Central Oregon Real Estate | Market Overview
What’s happening in our local Central Oregon real estate market?
Three of our FRED brokers hiked the trail up Pilot Butte to discuss what trends they’re seeing in the Central Oregon market so far this year and offer insight and immediate advice for both home buyers and sellers moving into 2020:
The fourth quarter of 2019 is seeing a slight cooling with activity and traction throughout Central Oregon. We’re still experiencing a seller’s market based upon inventory on market with Deschutes County at around three months of inventory and Crook County and Jefferson County at approximately slightly above four months of inventory. We’re also seeing days on market seasonally fluctuate and median home prices decline.
The Beacon Appraisal Group’s November report noted a $40,000 decline in Bend home prices (from October) recording the lowest median price -$431,000 – since last winter. Redmond also experienced a decline in median home prices – $320,000, though less dramatic than Bend. Other median sales prices in the region, per the November report, listed $255,000 in Crook County and $181,000 in Jefferson County/Crooked River Ranch. View the full November report here.
At a glance market overview by county for Q4 so far (final numbers for Oct-Nov 2019):
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