Fundamentals and Housing
Have Central Oregon housing prices become unhinged from reality? Insatiable buyer demand and record-low inventory indicate home prices are justified. Nationally, there are ~355k homes for sale, which is less than half the inventory year to date. Locally, our numbers are even lower, with only 199 single family homes for sale in Deschutes County. Here is the city-by-city breakdown:
More expensive homes take longer to find a buyer, and in some cases, that has increased the median days on the market. In other cases, like Sisters this week, there have been so few homes sold, the weekly numbers only represent one home. Multiple offers are common across all price points. 
Market Action Index climbs with demand or tight supply, and currently, in Central Oregon, we are experiencing both. The result is a seller's market that has no precedent. The myriad of compelling reasons people are relocating to Central Oregon shows no sign of abetting. Whatever your goals, I am available to help you navigate our crazy market!
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Stellar Realty NW
Reed Melton
(541) 408-6625
Allow me to put my knowledge and
expertise to work for you!