We have enjoyed incredible sunsets in Central Oregon during our recent summer storms. Along with sunsets comes Petrichor: the earthy scent produced when rain falls on dry soil. The term was coined in 1964 by two Australian researchers, Isabel Joy Bear and Richard G. Thomas, for an article in the journal Nature. In the article, the authors describe how the smell derives from an oil exuded by certain plants during dry periods.
Thinking of buying or selling? Call Eric (458) 202-9936
The Central Oregon Market Report for August 2019: The median home price in Deschutes County was $419.7K, which is +5.6% over last year (YoY). Average days on market is 91, -11.7% YoY and current inventory is +5.4% YoY at 3.9 months. Compared to July 2019 we are seeing a slight increase in prices, while days on market decreased, and inventory held steady.
Median Home Prices by City
Bend: $460K +6.5%
Redmond: $319K +6.4%
Sisters: $465K +6.9%
Sunriver: $500K +0.8%
Three Rivers South: $395K -7%
Pending Sales decreased by 10%, and homes Sold increased 9% from July to August. New listings in August decreased slightly but are still up 12.4% YoY.