Molly Maphet

Cell: 541.647.0595

Office: 541.728.0033

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431 NW Franklin Ave. Bend, OR 97703

Specialties: Residential, First-time Home Buyer, Vacation Home

This Month's Analysis

What’s happening in our market?

“The higher-interest rate environment we’ve been experiencing has posed some challenges. But we are now seeing that buyers, sellars and brokers have done a very good job recalibrating their expectations. Buyers especially are becoming more comfortable in the new rate environment. As they recognize opportunities like future refinancing and seller incentives, we are seeing buyers reenter the market.

“In January, pendings were up in Bend 63% after four months of steady decline. This is a positive sign. With home prices and mortgage rates appearing to stabilize, buyers and sellers have plenty of reasons to be optimistic in 2023. The key to success for consumers will be to choose real estate professionals with the skills, experience and adaptability they need to make the moves that this market requires.”

-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 $569,995 has dropped 15.6% since peaking at $675,000 in May.

The number of new listings increased 43.6% from December and was down 36% from January 2022.

The 1.8 months’ supply of inventory in January was down from 2.1 in December and up from .7 one year ago.

The average Close-to-List Price Ratio in December was 97.4%, meaning that homes sold for 3% less than the asking price.

Days on Market grew year-over-year by 30 days, from 40 to 70.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $689,950 has dropped 12.1% since peaking at $785,000 in February.

The number of new listings increased 71.4% from December and was down 29% from January 2021.

The 1.6 months’ supply of inventory in January was down from 1.9 in December and up from .7 one year ago.

The average Close-to-List Price Ratio in November was 98%, meaning that homes sold for 2% less than the asking price.

Days on Market grew year-over-year by 29 days, from 41 to 70.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $562,500 has dropped 30.3% since peaking at $806,904 in May.

The number of new listings increased 40% from December and was down 17.6% from January 2022.

The 2.3 months’ supply of inventory in January was down from 2.6 in December and up from .6 one year ago. 

The average Close-to-List Price Ratio in November was 97%, meaning that homes sold for 3% less than the asking price. 

Days on Market grew year-over-year by 33 days, from 22 to 55.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $427,475 has dropped 21% since peaking at $541,990 in August.

The number of new listings increased 20.5% from December and was down 44% from January 2022.

The 1.9 months’ supply of inventory in January was down from 2.3 in December and up from .7 one year ago. 

The average Close-to-List Price Ratio in November was 98%, meaning that homes sold for 2% less than the asking price. 

Days on Market grew year-over-year by 36 days, from 27 to 63.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $375,000 has dropped 16.7% since peaking at $449,967 in October.

The number of new listings dropped 5.9% from January and was down 53% from January 2022.

The 3 months’ supply of inventory in January was down slightly from 3.6 in January and up from 1.5 one year ago. 

The average Close-to-List Price Ratio in December was 95%, meaning that homes sold for 5% less than the asking price. 

Days on Market dropped year-over-year by 30 days, from 80 to 50.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The Median Sales Price of $449,000 has dropped 5% since peaking at $472,500 in May.

The number of new listings increased 43% from December and was down 12% from January 2022.

The 3.4 months’ supply of inventory in January was the same as December and up from 1.6 one year ago.

The average Close-to-List Price Ratio in December was 98%, meaning that homes sold for 2% less than the asking price. 

Days on Market grew year-over-year by 18 days, from 53 to 71.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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