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Central Oregon Market Report - October 12, 2022


New Luxury Listing in Tumalo! 19460 Dayton Road - Bend $1,475,000 This estate is truly one of a kind with custom woodwork and finishes throughout. Cascade mountain views from every window that also overlooks beautiful pastures. Gourmet kitchen with top of the line appliances, pantry, tons of built-ins and access to the paver patio. Beautiful living room with wood beams and large stone wood burning fireplace. Two master suites, one up with a loft office and large on suite. Bring your horses, llamas, goats and family to this magical property that is set up for a number of different options. The front half of the property is available to grow your own hay. Multiple fenced turn outs each having it's own shelters and heated auto waters. The original barn provides plenty of storage as well as two additional stalls. Triple car garage, shop and third bedroom can easily be added onto the home. Property has a recorded view easement that will protect your view!




 

Statistics for the month of September were just made available and it looks like prices have stayed strong, but are definitely leveling off. There was a slight up tick in Bend to a median price point of $725,000. As I mentioned in a previous email, prices will most likely continue shifting up and down over the next few months as we resettle and adjust to interest rates. With Winter on the way, this will be the last push for many sellers. Luckily the weather has been beautiful in town and houses are still showing very well. Another thing that I have noticed in recent weeks is the influx of luxury listing inventory. Looking at September numbers, the total number of active listings in the west Bend region was 183 properties at prices up to $1 million. At the same time, there were 143 properties for sale between $1-2 million! Now that's an expensive region and lesser priced homes tend to sell at a faster pace, but I do see a trend emerging. Sellers are rolling out of higher price points and owners of "average" priced homes are beginning to covet their homes a bit more as the market shifts. Stay tuned to learn how the next few weeks progress! - Greg


 

Mortgage Rates Update



Market Trends via Oregon Datashare A blend of several markets in Oregon to show trends across the state. Notice - the last 6 months have seen an increase in days on market and a flattening of Avg sold price.



 

Two Questions Every Homebuyer Should Ask Themselves Right Now Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. Full Article


It’s Not Too Late to Join the Short-Term Rental Investing Game Short-term rental investing, otherwise known as Airbnb or VRBO hosting, has been one of the hottest strategies for real estate investors over the last several years—and with good reason. It has a lot to offer. Full Article

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