We hope you’re enjoying the holidays so far! As noted last month, things tend to slow down as we make our way through the end of the year and into the new one. Activity will generally pick up as we head deeper into January. More importantly, if interest rates continue to come down below 7%, we believe buyers will re-enter the market in a meaningful way, as their desire or need to make a move can finally be realized at a more reasonable cost.
If that scenario plays out, as we think it will, the net result over time will be less inventory, multiple offers (again), and higher prices. So, if you’re considering buying in the next several months, doing it sooner than later will likely save you money.
As we move through the end of the year, we expect overall inventory to shrink, as homes come off-market for the winter. That said, many of those homes are still for sale (just not actively listed), so reach out to us if you would like to know what’s available in that category. For buyers, winter is still a very good time to purchase as there is less competition and winter sellers are often more motivated.
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!
November 2023 – STATISTICS
Data summarized by the Beacon Report.