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CENTRAL OREGON MARKET REPORT - NOVEMBER 22, 2022

Give Thanks This Holiday Season

 
 

Happy Thanksgiving to you and yours! I'm so grateful for the opportunity to serve such a great community of people. I hope that you have a wonderful holiday with your family and friends :)

 

As for your weekly real estate update... A brief drop in interest rates has provided some relief to our increasingly unaffordable market. During our transition into the holiday season, we will start seeing less inventory than what is currently available. Sellers usually withdraw from the market for weather and convenience. For those holding strong or looking to Sell in the colder months, you'll want to price very carefully to attract attention from picky Buyers. Pricing your property over market value right now is a sure way to loose your footing and lose money overtime. Without interest or offers in hand, you will be less leveraged to find the terms your looking for. The market has definitely cooled off and sales volume for our area is down, but homes are till selling everyday. The question is whether or not you are positioned to make it happen. Attached below is a snap shot of the current market in Bend, with Active Listings (Green dots) and Pending listings (Orange dots) to give a visual of what that balance looks like. Thanks for tuning in and have a fun weekend! - Greg

 

Mortgage Rates Update

 

Snapshot of Bend Active/Pending Inventory from MLS

There is much more inventory compared to previous years and although the market has shifted, well positioned homes are continuing to sell.

 

People Are Still Moving, Even with Today’s Affordability Challenges

Buying a home has become more expensive over the past couple of years, but people are still moving.


Mt. Bachelor to make decision by Wednesday on Black Friday opening

Time to wax the skis and gear up for some Winter activity!


 

Market Snapshot


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