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CENTRAL OREGON MARKET REPORT - MARCH 13, 2024

New Market Insights!

Price changes in each city per month and year 📈

Providing you with the most up to date and in depth insights to our market allows you to become the local expert. One thing to note in this above chart, is that a dramatic swing in the Sisters and LaPine markets may be due to the low amount of sales in those areas. For example, Sisters only had 10 sales last month and they were well above the average price point. Larger markets like Bend/Redmond will have more data to draw from and more "accurate" data to analyze.

 
 

National Home Price Appreciation Chart

I felt that this graph gave a good snapshot of what national home prices have done over time and gives perspective as to where we are at with today's prices. Notice the "Long-Term Trend" line, showing the average 4% appreciation overtime and how the market has followed along. In recent years, appreciation has accelerated and we now see it starting to normalize and cool off. Last month statistics showed the Bend average price point dipping below the 700k mark for the first time in a while, now down to 682k.

 

As a Buyer or Seller, it's important to pay attention to past trends and see how you can best play the market moving forward. If you have any questions on this info or where we are headed next, give me a call or shoot me a message! - Greg

 

What's new with Mortgage Rates?

This is a scenaio for top tier borrowers with 20% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!

 

Weekly mortgage demand jumps again as interest rates fall just below 7%

Mortgage rates swung slightly lower last week, fueling a significant jump in mortgage demand for the second straight week.


 

Market Snapshot


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