Central Oregon Market Conditions
This morning, there are 279 active listings in Bend, 80 pending, and 86 closed since September 16, 2020. During the same period of 2019, Bend had 93 homes close. For much of the last couple of months, the real estate market's most significant factor was the lack of inventory. As the summer progressed, more sellers entered the market, bringing the available homes closer to the recent past levels. But, buyers motivated to take advantage of historic low-interest rates were ready to purchase, and by all accounts still are. The low rates have kept the flow of refinanced mortgages steady, with both buyers and refinancers facing more stringent qualification standards. Pending properties in Crook, Deschutes, Harney, Wheeler, and Jefferson Counties are up 18% over 2019!
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Top Cities Searching Central Oregon
The Central Oregon Association of Realtors tracks the number of property views from different cities, and the results might surprise you. The chart below shows the views from June 1 through September 18, 2020.
Surprisingly, California isn't on this list. It is fair to say Bend residents are keeping an eye on the market, and I would expect a fair number are sellers. Less surprising are the large numbers of people from Portland looking outside of the City of Roses. Anecdotally, I have noticed several new neighbors on the Nextdoor app from Portland introducing themselves. Welcome to Central Oregon!
Area Market Reports
Stellar Realty NW
Reed Melton
(541) 408-6625
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