Bend Real Estate Market Update and Scenic Photos of Central Oregon

I Hope you are having a great week. Enjoy these photos I captured from Central Oregon and check out the latest real estate market update for Bend and Central Oregon. 

Central Oregon remains highly desirable both to full time residents as well as vacationers and second home buyers and prices have now recovered to almost the peak of a year ago. 

Market trends in most segments including single family residential, show the average sold price in Bend has moved higher overall since March, mainly due to lower inventory levels. When looking at the YOY median sales price in Bend, prices have now recovered to almost historical highs in June 2022. This is a recovery from what now looks like the bottom of price declines in January of this year when Bend home prices were down almost 11% from the previous year. (Hint: If you have been waiting to sell now could be a great time.)

Benefit now to sellers: Low inventory currently is keeping prices high despite the buyer financed segment of the market that shrunk the pool of buyers. Cash buyers are still purchasing homes and taking advantage. 

Benefit to buyers: Less competition, less bidding wars, and good opportunities exist with those sellers that are motivated to sell and not just testing the market at higher price range for their property.  

Overall: The market is still tipped slightly to sellers with opportunities for buyers who are patient, know what they are looking for at the right price.

Follow the link below for real time market updates. 

https://jameskinney.evrealestate.com/snapshot

If you are considering buying or selling, reach out and let's discuss your real estate goals. Search for homes and property, get market updates, learn more about Bend and Central Oregon on my website  JamesKinney.evrealestate.com

Today is a new beginning full of POSSIBILITY! 

Live Your Best Life,

James (Jim) Kinney

Global Real Estate Advisor

ENGEL & VÖLKERS  Bend -USA

Licensee of Engel & Völkers U.S. Holdings, Inc.

828 NW Wall Street

Bend, Oregon 97703

Mobile: 541-410-2974

Email: [email protected]

Website: JamesKinney.evrealestate.com