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CENTRAL OREGON MARKET REPORT - AUGUST 23, 2023

 
 

The market is still shifting quickly, so let's chat about the most recent MLS Data from this month to see where we are at for this point in time. Focusing on the MLS, this data is more current and focused on the present than the Beacon Report. Plus, we won't just focus on the homes that got snagged up – we'll cover all the properties hanging out on the market as well to get a better idea of the market overall.

 

Let's break it down a bit:

  1. Numbers Game: This month, we noticed that there are 21 fewer closings compared to July. Now, that might sound like a lot, but in the grand scheme, it's just a little shuffle in the market. Things are still buzzing along.

  2. Patience is a Virtue: Median days on the market have ticked up a tad to 41 days. Although we are slowing, don't worry! There's still a good chunk of homes getting snapped up. So if you're selling, rest easy – your place still has a shot at finding a new owner at a reasonable price.

  3. Price Play: Around 167 listings adjusted their price after listing. This shows that sellers are needing to get realistic about the current market and find the true market value that a buyer is willing to pay. The good news? Those changes mostly hung around a 5% decrease mark, which is more than we've seen lately, but not not bad from what we've seen historically.

If you're curious what your best move is or how your property is positioned in the current market, please reach out for a no obligation consult. I would love to fill you in and set you on the right path to success! - Greg

 

Mortgage Rates Update

Snap shot of premium loan rates at this point in time

 

There's Only Half the Inventory of a Normal Housing Market Today

Let that put things into perspective! You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house.


Capital Gains Tax on Real Estate and Home Sales: How It Works, Who Pays

The money you make on the sale of your home might be taxable. Here's how it works and how to avoid a big tax bill.


 

Market Snapshot


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