Molly Maphet

Cell: 541.647.0595

Office: 541.728.0033

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42 NW Greenwood Ave.
Bend, OR 97703

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

THIS MONTH'S ANALYSIS

What’s Happening in the Central Oregon Housing Market?

“Bend's significant jump in median sales price to $824,500 in April masks the market's true direction. Behind this headline figure we’re all seeing, is a meaningful shift: inventory up 55% year-over-year, homes sitting 21 days longer on market, and absorption rate climbing to 4.49 months. With buyers gaining leverage, price reductions are increasingly common as properties sold for 1.6% below asking. Pricing strategy has become more critical in this environment, making partnership with an experienced professional who understands these nuanced market dynamics essential for success.​​​​”

-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 $692,106 increased 5.0% month-over-month and increased 7.5% year-over-year.
  • The number of new listings increased 12.4% from March with 669 new properties coming to market.
  • The 4.57 months' supply of inventory in April increased 15.4% from March and was up 29.5% from one year ago.
  • The average Close-to-List Price Ratio in April was 98.7%, meaning that homes sold for 1.3% less than the asking price.
  • Days on Market increased 8.0% from March to 76 days and increased year-over-year by 22 days, from 54 to 76.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

  • The Median Sales Price of $824,500 increased 6.2% month-over-month and increased 16.8% year-over-year.
  • The number of new listings increased 18.5% from March with 391 new properties coming to market.
  • The 4.49 months' supply of inventory in April increased 13.7% from March and was up 48.7% from one year ago.
  • The average Close-to-List Price Ratio in April was 98.4%, meaning that homes sold for 1.6% less than the asking price.
  • Days on Market decreased 5.3% from March to 71 days but increased year-over-year by 21 days, from 50 to 71.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

  • The Median Sales Price of $804,188 increased 1.3% month-over-month and increased 12.5% year-over-year.
  • The number of new listings increased 69.6% from March with 39 new properties coming to market.
  • The 5.21 months' supply of inventory in April increased 24.3% from March and was up 25.8% from one year ago.
  • The average Close-to-List Price Ratio in April was 99.6%, meaning that homes sold for just 0.4% less than the asking price.
  • Days on Market increased 82.6% from March to 101 days and increased year-over-year by 19 days, from 82 to 101.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

  • The Median Sales Price of $548,395 increased 6.7% month-over-month and increased 4.6% year-over-year.
  • The number of new listings increased 4.0% from March with 131 new properties coming to market.
  • The 3.6 months' supply of inventory in April increased 16.5% from March and was down 16.5% from one year ago.
  • The average Close-to-List Price Ratio in April was 100%, meaning that homes sold for their asking price on average.
  • Days on Market decreased 6.6% from March to 74 days but increased year-over-year by 18 days, from 56 to 74.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

  • The Median Sales Price of $436,100 increased 11.1% month-over-month and increased 0.3% year-over-year.
  • The number of new listings decreased 1.6% from March with 60 new properties coming to market.
  • The 6.29 months' supply of inventory in April increased 18.2% from March and was up 30.0% from one year ago.
  • The average Close-to-List Price Ratio in April was 97.8%, meaning that homes sold for 2.2% less than the asking price.
  • Days on Market increased 19.6% from March to 122 days and increased year-over-year by 36 days, from 86 to 122.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

  • The Median Sales Price of $440,000 increased 13.5% month-over-month and increased 8.0% year-over-year.
  • The number of new listings increased 40.0% from March with 70 new properties coming to market.
  • The 5.2 months' supply of inventory in April increased 5.9% from March and was up 34.0% from one year ago.
  • The average Close-to-List Price Ratio in April was 98.8%, meaning that homes sold for 1.2% less than the asking price.
  • Days on Market decreased 10.8% from March to 69 days but increased year-over-year by 15 days, from 54 to 69.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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