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Central Oregon Market Report - May 18, 2022


19693 Aspen Meadow Drive Main Level living! Perfect family home in desirable Aspen Rim. Just a block from the park and pool and generous well maintained grass yard make this home perfect for adults and kids alike. All main bedrooms are downstairs and an additional in-law / guest suite upstairs.The Deschutes River Canal Trail is just a few minutes away as well as restaurants and a local well stocked grocery store.

 

In the Market Snapshot below you can see what recent changes have happened in your market. Bend seems to have leveled off, while Redmond has continued to soar! After reviewing the MLS stats over this last week, it's very evident that there has been a shift in our local market. Bend is noticing several price drops and longer days on market in reaction to the rising interest rates. Many Sellers are in shock from the sudden change and to me it feels like our market has reverted back to "normal" almost overnight; 30+ days in market, balance of power between Buyer and Seller. For those looking to make a purchase, this is a good opportunity to break into the market. Obviously, interest rates have been a blow to buying power, but prices are leveling off, inventory is filling in and Buyers are getting back some negotiating power. If you're set on finding that new home and having a shot at staying in Bend, take advantage of this window and move fast before rates jump higher! Give me a ring if you'd like to discuss. -Greg

 


Why Rising Mortgage Rates Push Buyers off the Fence If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Full Article


Redmond, Sunriver voters approve measures to fund new, larger public safety facilities Not one, but two Central Oregon Police Departments are getting new headquarters. The city of Redmond has won voter approval of its proposed new Public Safety Facility, as has the resort community of Sunriver. Full Article

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