Welcome to our latest edition of Real Estate Watch. Below we share our overview of the dynamic shifts and trends shaping the real estate landscape in our community.

 

Sales were higher in Bend and Redmond, while Sunriver was lower than the previous month. Median prices slid in Sunriver and Bend, with Redmond showing a slight increase. Days on Market were lower across the three markets with Sunriver shedding the most. Months Inventory stayed the same in each city – 1.5 months in Bend, 2 months in Redmond, and 3 months in Sunriver.

If you’re a cash buyer, interest rates won’t affect your purchase decision. For those that need a mortgage, reach out to us and we can recommend a number of lenders with creative programs to lessen the sting of higher rates.

As we noted last month, buyers should start shopping now, as inventory remains very low. If interest rates move lower, even a little bit, supply will tighten and prices will rise.

As always, if you have questions about the market or the process of buying or selling, get in touch with us and we’ll share our thoughts and expertise to help you make the right decisions.

– Ken and Molly

 

PS. We really appreciate your referrals! If you have friends or family interested in Central Oregon real estate, please pass along our contact info. Thank you!

 

March 2024 – STATISTICS

 

Data summarized from the Beacon Report