June Real Estate Forecast shows Summer is here, with high inventory and sales
It’s the time of year that the real estate market in Central Oregon really takes off. Buyers and sellers alike should pay attention to the real estate market, to learn how it could affect real estate decisions, both listing and buying.
Over the past couple of months there has been a slight increase in the number of active listings, until June. In June the number of listings soared to 442 from 337 in May. This is expected, as the late spring and early summer months is the time when the real estate market really takes off in Central Oregon.
As the summer is the most active time for real estate activity, we do expect to see this trend continue throughout the summer, along with more sold listings and pending sales.
Consistent Pending Sales
If there’s ever a drop in the number of pending sales, it typically means that buyers are getting more cautious and are analyzing pricing more before purchasing. But given the consistent pending sales from May to June, buyers are loving the number of available listings, and sales haven’t slowed down.
More Sold Listings
While the number of sold listings stayed consistent in April and May, the number has climbed to 246 in June. This indicates that Summer is here, and the time to buy is now. With plenty of available listings on the market, there’s a home for everyone’s taste.
Typically, when there’s a wide inventory of properties, sellers have to consider more competitive pricing. When buyers are looking for the perfect home, they might be able to find similar homes at completely different price points. So as a seller, it’s time to talk to your Bend real estate broker, and make sure you’re priced competitively. Check out recent comparable sales in your neighborhood, and be sure that your pricing is where it should be. If your home is priced competitively, you’re more likely to get the right offer for your home
Find the perfect home with Duke Warner
Spring and Summer is the most active time of the year for real estate in Central Oregon. If you’re looking for a new property, or want to get something listed, Duke Warner Realty is ready to help. Visit us today at dukewarner.com, browse our Facebook page, or call us at (541) 382-8262.