Redmond and Sunriver sold slightly more homes in July than the previous month, while Bend dipped for the 2nd month in a row.
Median Prices were the opposite – up in Bend and down in both Sunriver and Redmond.
Days on Market jumped in Bend and Redmond and Sunriver was flat. Months Inventory grew in Bend and Redmond, but was unchanged in Sunriver.
As summer winds down, now is a good time to evaluate your real estate wants/needs as we head into fall. Fall typically brings a high level of activity, as both buyers and sellers work to finalize their buy or sell before winter hits.
I still believe there will be market uncertainty as we move through the fall months. The Federal Reserve will determine if we continue our trend of slower sales and lower prices or if we find a level of stability. As I mentioned last month, 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!
July 2022 – STATISTICS
* Data summarized from – The Beacon Report