The Spring Market is here! The weather has remained mild and Punxsutawney Phil, the famous groundhog, predicted an early Spring, making it a great time to list your home and beat the rush. No need to wait until April or May, buyers are ready to purchase now and inventory is low.
The Central Oregon Market Report for January 2020:
The median home price in Deschutes County was $425K, which is +5% over last year (YoY). The average days on market is 111, which is +1% and the current inventory is -3.2% YoY at 3 months. Compared to December 2019 we saw a slight increase in prices and days on market. Inventory decreased by 27% likely due to the holidays.
Median Home Prices by City:
Bend: $450K +5.9%
Redmond: $325K +8.8%
Sisters: $425K +7.9%
Sunriver: $445K -4.1%
Three Rivers South: $389K +11.1%
Pending Sales decreased by 28%, and homes Sold increased 15% from December to January. New listings in January increased by 42% and are +8% YoY.