October Sales volume continued to decline in Bend and Sunriver, while Redmond had a strong month, increasing sales by 62%, likely due to Redmond’s affordability compared to Bend and Sunriver.
Median Prices were down across the board showing the continued trend of sellers having to reduce listing prices to attract buyers. Days On Market were up in all three markets with Sunriver jumping to a whopping 45 days – we haven’t seen that in quite awhile. Months Inventory was generally flat with Bend and Redmond at two months and Sunriver at one.
Even with the election behind us (mostly), I still believe there will be continued softness in the real estate market as we move into the new year. That said, there will also be opportunities as prices continue to decline and interest rates moderate.
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. Thanks!
October 2022 – STATISTICS
* Data summarized from – The Beacon Report