Central Oregon Versus the USA Real Estate Market
Lately, the real estate market has been anything but stable. In this article, we’ll outline how the market is doing overall in the nation, then zero in on Central Oregon, so you can get a general idea of how the two compare.
The US Real Estate Market
The Market in Central Oregon
Central Oregon’s real estate market outpaces many others in the nation. While averages are still strong, we have seen some declines in listing prices. The reason sales prices remain constant is because Central Oregon is such an alluring location – people want to live here, and that helps the market.
In Bend, demand is especially high. As one of the most beautiful cities in the nation, people are itching to buy there even with increased interest rates. In Bend, homes have sold for 100% of asking price, and they typically sell within the span of two weeks.
In Redmond, listing prices have declined and the sale price is about 98.4% of asking. Interest rates continue to rise, which impacted Redmond’s land and acreage market, but it isn’t doing too bad.