November sales were down in Bend, Redmond, and Sunriver as we head into the slower winter months and the overall market continues to soften.
Median prices were generally flat across the three communities with Redmond seeing a bit more of a tick downward. Days on Market were in a “pinball” pattern bouncing all over the place in the last three months, but we expect we’ll see a more consistent trajectory as we move through December and into the new year. Months Inventory were static in November with only Bend deviating from the previous months track with a lower inventory by half a month.
We still believe there is more uncertainty to play out in the real estate market, as the Federal Reserve continues to try to tame the inflation beast and the real risk of a deeper recession as we move through the first two quarters of 2023. That said, there are always opportunities to take advantage of regardless of the situation.
If you have questions about how you should proceed during this time, reach out to us. We’re happy to share our thoughts and experience to help you make informed decisions.
– 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!
November 2022 – STATISTICS
* Data summarized from – The Beacon Report