Redmond sales showed the largest increase from last year to this year at 15%. Bend actually decreased, mostly due to lack of inventory, and Sunriver had a modest bump. Median prices were up in all three markets with Sunriver bolting upward by 38%. Days on market are almost laughable (unless you’re a buyer) with homes going into contract on average in 4 days or less. Lack of inventory continues to drive the market and it will be interesting to see if we get any notable inventory build as we work through the spring months. The increase in mortgage interest rates may help slow demand and provide a little breathing room for buyers.
Be well, enjoy spring, and smile more!
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Data summarized from – The Beacon Report