Sales volumes were up substantially in Bend and Redmond in the month of April as home owners chose to cash-in on the hot market. Median prices continued their march upward in all three cities, with Sunriver jumping a whopping 58% over same time last year. Days on market and overall inventory are still ridiculously low and we will likely remain in this environment for the foreseeable future.
For sellers, now is the time to sell if you want to capitalize on the competitive environment and premium prices. I’m seeing most homes selling for 3-15% above listing prices that are already stretching beyond recent comps.
For buyers, the market continues to be a challenge. You have to be very intentional in your search and quick to move on anything that fits what you’re looking for. Be prepared to compete with several offers, have your pre-approvals or proof-of-funds in hand, and limit your contingencies.
Reach out to me if you’d like to know more about our strategies to help both buyers and sellers navigate this hot market.