Although June is typically an active month of the year for home sales, closings in June 2022 were 28% lower than June 2021 and 6.3% lower than May 2022. That month-over-month decrease is not surprising given the typical mid-summer slowdown in home purchasing habits.
After a long decline, inventory grew for the fifth consecutive month, making June the first month of 2022 to top inventory levels compared to one year ago. June ended with 24.5% more homes for sale than in May, but 8.8% fewer than June 2021. Months Supply of Inventory increased 29.5% in June. A year ago, Months Supply of Inventory was 1.0.
The Median Sales Price of $638,000 decreased 5.1% over May and and was 11% higher than the $575,000 recorded in June 2021. The average Close-to-List Price Ratio in June was 88%. Homes spent an average of 19 days on the market in June. They sold three days slower than in May, and two days slower than a year ago.
Deschutes County MARKET CONDITIONS
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