DeAnna Davis

Cell: 541.390.8631

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?

“November's real estate market is signaling a shift in momentum. While home prices are showing some softening — with Bend’s median price down 11% month-over-month — we’re also seeing reduced competition, giving buyers more leverage. Inventory remains healthy, but new listings have slowed, with Deschutes County down 28% from last month. Notably, homes are taking a bit longer to sell, as Days on Market increased in most areas. For sellers, smart pricing is essential, while buyers have an opportunity to negotiate. It's a season of strategy, and we're here to help our clients navigate every step of the journey.”

-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 $620,000 decreased 6% month-over-month. 

The number of new listings decreased 28% from October.

The 4.48 months’ supply of inventory in November decreased 9% from October and was up 30% from one year ago.

The average Close-to-List Price Ratio in November was 98.2%, meaning that homes sold for 1.8% less than the asking price. 

Days on Market increased 8% from October and increased year-over-year by 14 days, from 62 to 76.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $705,000 decreased 11% month-over-month.

The number of new listings decreased 31% from October.

The 4.3 months’ supply of inventory in November decreased 6% from October and was up 44% from one year ago.

The average Close-to-List Price Ratio in November was 94.6%, meaning that homes sold for 5.4% less than the asking price.

Days on Market increased 17% from October and increased year-over-year by 22 days, from 56 to 78.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $710,785 increased 2.9% month-over-month.

The number of new listings increased 7% from October.

The 3.8 months’ supply of inventory in November decreased 19% from October and was up 8% from one year ago.

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

Days on Market decreased 18% from October and increased year-over-year by 16 days, from 68 to 84.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $493,750 decreased 1.7% month-over-month.

The number of new listings decreased 38% from October.

The 3.82 months’ supply of inventory in November decreased 15% from October and was up 1% from one year ago.

The average Close-to-List Price Ratio in November was 97.1%, meaning that homes sold for 2.9% less than the asking price.

Days on Market decreased 18% from October and increased year-over-year by 1 day, from 61 to 62.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $479,450 increased 20% month-over-month.

The number of new listings decreased 11% from October.

The 7.07 months’ supply of inventory in November decreased 12% from October and was up 42% from one year ago.

The average Close-to-List Price Ratio in November was 93.3%, meaning that homes sold for 6.7% less than the asking price.

Days on Market increased 22% from October and decreased year-over-year by 10 days, from 117 to 107.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The Median Sales Price of $384,997 decreased 7% month-over-month.

The number of new listings decreased 5% from October.

The 5.09 months’ supply of inventory in November decreased 5.9% from October and was up 8% from one year ago.

The average Close-to-List Price Ratio in November was 94.8%, meaning that homes sold for 5.2% less than the asking price.

Days on Market increased 15% from October and increased year-over-year by 6 days, from 76 to 82.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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