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Central Oregon Real Estate Market Trends - 2nd Quarter 2024

July 15th, 2024 by Bend Premier Real Estate

Central Oregon Market Trends 2nd Quarter 2024

The Central Oregon real estate 2024 market trends for most of the major urban areas continue to reflect a seller's market in 2nd quarter, although that has changed in La Pine where inventory levels at 7.4 months reflect a buyer's market; Powell Butte and Madras are in a balanced market at 6 months. Although still in a seller's market, inventory is at a level in Bend that hasn't been seen since July, 2015 when the average home price was $391,000 and mortgage interest rates were at 4%.* With more inventory, days on market have also ticked up, but well priced homes can still sell quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories (the only exception for Bend is the number of homes sold) with home prices, listings, inventory levels and days on market all rising. As we move into 3rd quarter, we expect mortgage interest rates may drop, which could enable more home buyers to afford a Central Oregon home.

*Data from Central Oregon MLS, July, 2024.

Categories: Central Oregon Real Estate Market Trends

Tags: bend oregon real estate, bend real estate, bend homes for sale, bend oregon, bend home prices, bend single family homes, bend homes, bend real estate trends, Downtown Bend, Why We Love Central Oregon, Old Mill, Redmond Oregon Real Estate, Redmond Real Estate Trends, Central Oregon Real Estate, Central Oregon Real Estate Trends, Black Butte Ranch, Brasada Ranch, Crooked River Ranch, Eagle Crest, NorthWest Crossing, Pronghorn, Rivers Edge Village, River Rim, Tetherow, Bend, Redmond, Sunriver, Sisters, Prineville, Powell Butte, Terrebonne, Culver, La Pine, Madras

Central Oregon Real Estate Market Trends - 2nd Quarter 2024

Central Oregon Market Trends 2nd Quarter 2024

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