If you're thinking about selling your house, here's something you really need to know. Even though it's still a seller's market today, you can't pick just any price for your listing.
While home prices are still appreciating in most areas, they're climbing at a slower pace because higher mortgage rates are putting a squeeze on
The Central Oregon real estate market trends for the major urban areas continue to reflect a seller's market, although residential inventory levels have risen in most locations. The desperate lack of inventory experienced during Covid has changed, and while home prices overall continue to rise, in some smaller markets price reductions can be noted. With more inventory, days on market have also generally gone up, but well priced homes are still selling quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories with home prices, listings, inventory levels and days on market all rising. Whether or not this trend continues in 2nd quarter with mortgage interest rates well about 7% remains to be seen.
After dropping 1st quarter 2023 from 1st quarter 2022, Redmond single family home prices rose 1st quarter 2024. The relative affordability of Redmond compared with other urban areas in Deschutes County (i.e. Bend, Sisters and Sunriver), has led to an influx of new purchasers and demand for those who cannot qualify to purchase homes elsewhere. That and a growing number of