Central Oregon Market Update - July 2021

Summer is here and we are feeling HOT HOT HOT! Temps are soaring, real estate prices keep going up, and Bend is bustling with tourists. It definitely feels like our little town is getting bigger by the minute. We can’t blame people for wanting to be here though - it’s an awesome place to explore!

The latest market analysis numbers are in, and the numbers are still surprising us. The median sales price for a single family home in Bend went up to $640k from $628k just last month. Unfortunately, inventory is still low (we only have about a two week supply - where normally this time of year we have about 2 months), but the good news is that things have started to feel a little less stressful for Buyers. A couple of months ago a new listing would get 15-20 offers, now it seems like that has cooled a bit and they only get 4 or 5. But the days on market are still extremely low. Have some Buyers decided to just wait things out to see what happens? Perhaps folks are just taking some time off to enjoy Summer with their families? COVID-19 numbers are down and mask restrictions are being lifted. Things are starting to feel more “normal”.

We are still finding time to play and enjoy the things that we love about Bend! Rachel just got to spend time with family while her dad was in town for the 4th. They floated the river - a welcome reprieve from 100+ degree temps!

Kacey escaped the heat with her family and went to Newport, OR to celebrate her sister’s birthday. It was short but sweet. We are so grateful that we are a team and can help each other live a balanced life!

Interest rates are still hovering right around 3% for most situations. If you are thinking of buying or selling, or have friends and family wanting make a move… we are here to help!