Karen Malanga

Cell: 541.390.3326

Office: 541.728.0033

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42 NW Greenwood Ave.
Bend, OR 97703

Specialties: Residential, Commercial,Small Farm and Ranch

This Month's Analysis

What’s happening in our market?

“The first two months of this year have shown promising signs for both buyers and sellers. Sales in our brokerage have increased significantly compared to this time last year. The number of closings were up 110% January 2024 vs January 2023 and up 83% February 2024 vs February 2023. Sales volume in January was up 68% and in February, 147%, compared to the same months last year. This notable surge marks a pivotal shift, as we haven't witnessed such robust sales volume since August 2022. 

Potential buyers and sellers considering a move this year should prepare by securing a qualified real estate broker who can help them understand this shifting market and offer a smart strategy for what’s looking like a competitive spring season.”

-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 $663,950 decreased 1.2% month-over-month. 

The number of new listings increased 17.2% from January.

The 2.6 months’ supply of inventory in February decreased 6.1% from January and was up 27.9% from one year ago.

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

Days on Market decreased 8.2% from January and decreased year-over-year by 8 days, from 75 to 67.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $685,000 decreased 1.8% month-over-month.

The number of new listings increased 20.2% from January.

The 2.2 months’ supply of inventory in February decreased 6.4% from January and was up 25.3% from one year ago.

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

Days on Market increased 6.1% from January and increased year-over-year by 19 days, from 53 to 72.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $764,750 increased 12.6% month-over-month.

The number of new listings decreased 9.5% from January.

The 2.8 months’ supply of inventory in February was unchanged from January and was up 31.8% 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 55.4% from January and increased year-over-year by 70 days, from 110 to 40.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $504,400 decreased 1.4% month-over-month.

The number of new listings increased 1.4% from January.

The 3.3 months’ supply of inventory in February decreased 5.5% from January and was up 46% from one year ago.

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

Days on Market decreased 24% from January and decreased year-over-year by 11 days, from 75 to 64.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $410,500 increased 6% month-over-month.

The number of new listings increased 55.6% from January.

The 3.7 months’ supply of inventory in February decreased 4.9% from January and was up 2.8% from one year ago.

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

Days on Market decreased 31.5% from January and decreased year-over-year by 2 days, from 123 to 121.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The Median Sales Price of $397,000 decreased 5.9% month-over-month.

The number of new listings decreased 6.1% from January.

The 3.4 months’ supply of inventory in February decreased 3.1% from January and was down 3.7% from one year ago.

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

Days on Market increased 11.3% from January and decreased year-over-year by 27 days, from 96 to 123.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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