Posts in category 'Central Oregon Real Estate'
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Central Oregon Real Estate Market Trends - 2nd Quarter 2024
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.3
Central Oregon Real Estate Market Trends 1st Quarter 2024
Central Oregon Market Trends 1st Quarter 2024
The Central Oregon real estate market trends for the major urban areas continue to reflect a seller's market, although residential inventory levels have risen in most locations. The desperate lack of inventory experienced during Covid has changed, and while home prices overall continue to rise, in some smaller markets price reductions can be noted. With more inventory, days on market have also generally gone up, but well priced homes are still selling quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories with home prices, listings, inventory levels and days on market all rising. Whether or not this trend continues in 2nd quarter with mortgage interest rates well about 7% remains to be seen.
6
Brasada Ranch Real Estate Market Trends
Brasada Ranch is a Destination Luxury Resort Community in Powell Butte
Developed prior to the housing crash of 2008, the first 200 homesites offered at Brasada Ranch sold out in a weekend. This special community offers three clubs - athletic, equestrian or golf - as well as privacy and panoramic views. While the development suffered as did all Central Oregon real estate during the great recession, Brasada Ranch came out of those challenging times stronger and with a great vision. It quickly became a very popular destination for many looking for a vacation home or a year-round residence offering the peace and tranquility of the high desert, while all the while enjoying three great active clubs and their amenities. The residents of Brasada Ranch believe as do the readers of Conde Nast Traveler that it is among the "Best Resorts in the World (2021), The United State...