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CENTRAL OREGON MARKET REPORT - DECEMBER 7, 2023

What Is A Manufactured Home and Should You Consider Buying One?

There a many questions and misconceptions about this property class, that fills an affordable niche in our market place. First time buyers and budget shoppers always tend to have these homes on their radar, but don't fully understand exactly what they are. Hopefully this article can educate and shed some light on how a manufactured home purchase might stack up to a stick built.

 
 

Monthly statistics are out and overall the market has stayed pretty consistent month over month. In November, the single family median sale price in Bend was $730k and the volume of sales declined from 121 in October to 114 sales last month. The median days-on-market has increase ot 31 days, which is not uncommon due to the seasonal cycle. The Redmond market has had a stable price trend over the past four months- around the $500k median sale price with a gradual decline. If you're interested in viewing charts and more data trends, scroll down to the "Market Snapshot" section below.  -Greg

 

State of the Market

Homes that are priced and marketed well are receiving a better % of their sales price. The longer they sit on market, the more they drop in price overtime and also end up giving more in concessions (seller credits to buyer).

 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 30% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!

 

Market Snapshot


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