February Sales Volume was up in Bend and roughly flat in Redmond and Sunriver. Median Prices dropped in Sunriver for the 3rd month in a row, while Bend was slightly lower and Redmond increased a bit.
Days On Market rose in Bend and Redmond, and Sunriver slid lower by 21 days. Months Inventory was static in Sunriver and Bend, with Redmond showing just a smidge of a decrease from the previous month.
As noted in last month’s email, we’re waiting to see if inventory builds as we move through March and April (prime listing season). If we get a significant number of new listings, it’s likely we’ll see a softening in prices, and if we don’t, prices will generally remain at their current levels.
If you have questions about the market, reach out to us and we’ll share our thoughts and expertise to help you make the right decisions on buying or selling.
– 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!
Data summarized from the Beacon Report