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July Real Estate Market

How is the Market this week? Everyone expected it to tank… not in the least.. busier than ever. For house hunters wondering whether the Coronavirus crisis might lead to a better deal on an upcoming purchase, there’s some bad news: probably not, at least not what we are seeing.

· We have found many of my buyers looking for rural land and the demand outweighs supply, we haven’t seen pricing going way up, but Seller’s aren’t budging much because they know they don’t have to.

· When the Coronavirus first hit the fast action from the federal government and Federal Reserve helped to stabilize the housing market, They brought interest rates down and kept offering a variety of loan programs and jumbo loan that went away in the beginning came back quickly

· To be sure, most housing markets are very much a local issue — what’s happening in New York is not the same as what’s happening here. 


Bend, SE & NE markets a median list price of _512k____ and the market action index at _49_, up from last weeks __48__. Inventory is at __92__ homes.

• Bend SW market median list price is $625K with a market action index at __46____, up from last weeks __45__ and Inventory is about __155_ listed homes.

Bend NW market median list price is $872K with a market action index at __39____, up from last weeks _38_ and Inventory is about __134_ listed homes.

Madras the median list price is _306k____with the market action index of _41__ same as last weeks __41_ Inventory has held steady around _46_ listed homes.

· The median list price for La Pine is __399k____ with the market action index hovering around __45__ up from last weeks _43__. inventory has held steady at _46_ listed homes.

· This week the median list price for Prineville ___388k_ with the market action index at__42__this up last weeks __41__. there are __77___ homes on the market. (down 13 homes from last week)

· This week the median list price for Powell Butte ___995K_ with the market action index at__30__up from last weeks __29__. there are __29___ homes on the market

· Redmond, the median list price is _459k___same as last weeks and the market action index at _40_ up from last weeks ___38__. Inventory around _185_ listed homes.

© 2020 Powell Team a division of Fred Real Estate Group

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