Sales were up a healthy amount across all three markets in the month of May. Better weather, higher inventory levels, and more price reductions all contributed to an increase in sales.
Median Price was elevated as more sales occurred in the upper end of the market than the lower and middle of the market. Days on Market were a mixed bag with Bend slipping, while Redmond and Sunriver increased slightly. Months Inventory rose in Bend and Redmond and was flat in Sunriver.
It will be interesting to see how the market numbers look as we move into July. Our hunch is the overall market will soften a bit more as inventory continues to increase. That said, certain price points may have more or less inventory than the overall market.
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!
May 2023 – STATISTICS
Data summarized from the Beacon Report
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