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THIS MONTH'S ANALYSIS

What’s Happening in the Central Oregon Housing Market?

“October's real estate stats highlight some interesting dynamics in our market. With the median sales price climbing by 9% month-over-month to $775,000, we're seeing strong demand even as inventory builds. However, buyers are gaining more negotiating power, as homes are closing at about 94.5% of list price on average. Additionally, the increase in Days on Market to 68 tells us that buyers are taking a bit more time to evaluate their options. It's a unique moment, blending opportunity with caution, and we’re here to guide our clients every step of the way in this evolving landscape.”

-Ryan Buccola, Broker/Owner RE/MAX Key Properties

REAL ESTATE MARKET UPDATES FOR CENTRAL OREGON

Deschutes County

Notable metrics include:

The Median Sales Price of $660,000 increased 10% month-over-month. 

The number of new listings decreased 8.2% from September.

The 4.89 months’ supply of inventory in October decreased 7.5% from September and was up 34% from one year ago.

The average Close-to-List Price Ratio in October was 94.4%, meaning that homes sold for 5.6% less than the asking price. 

Days on Market increased 8.3% from September and increased year-over-year by 23 days, from 48 to 71.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $775,000 increased 9% month-over-month.

The number of new listings increased .4% from September.

The 4.6 months’ supply of inventory in October decreased 7% from September and was up 41% from one year ago.

The average Close-to-List Price Ratio in October was 94.5%, meaning that homes sold for 5.5% less than the asking price.

Days on Market increased 13% from September and increased year-over-year by 22 days, from 46 to 68.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $732,500 increased 6.8% month-over-month.

The number of new listings decreased 39% from September.

The 4.9 months’ supply of inventory in October decreased 15% from September and was up 24% from one year ago.

The average Close-to-List Price Ratio in October was 94%, meaning that homes sold for 6% less than the asking price.

Days on Market decreased 18% from September and increased year-over-year by 4 days, from 58 to 62.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $499,995 increased .01% month-over-month.

The number of new listings increased 17% from September.

The 4.49 months’ supply of inventory in October decreased 10% from September and was up 14% from one year ago.

The average Close-to-List Price Ratio in October was 95.6%, meaning that homes sold for 4.4% less than the asking price.

Days on Market increased 27.6% from September and increased year-over-year by 21 days, from 55 to 76.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $385,000 decreased 8.8% month-over-month.

The number of new listings decreased 17.9% from September.

The 7.92 months’ supply of inventory in October decreased 5.6% from September and was up 49% from one year ago.

The average Close-to-List Price Ratio in October was 92.5%, meaning that homes sold for 7.5% less than the asking price.

Days on Market increased 19% from September and increased year-over-year by 34 days, from 54 to 88.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The number of new listings decreased 31% from September.

The 5.27 months’ supply of inventory in October decreased 1.8% from September and was up 20% from one year ago.

The average Close-to-List Price Ratio in October was 95.9%, meaning that homes sold for 4.1% less than the asking price.

Days on Market increased 38.4% from September and increased year-over-year by 5 days, from 68 to 73.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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