Happy February! Hopefully you’ve been taking advantage of the unusually warm weather and getting out for some fun activities.
While we’ve enjoyed the hiatus from Old Man Winter, we really need him to visit again and leave behind a nice deep snow pack. Keep doing your snow dance!
January sales dipped again in Bend and Redmond, while Sunriver was essentially flat. Some of that has to do with seasonal slow downs, but most is due to lack of inventory. Last months inventory supply dropped to just 7.5 days (6 months is a normal real estate market). I expect the projected uptick in interest rates will help slow the market enough that we can actually build inventory as we move through Spring and Summer (good for the overall market). Median prices were up a smidge in Bend, down a bit in Sunriver, and Redmond hit the $500K mark for the first time in memory.
Reach out to us if you’d like to know more about our awesome Central Oregon community and the strategies we use to help buyers and sellers achieve their real estate aspirations.
– Ken and Molly
Click HERE for detailed Real Estate Watch statistics. ** You’ll notice in the detailed report that we’ve altered the graph and data structure. We did this to better visually represent the shifts in the market from month-to-month.
Data summarized from – The Beacon Report