June sales numbers were still lower in all three Central Oregon markets compared to 2019, but the percentage reduction was substantially smaller than last month.
Median prices ticked up slightly as more buyers came back into the market in June and simultaneously drove down the amount of available inventory.
All three markets now have less than two months of housing supply – an incredibly low number that will continue to push prices upwards until more homes come up for sale.
I believe this low volume housing trend will continue for the foreseeable future, as city dwellers reevaluate their quality of life and seek smaller communities with more elbow room and less exposure to some of the recent chaos.
For those looking to sell, now is a terrific time to capitalize on the strength of the market and maximize your net proceeds from a sale. If you’re curious about the value of your home, reach out to me, I’d be happy to provide a Market Analysis.
For those looking to buy, you’ll have to move quickly when you see something you like, be prepared with lender pre-approvals, and expect that you’ll be competing with other buyers when you submit an offer. We have strategies to help you win competitive offer situations, so don’t hesitate to reach out when you’re ready to buy.
Summer is here, get out and play!
– Ken
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