Inventory Rising
This morning there are 268 single-family homes for sale in Deschutes County as our inventory slowly starts to accumulate. The median list price has increased to 899k, and the days on the market have risen to 20. Mortgage interest rates dropped very slightly last week, keeping the pedal to the metal in the housing markets. At the median list price, homes are selling incredibly fast, while many higher-priced homes take a bit longer to go under contract. The added due diligence required for more elaborate properties takes time, but rest assured, the most desirable houses in Central Oregon have several buyers circling the wagons!  

Last week 124 homes sold in Deschutes County with a median sale price of just over 600k, and only four days on the market! Buyer demand remains high, with homes last week selling for 102.53% of the asking price. Last week's sales volume in Deschutes County roughly follows population density with 73 sales in Bend, 35 in Redmond, and single-digit sales in La Pine, Sisters, and Sunriver. While homes are getting snapped up in short order, new inventory hits the market daily. Many sellers have waited for the pandemic to subside before listing, and with the recent CDC guidance, expect more homes to choose from in the coming weeks. 
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Stellar Realty NW
Reed Melton
(541) 408-6625
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