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CENTRAL OREGON MARKET REPORT - JULY 10, 2024

Oregon Department of State Lands

puts 262-acre second phase of the

Stevens Road Tract in SE Bend on the market

The State of Oregon has worked closely with the city of Bend to ensure this parcel is developed into a complete community that includes affordable and workforce housing as part of walkable neighborhoods

 
 

Activity has picked up and continued through the holiday weekend and it seems that more buyers are out looking. That being said, they are still hesitant to step up and write offers. We have listings continuing to fill in and there is lots of inventory to look at. This is making it more common for Sellers to offer some flexibility in price and terms to get their house sold. Take a look at the "Listing Price" chart below and see how Active/New listing/Sold prices are interacting.

 

Active inventory that continues to list high and not do their research on the market, will most likely sit around and miss their shot at making a move this season. Those that price adjust and do their best to find buyer expectations, might be able to get an offer to work with and shot at making their sale happen. It's interesting to see our sales price dip in June, when we would expect the prices to surge with our seasonality. Maybe this is telling of our market direction?  - Greg

 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 20% down and great credit. These rates could be improved by using seller credits! Unsure what that means? Shoot me a message!

 

Market Snapshot


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