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Central Oregon Market Report - November 30, 2022


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With almost a full % drop in interest rates over the week, Buyers in the market are acting fast to lock in a property and affordable payment before they bounce back up. I've noticed an uptick of listings withdrawing from the market as some Sellers have decided to hold off until Spring. Less inventory mixed with this drop in interest rates has created a good window for motivated Sellers to be more competitive on the market and have a better shot at getting their home under contract. Looking at the market trends as a whole, average time on market has continued to increase and the perception of a stale listing has gone from 7 days (in the boom days) to 40+ days.. The market is continuing to re-balance and change quickly, so there is a lag time in feeling out what should be "normal". Keep in mind that a true, healthy Buyer/Seller market can see average days on market upwards of 180 days! It's hard for anyone in Bend to recall this, considering our booming market ;) As always, if you're looking for advice on where you stand in today's market, give me a call! - Greg

 

What Homeowners Want To Know About Selling in Today’s Market While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Full Article


How To Take Cash Out Of A 1031 Exchange Are you interested in deferring your taxes when you transition between investment properties but don’t want to roll all of your cash proceeds forward into your replacement property? Full Article

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