Sales volume in April was down across the three markets. This is likely a result of the rising interest rates, as buyers reevaluate the higher cost of home ownership.
Median Prices were eye-popping in Sunriver at $1,065,000, while Redmond was modestly higher, and Bend was flat. Days on Market inched up in Redmond and Sunriver with Bend still stubbornly low at just 4 days. Months Inventory hit one month in Bend (which we haven’t seen since October of last year), while Redmond increased as well, and Sunriver stayed stagnant at a paltry 0.13 of a month.
The market is definitely shifting. We’re seeing listings take longer to sell, an increase in price reductions, and fewer multiple offer situations. I expect this trend to continue in the near term, as the various market forces ebb and flow seeking the new equilibrium.
Feel free to give us a call if you have questions about the market, especially if you’re considering a change to your real estate holdings.
– 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. We’d be thrilled to return the favor!
April 2022 Statistics
Data summarized from – The Beacon Report