Cory Bettesworth

Cell: 541.420.1211

Office: 541.728.0033

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42 NW Greenwood Ave.
Bend, OR 97703

 

THIS MONTH'S ANALYSIS

What’s Happening in the Central Oregon Housing Market?

“It’s been a busy spring selling season and as we look ahead to summer, May's market performance reflects an evolving real estate landscape. The median sales price in Bend rising to $755,000—a notable 6.8% increase month-over-month—and new listings surging by 19.7% from April demonstrate growing seller confidence and robust market activity. The expanded 3.6 months' supply of inventory, up 21.2% from April and 26.8% year-over-year, signals a healthier balance, offering more choices for buyers.

While we are not up to normal inventory levels yet, these positive trends indicate progress. And despite the impact of interest rates on buyers, there is still solid equity and a significant number of cash buyers in the marketplace. The overall trends point to a resilient and dynamic market poised for continued growth and opportunity.”

-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 $682,500 increased slightly, .4% month-over-month. 

The number of new listings decreased 11.2% from May.

The 4.8 months’ supply of inventory in June increased 15.9% from May and was up 34.6% from one year ago.

The average Close-to-List Price Ratio in June was 98.7%, meaning that homes sold for 1.3% less than the asking price. 

Days on Market decreased 18.4% from May and increased year-over-year by 7 days, from 38 to 45.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $799,000 increased 5.8% month-over-month.

The number of new listings decreased 14.9% from May.

The 4.3 months’ supply of inventory in June increased 19.1% from May and was up 33% from one year ago.

The average Close-to-List Price Ratio in June was 99%, meaning that homes sold for 1% less than the asking price.

Days on Market decreased 22.6% from May and increased year-over-year by 7 days, from 30 to 37.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $875,000 increased 6.1% month-over-month.

The number of new listings increased 24.4% from May.

The 6.1 months’ supply of inventory in June increased 18.4% from April and was up 24.3% from one year ago.

The average Close-to-List Price Ratio in May was 98.4%, meaning that homes sold for 1.6% less than the asking price.

Days on Market decreased 27% from April and increased year-over-year by 38 days, from 31 to 69.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $545,000 increased 3.9% month-over-month.

The number of new listings decreased 32.2% from April.

The 4.6 months’ supply of inventory in May increased 11.3% from April and was up 48% from one year ago.

The average Close-to-List Price Ratio in May was 99.5%, meaning that homes sold for 56% less than the asking price.

Days on Market decreased 11.6% from April and increased year-over-year by 22 days, from 34 to 56.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $427,500 decreased 1.7% month-over-month.

The number of new listings increased 12.5% from April.

The 6 months’ supply of inventory in May increased 25.4% from April and was up 22% from one year ago.

The average Close-to-List Price Ratio in May was 98%, meaning that homes sold for 2% less than the asking price.

Days on Market decreased 38% from April and decreased year-over-year by 9 days, from 76 to 67.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The Median Sales Price of $429,995 increased 3.4% month-over-month.

The number of new listings decreased 24.2% from April.

The 4 months’ supply of inventory in May increased 5% from April and was down 9.4% from one year ago.

The average Close-to-List Price Ratio in May was 99.6%, meaning that homes sold for .4% less than the asking price.

Days on Market decreased 5.9% from April and decreased year-over-year by 7 days, from 89 to 82.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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