During the pandemic many homeowners secured low mortgage rates- perhaps you are one of them! This has resulted in a reluctance to sell, and consequently, inventory levels remain at record lows. 90% of mortgaged homeowners currently enjoy rates of 6% or less! Nobody know with certainty what will happend, but experts are predicting rates to come back down this winter and spring. When this happens we will have more home owners listing their homes, and more Buyers ready to make the move.
How is the Bend Real Estate Market?
In October, Bend's sales price took a slight decline to $735,000. Redmond's median sales price ticked up slightly to $520,000 . Sold homes are spending an average of 17 days on the market, and for the FIFTH month in a row we have a stable 2 month supply of inventory.
