House prices jumped 2.1 percent in August. The average home now costs 5.04 million kroner
Eiendom Norge reports a startlingly strong month after the weakest July on record. Oslo is the exception, with 0.3 percent growth so far this year.
OSLO: House prices rose by 2.1 percent in August, and by 0.8 percent after adjusting for seasonal variations, according to Eiendom Norge's housing price statistics. The average price of a home in Norway was 5,039,618 kroner at the end of the month.
There was a startlingly strong growth in house prices in August, especially in light of the fact that July was the weakest July month in the history of house price statistics.Henning Lauridsen, chief executive of Eiendom Norge
So far in 2026, house prices in Norway have risen by 4.9 percent. In August, only Fredrikstad/Sarpsborg and Drammen saw negative seasonally adjusted development; every other city posted nominal and seasonally adjusted growth.
The national picture hides a split. Oslo, the country's largest market, has the weakest price growth so far this year at 0.3 percent. The Ålesund area and Tromsø lead year-to-date growth at 12.4 and 11.7 percent, reflecting local labour-market strength in energy and shipping rather than national exuberance.
Activity remains high even as prices climb. In August, 9,594 homes were sold, and 13,077 were listed for sale. It took an average of 50 days to sell a home, down from 62 days in July. So far this year, 72,290 homes have been sold, 4.7 percent fewer than in the same period last year.
The August surge lands days before Norges Bank's September rate decision, and the two numbers now argue with each other. Rising house prices pull toward tighter policy; the 4.50 percent rate the bank then set will test how much of August's strength was momentum and how much was leverage.
None to date. The Tribune corrects errors promptly and transparently. Read our corrections policy.
