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Central Oregon Market Report - July 12, 2022


Pick of the week! 64732 Hunnell Road - Bend Hobby farm property with all of the bells and whistles. Only 15 minutes to downtown Bend. 4 acres with 2.5 acres of irrigation rights. New 3 car garage.


 

Year over year statistics show that sales volume for the month of June have decreased ~20% while inventory has filled in substantially. What this means is that more sellers are ready to move but buyer demand has slowed down dramatically. Expect longer days on market and prices continuing to decrease as we ease into this resettling period. The June Beacon report for the month of June shows another 20k decrease in median sales price for Bend. Interest rates aside, buyers have regained so much leverage in the last couple weeks and now have much more inventory to browse. It's time to get creative with seller credits and interest rate buy downs, to keep the monthly payment affordable and secure a great house at a discount. Let me know your thoughts! -Greg

Mortgage Rate Updates





A Key Opportunity for Homebuyers Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. Full Article


To help salmon, dams may need to be removed More than a dozen runs of salmon and steelhead are at risk of extinction in the Columbia and Snake rivers. Removing dams may be needed to restore salmon runs to sustainable levels in the Pacific Northwest Full Article

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