By Hans Tonjes, March 31, 2026
In the world of Pacific Northwest real estate, many towns offer a view, but few offer a future as stable as
Manzanita, Oregon. As we move through 2026, the local market continues to demonstrate why it remains one of the most resilient lifestyle investments on the North Coast. While other regions experience volatility, Manzanita’s property values remain anchored by a simple, unchangeable truth: extreme scarcity.
The Pillars of Market Stability
As of early 2026, the median list price in Manzanita sits at approximately $1,074,950, reflecting a market that has plateaued into a healthy, sustainable “Seller’s Zone”. Unlike the rapid, often frantic appreciation of previous years, the current environment is defined by:
- Steady Equity: Prices have held firm despite broader economic shifts, with year-over-year list prices showing modest growth from $963,500 in 2025.
- Predictable Taxes: Thanks to Oregon’s unique tax measures (Measure 5 and 50), annual property tax increases are strictly limited, providing a level of long-term carrying cost certainty that is rare in other coastal states.
- Lifestyle-Driven Demand: Manzanita isn’t just a zip code; it’s a “quiet, dark-sky community” that prioritizes local ecology and walkability over big-box expansion.
The “Build-Out” Reality: Why Inventory is Limited
The most critical factor for any Manzanita investor or homebuyer to understand is the town’s geographic and regulatory “finish line.”
- Fixed Boundaries: Nestled between the base of Neahkahnie Mountain, the Pacific Ocean, and Nehalem Bay State Park, there is literally nowhere left for the town to expand.
- Strict Zoning: Recent 2025 and 2026 code amendments focus on “middle housing” and “workforce housing” rather than large-scale luxury developments, ensuring the town’s quaint, village-like character remains intact.
- The Scarcity of Land: Vacant land has become a premium asset. Buyers are increasingly purchasing lots priced between $175,000 and $600,000 to build custom retreats, knowing that move-in-ready inventory remains low.
Finding Your Place in the Village
Opportunities in Manzanita are diverse but fleeting. Currently, the market is seeing activity in three primary tiers:
- Luxury Coastal Estates: Properties on the bluff or with direct beach access frequently command prices well over $1.5 million.
- Mid-Range Retreats: Homes in the $700,000 to $1 million range remain the most competitive, often serving as a balance between personal vacation use and long-term investment.
- Custom Build Opportunities: For those with a vision, the remaining vacant parcels offer a way to secure a footprint in a town that is effectively “sold out” of new land.
Your Next Move
Manzanita offers a “summer donut hole” of sunshine and a peaceful vibe that contrasts sharply with more tourist-heavy neighbors. In a market where inventory is measured in single digits or low teens, waiting for a “better time” often means missing out on the right property entirely. I’m here to help! Hans Tonjes 503-936-4244 hans@livingroomre.com
Hans Tonjes
Broker | OR
He/Him
Hans Tonjes is an Oregon native, raised in Northwest Portland.
For over 25 years Hans and his family have called Manzanita their home. He has a varied real estate background ranging from small timberland management to mixed use development, including condominiums, commercial retail and vacation lodging. For the last 20 years, Hans has been working diligently with others to build a year round economy in Manzanita, his favorite Oregon coastal town. Hans served on the board of directors of the Rinehart Clinic for nine years, a local non-profit. He has also spent over four years working on the Manzanita Planning Commission and was elected to the Manzanita City Council in November of 2012, re-elected in 2016 & 2020. Hans has a solid understanding of the challenges and opportunities present in relocating to the coast and decisions involved in investing in vacation property and maintaining a second home.
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