Bend saw slightly more sales than the previous month, while the number of Redmond and Sunriver homes sold dropped considerably.
Median Prices fell for Bend and Sunriver, with Redmond showing a nominal increase. Days on Market continued the trend higher in August as homes sat longer than the previous month. Months Inventory was a similar mixed bag with Bend declining a smidge, Redmond increasing a fraction, and Sunriver flat.
There is still a lot of uncertainty on where our real estate market will land. We like to call this period of time “a return to normal”. What happened over the past two years was “abnormal”, though “crazy” might be a better descriptor. Regardless, the softening market is good for the overall health of our industry and the sanity of both buyers and sellers.
Free Advice: No one can predict the exact bottom, so don’t try. When you’re ready to start the search, start the search. When you find a home you love, buy it. If you need to move, move. Time is a far more valuable resource than a few bucks one way or the other.
Reach out to us 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. Thanks!
* Data summarized from – The Beacon Report