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Central Oregon Market Report - December 28, 2022



Sisters Woodlands You may have noticed a new project breaking ground in downtown Sisters, near the Ranger Station and a few other U.S. Forest Service buildings. It's close to the roundabout on Highway 20 that connects the two separate parts of downtown Sisters. This large triangular lot of land is now being reinvented to offer multiple housing options and active commercial spaces. Check out the link below for a look at the Elder Cottage, a residential option with a 2 floor layout, offered in their first phase of development. If you have anymore questions on the project, call me direct!



 

As the year comes to an end and we review what has happened over the last 12 months in the market, it might be leaving a few of you perplexed and unsure on where you stand with your real estate goals. Prices, interest rates and economic factors have changed quickly in the aftermath of COVID and it's become increasingly important to stay up to speed. Every market is different and every person's situation offers unique challenges or opportunities. It's my goal to continue to provide you with trustworthy, up-to-date information, relevant to our local market in Central Oregon. I want to make sure that you have the insight and support you need to make smart real estate decisions that provide the very best for you and your family. Stay tuned and look forward to next week's report, where I will analyze our end of the year numbers and predict where we might be headed in 2023. Happy New Years everyone! - Greg


 

Mortgage Rates Update Based off a 5% down payment, 770 credit score and low debt-to-income



 

Airbnb Is Partnering With Apartment Complexes—Here’s What That Means Airbnb launched a new program that gives tenants of partnered apartment complexes the ability to sublease on Airbnb.  Full Article


What’s Really Happening with Home Prices? It’s possible you’ve seen news stories mentioning a drop in home values or home price depreciation, but headlines aren’t always great at painting the full picture. Full Article


 

Market Snapshot

The graph below is a great depiction of the drastic changes we've seen in the market over the past year - biggest of which is inventory. Active inventory increased quickly in the Summer months while new listings dropped off quite a bit. Sold listings has stayed fairly consistent throughout the year. All three categories have began to dip and I assume they will continue to do so through the seasonal swing. The real question is how much these lines will will move in unison over the coming months to set a new norm for our market!



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