Sale volumes were down in all three markets, which is typical in the month of December. Everything slows as the weather turns and people are focused on the holidays.
That said, the winter months can be an excellent time to buy or sell as there is less competition. Median Prices in Sunriver jumped dramatically, but with just two sales, the data is skewed. Bend and Redmond saw modest decreases in Median Price. Days on Market were up in Redmond and Bend, while Sunriver saw a further drop from last month. Months Inventory stayed steady across the three markets in December.
The 2023 real estate outlook is still muddy as we move into the first quarter of the year. The recent economic reports have been a mixed bag and we expect that uncertainty to continue. Regardless of the market forces, there are always opportunities to be had.
If you have questions about how you should proceed during this time, reach out to us. We’re happy to share our thoughts and experience to help you make informed decisions.
– 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!
December 2022 – STATISTICS
* Data summarized from – The Beacon Report