Monthly sales increased in all three markets as we made our way through the month of March. A good sign that buyers are returning to the market after the fall/winter slow down (with interest rates still high, it was an unknown how the first quarter might play out).
Median Prices rose in Bend and Sunriver, while Redmond was flat. As activity picked up through the first few months of this year, Days on Market fell across the three cities. Months Inventory rose in Redmond, while Bend and Sunriver stayed the same…just one month of inventory.
We’ll keep our fingers crossed that more homes hit the market in April and May. If not, it’s going to continue to be a sellers market for the foreseeable future.
If you have questions about the market, reach out to us and we’ll share our thoughts and expertise to help you make the right decisions on buying or selling.
– Ken and Molly
PS. We really appreciate your referrals! If you have friends, family, or people-you just-met-in-line-at-the-grocery-store interested in Central Oregon real estate, please pass along our contact info. Thank you!
March 2023 – STATISTICS
Data summarized from the Beacon Report