June saw a more than 22% increase in the number of active listings in Deschutes County, with 761 new listings introduced to the market, a number roughly in line with past seasonal trends.
The active median list price continues to climb, reaching yet another historic high at $689,000. The median sold price, while 16% lower, is creeping up as well, reaching $575,000 in June.
The absorption rate, which tells us how long the current inventory of properties would last at the current rate of sales, continued its upward trend since March, when it hit a historic low. Likewise, days on market saw a tiny 3% increase from the month before, still significant considering its free fall for most of the year.
While still a strong seller’s market, and with prices still rising, there are some signs that the market may be beginning to shift. For now, buyers will continue to have to bring their best and strongest offers in order to win the few listings available.
If you're considering selling or purchasing in this market, we highly recommend that you connect with one of our experts.
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