Halfway through the peak summer buying season, this year’s home sales are falling short of 2021’s, as signs of more balance in the market take hold.
- July posted the fewest home sales of any month since February 2022, falling 31.8% short of July 2021.
- Inventory grew for a fifth consecutive month by a whopping 25.1% over June and 58.1% year over year.
- While up 11.3% year over year, the Median Sales Price of $642,500 inched just 2.2% above June’s.
The number of new listings declined for the first time in six months with a decrease of 17.6% month over month, which was a decrease of 23.4% over July 2021. Months Supply of Inventory jumped from 1.87 in June to 2.34 in July. A year ago, Months Supply of Inventory was 1.48.
Deschutes County MARKET CONDITIONS
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