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CENTRAL OREGON MARKET REPORT - MAY 1, 2024

PICK OF THE WEEK

2660 Cliff Hawk Court

Redmond, OR 🏡 - $2,450,000

Experience luxury at this Eagle Crest estate! With 1.38 acres and stunning Deschutes River views, this home boasts custom woodwork, a gourmet kitchen, and a grand Montana stone fireplace. The lower level features a guest suite, a family room with a wet bar, and a bonus room with a wine rack. Amenities include a hot tub, instant hot water, and a garage with epoxy floors. Don't miss this Eagle Crest gem!

 
 

Central Oregon showed a large hop in sales and new listings this past week. Although it would be great to have the rates drop and spark some more momentum for us this season, I feel that serious buyers have begun to accept the higher rate environment and are beginning to step back into the market again. There's also a growing pool of Buyers that have been sitting on the sideline over the past year or more, waiting for the right time to hop back in. I think that this pending demand for homes could inevitably keep our prices strong overtime. Of course shopping in this market can be tough right now, with high competition in certain price points or tough affordability in others, but as the inventory continues to fill in, it is nice to have options to choose from. It also gives Buyers a bit more negotiating power when making a deal. That is, until the rest of the buyers jump back in... Whatever your unique situation is, I'd be happy to advise you on what the market is doing and how you can best set yourself up for success. Let me know if you'd like to connect!

-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!

 

The Perks of Buying over Renting

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.



 

Market Snapshot


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