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Central Oregon Market Report - June 22, 2022


Coming Soon! 17160 Mayfield Drive - Bend/3 Rivers South I've been waiting a long time to bring this beautiful home to market for it's first time ever! Goes live this Friday, but reach out to me direct for more info or to set up an appointment before it is offered to the public. This one wont last long! Craftsman touches throughout. Tongue and groove, vaulted ceilings supported by a live edge beam. Southern, Yellow Pine floors were imported from Georgia. Open and inviting living in the family room with plenty of natural light and ambiance. Spacious bedrooms, laundry/mud room, and bonus loft for extra living space. Almost an acre of large pine trees and plenty of usable space. A thoughtfully landscaped and full fenced courtyard provides peace and privacy, plus a fun area for dogs to roam. Oversized shop is plumbed for bathroom and heated by large wood-stove; A great space for projects and storage, separate from the house. Tankless water heater, hot tub plug in, RV hook up and much more! This is a must see property and great fit for the rural lifestyle!

 

Inventory is filling in as the weather warms up and there should be more home shoppers visiting town in the coming weeks for the kick off of Summer! Things are moving quickly in our market and opportunities are abound. Active listings on the market have basically doubled over the last 2 months. Wow! This means many more options for Buyers as well as leverage. Price reductions are more prevalent, with 58 homes reducing their asking price last week in Bend alone. Average days on market has increased and is moving back towards what we'd see in a normalized market. Several Buyer clients I've spoken with are cautious to jump in while rates are "high", but just compare those rates to the historical average and know that these rates will continue to rise, locking you into a higher living cost down the road. There are several strategies for buying down your rate and negotiating credits with Sellers that can make your purchase much more doable. Myself and my lender partners can coach you through it. I do see things cooling off, but all signs point to continued growth and increasing value over time in Central Oregon. It's a pretty great place to be ;) -Greg


Mortgage Rate Updates (as of yesterday)




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