In the County data provided below, I've included manufactured homes on land and single-family homes. Manufactured homes on land represent 17.2% of sales in Crook County, in Deschutes County, 5.9%, and 25.1% of sales in Jefferson County. In addition, the spreadsheets link to PDF documents for better viewing, while the median list price charts link to complete market trend reports for each County. Inventory of homes for sale increased slightly this week, (Crook, Deschutes, Jefferson) with moderate price decreases in some cases. Looking at the days on market numbers shows that while sought-after homes priced right are moving quickly, other homes are lingering. The more expensive listings take longer to sell in all cases, thereby skewing the days on the market upward. Especially in Crook County, where there are only 68 listings from 130k to $65M! Market Trend reports compile information by quartile for more accurate information in whichever price range you are researching.
This report would be remiss to ignore the ongoing inflation discussion and the impact it may be having on housing. So, if you are interested in a macro-global view from a hedge fund manager, check out this synopsis from Crescat Capital—the linked report details past inflationary cycles and the policies used to try and keep the economy in check. Currently, almost nobody expects the Fed to do anything other than staying the course, while the national average for a 30 year fixed rate mortgage dropped again to 2.78%. The Central Oregon housing market may have stabilized a bit, most likely due to many people going back to a standard work and vacation schedule. While demand remains strong, it will be interesting if the recent news of a return to mask mandates alters the market trajectory. There are no indications that any of these issues will deter well-qualified buyers from buying, nor should sellers be concerned in the short term.
