Cody Johnson

Cell: 541.788.7686

Office: 541.728.0033

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42 NW Greenwood Ave.
Bend, OR 97703

Specialties: Residential & Commercial Properties

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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