The housing market in bend is stabilizing!

You may have noticed real estate market conditions are stabilizing as we head into the new school year. The median home price dropped to $431,000 in August from its 2018 high of $449,000 in June. Homes are on the market an average of 73 days and the median price per square foot in August was $225 down from the July high of $229.

There are still Buyers in the area and we should continue to see reasonable Buyer activity throughout the cooler months. Residential inventory levels are stable over 600K mark in Bend but we are still in a shorter supply at lower price points. Check out the latest statistics for Central Oregon below compliments of the Beacon Appraisal Group!