Median prices continue to post impressive moves upward year-over-year, with Sunriver leading the way at 30% growth. Sunriver also posted the largest increase in sales volume, while Bend and Redmond were down slightly due to lack of available inventory. Even though we are in “listing season” I don’t expect to see much inventory build over the coming months as demand continues to outstrip supply.
For sellers, now is the time to sell if you want to capitalize on the competitive environment and premium prices. I’m seeing most homes selling for 3-15% above listing prices that are already stretching beyond recent comps.
For buyers, the market continues to be a challenge. You have to be very intentional in your search and quick to move on anything that fits what you’re looking for. Be prepared to compete with several offers, have your pre-approvals or proof-of-funds in hand, and limit your contingencies.
Reach out to me if you’d like to know more about our strategies to help both buyers and sellers navigate this hot market.
Click HERE for detailed Real Estate Watch statistics.
Data summarized from – The Beacon Report