were sold in December, up 1.4% compared with the same month in 2024. At the same time, new listings declined, with 3,436 homes coming onto the market, nearly 6% fewer than a year earlier.

This balance between demand and supply helped underpin price stability at the national level.

Longer Selling Times

The average time to sell a home increased to 71 days in December, up from 54 days in November, indicating more cautious buyer behaviour toward the end of the year. Regional contrasts remain pronounced, with Bergen and Stavanger recording the shortest selling periods, while properties in the Tønsberg area took significantly longer to find buyers.

Diverging Regional Price Trends

Monthly price movements varied sharply across regions. Tønsberg with Færder and the Follo area recorded the strongest gains, while Bodø with Fauske and Ålesund experienced the steepest declines. This divergence highlights the growing importance of local market conditions over national averages.

Annual Perspective

December’s flat outcome capped a year characterised by steady price growth and strong resale activity. The combination of stable prices, robust sales and longer selling times suggests that Norway’s housing market is moving toward a more balanced phase after a period of rapid adjustment.

As reported by International Investment experts, Norway’s stable house prices in December signal consolidation rather than weakness. For investors in 2026, regional dynamics and sensitivity to interest rate changes are likely to play a decisive role in market performance.