Matt Johnson

Cell: 541.480.2153

Office: 541.728.0033

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431 NW Franklin Ave. Bend, OR 97703

Specialties: Residential Real Estate

This Month's Analysis

What’s happening in our market?

“Inventory is up in the Bend and Central Oregon markets, and the extraordinary rate of rising prices of the last 36 months seems to be mellowing a bit,” said Ryan Buccola, Broker/Owner RE/MAX Key Properties. “While this is not the dramatic change that the headlines would lead you to believe, we are experiencing a cooling down of what has been a sizzling seller’s market.

“Still, homes that are priced appropriately and in tip-top shape are selling at asking or above and enjoying multiple offers and fewer days on market. At the same time, buyers are recognizing they have more leverage as the frenzied sellers market softens and we are seeing more contingent offers and buyers somewhat emboldened to negotiate.”

REAL ESTATE MARKET UPDATES FOR CENTRAL OREGON

Deschutes County

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 June 2022

Deschutes County MARKET CONDITIONS

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Bend, OR

Although June is typically an active month of the year for home sales, closings in June 2022 were 24% lower than June 2021 and 7.8% 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 27% more homes for sale as in May, and 61.5% more than June 2021. Months Supply of Inventory increased 29.9% in June. A year ago, Months Supply of Inventory was 1.0.

The Median Sales Price of $740,000 decreased 1.2% over May and was 12.6% higher than the $657,500 recorded in June 2021. The average Close-to-List Price Ratio in June was 91.4%. Homes spent an average of 17 days on the market in June. They sold three days slower than in May, and one day slower than a year ago.

Bend June 2022

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Although June is typically an active month of the year for home sales, closings in June 2022 were 47% lower than June 2021 and 29% 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 60% more homes for sale as in May, and 10% more than June 2021. Months Supply of Inventory increased 74% in June. A year ago, Months Supply of Inventory was 1.0.

The Median Sales Price of $642,500 decreased 19.7% over May and was .24% higher than the $640,974 recorded in June 2021. The average Close-to-List Price Ratio in June was 80.8%. Homes spent an average of 8 days on the market in June. They sold seventeen days faster than in May, and fifteen days faster than a year ago.

Sisters June 2022

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Although June is typically an active month of the year for home sales, closings in June 2022 were 41.5% lower than June 2021 and 20.7% 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 17.8% more homes for sale as in May, and 41.7% more than June 2021. Months Supply of Inventory increased 24% in June. A year ago, Months Supply of Inventory was 1.0.

The Median Sales Price of $532,500 increased 4.4%% over May and was 16.4% higher than the $457,486 recorded in June 2021. The average Close-to-List Price Ratio in June was 90%. Homes spent an average of 18 days on the market in June. They sold one day slower than in May, and five days slower than a year ago.

Redmond June 2022

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Although June is typically an active month of the year for home sales, closings in June 2022 were 2% lower than June 2021 but 53% higher 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 10.4% more homes for sale as in May, and 85% more than June 2021. Months Supply of Inventory increased 19% in June. A year ago, Months Supply of Inventory was 1.0.

The Median Sales Price of $430,000 increased 5% over May and was 14.6% higher than the $375,000 recorded in June 2021. The average Close-to-List Price Ratio in June was 90%. Homes spent an average of 29 days on the market in June. They sold 18 days faster than in May, and eight days slower than a year ago.

La Pine June 2022

La Pine, Oregon, MARKET CONDITIONS

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