top of page

CENTRAL OREGON MARKET REPORT - NOVEMBER 8, 2023

Rural ADU Approval in Deschutes County

 The Deschutes County Board of Commissioners finally passed new rules to allow rural ADUs in certain unincorporated areas

 
 

The numbers are out from last month and we have a new glimpse into where our market trends are headed (See full reports in the "Market Snapshot" below for your specific city). Inventory this October has increased month over month at a much higher rate than previous years, but at the same time homes sold are are declining as we head into Winter. So basically, we have more inventory and home sales are not increasing to keep speed. Prices for active inventory in Deschutes County are holding steady or slightly declining in some areas, which may contrast with national headlines. If you're getting mixed sources of information on your real estate news; keep in mind that this information is only accurate on a hyper local level (for example, City, Neighborhood ect..).

 

Last October is when mortgage rates really impacted us locally and medium price in Bend dropped -6% month over month and Redmond dropped -8%. That was a drastic hiccup in the market and not a fun time to have your home listed. In contrast, we've been around 8% rates pretty much all October of 2023 and Bend & RDM are both up ~7% year over year.

 

If you're thinking of selling your home before the end of this year, make sure you price it right and market it well to make it happen. There are 600 active listings in Bend right now and November numbers are on track to close 130 homes. List to sales prices in first month are around 99% and drop to 95% in the second month. If you want to make an easy move and net the most amount possible, trust in a professional to guide you through the process and give me a call! -Greg

 

What's new with Mortgage Rates?

They went down slightly!

 

Deschutes County Planning Commission to host a public hearing on proposed amendments to County Code that would allow property owners in rural residential zones to rent out an RV on their property, or to rent out space on their property


 

Market Snapshot


Comments


bottom of page