Here is an idea of where the housing market is at!
This week the median list price for Bend, OR 97701 is $649,000 with the market action index hovering around 41. This is an increase over last month's market action index of 38. Inventory has decreased to 75. Average Days on Market 88 and 45% of Sellers Decreased Sales price
This week the median list price for Bend, OR 97702 is $680,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has decreased to 91. Average Days on Market 97 and 42% of Sellers Decreased Sales price
This week the median list price for Bend, OR 97703 is $1,242,500 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has decreased to 82 Average Days on Market 116 and 35% of Sellers Decreased Sales price
This week the median list price for Bend, OR 97707 is $835,000 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has decreased to 23. Average Days on Market 123 and 35% of Sellers Decreased Sales price
This week the median list price for La Pine, OR 97739 is $462,500 with the market action index hovering around 30. This is less than last month's market action index of 31. Inventory has decreased to 66. Average Days on Market 154 and 61% of Sellers Decreased Sales price
This week the median list price for Prineville, OR 97754 is $499,000 with the market action index hovering around 31. This is a buyer's market! This is less than last month's market action index of 32. Inventory has decreased to 80. Average Days on Market 135 and 46% of Sellers Decreased Sales price
This week the median list price for Powell Butte, OR 97753 is $1,437,450 with the market action index hovering around 25. This is less than last month's market action index of 27. Inventory has increased to 26. Average Days on Market 178 and 46% of Sellers Decreased Sales price
This week the median list price for Redmond, OR 97756 is $564,990 with the market action index hovering around 36. This is less than last month's market action index of 39. Inventory has decreased to 126. Average Days on Market 99 and 39% of Sellers Decreased Sales price
This week the median list price for Sisters, OR 97759 is $799,900 with the market action index hovering around 33. This is an increase over last month's market action index of 32. Inventory has decreased to 45. Average Days on Market 108 and 31% of Sellers Decreased Sales price
This week the median list price for Madras, OR 97741 is $399,900 with the market action index hovering around 24. This is less than last month's market action index of 26. Inventory has decreased to 50. Average Days on Market 135 and 50% of Sellers Decreased Sales price
Roughly 40-50% of Sellers are reducing their sales price. This is the first time in years that we are seeing the Central Oregon housing market slow down enough to go into a Buyer's market. This is an opportunity for buyers and we recommend you get into the market!
We can recommend a lender that we've enjoyed working with and they will help you get pre-approved to purchase a home. Don't be afraid to be a buyer right now. There are creative lenders who can get you into a home and you'll start building equity. Some people think the housing market is going to crash, but economists are saying otherwise. Our current market is similar to our market before 2020 and 2021. Interest rates are about 5.5% right now and home prices continue to drop.
You can always call, text or email us and we are happy to help you start the home buying or selling process! https://www.powellteam.com/team