The Payson Group

Bend October 2023 - Real Estate Market Update

Single Family Homes Reported

🏡 146 Homes Sold
🏡 168 New Homes Listed
🏡 $865,000 Average Sales Price
🏡 2.5 Months of Inventory

Compare this to last month where
September 2023 was: ⬇️⬇️⬇️

146 Homes Sold
149 New Homes Listed
$942,000 Average Sales Price
2.7 Months of Inventory

Compared to last year where
October 2022 was: ⬇️⬇️⬇️

182 Homes Sold
148 New Homes Listed
$861,500 Average Sales Price
2.8 Months of Inventory

If you are curious about what your home’s value is, send me a message and I can prepare a cost analysis for your home (also known as a Comparative Market Analysis - CMA).

I'm so happy to announce we are PENDING on this fantastic little gem of heaven for our dear client! This was not what I would call an easy win, but a massive WIN! Multiple offers, but in the end, with well over a decade of experience at creating winning offer strategies, our client prevailed!

66280 Jericho Rd, Bend, OR 97701 Mini ranch on park-like setting with Cascade Mountain views and end of road privacy. Ideal for horses & cattle. Fully renovated home. Direct access to 1000's of acres of BLM trails. Interior Features: Large primary bedroom with mountain view deck; Knotty Alder cabinets/doors/trim throughout; Large k...

Interest Rates are on the Rise! What does it look like to you? If you have a specific loan amount you want to look at, reach out, and I will provide you with a snapshot.

This is nothing like 2008.
In fact, it’s the exact opposite.

3 Reasons We’re Definitely Not in a Housing Bubble Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally...

Housing Starts and Sales

Housing starts and housing sales represent a major indicator of the health of the national and local economies. Housing starts and sales impact a whole range of economic activities, such as the purchase of furniture, major and minor appliances, home decorations, landscaping, painting, home improvement labor and material providers, and the like. All of these activities are driven by housing starts, which are driven by housing sales.

An area with an active new housing and resale market usually indicates a healthy local economy. These markets will often experience a rise in home prices, reflecting not only the desirability of the area but also indicating that the local area is experiencing a strong and healthy job market.

The more you educate yourself, the better choices you can make!

Home Prices: What Happened in 2020? What Will Happen This Year? The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of the Fe...

“Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million). Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.”

Local Bend is sitting with a ½ month of sellable homes on the market.

Want to discuss your options? Text, phone, PM me.

What Record-Low Housing Inventory Means for You | Keeping Current Matters The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year.

If you are looking to buy or sell in Central Oregon, you might want to have all the information you can to make good choices! A quick read from those on the front lines. Also, you need to know that we have less than a month's supply of homes; This means it's a seller's market.

▶️ Pandemic doesn't stop hot Central Oregon real estate market By STEELE HAUGEN CENTRAL OREGON DAILY NEWS Welcome to the real estate market in Central Oregon. "This is a crazy market, we have not seen a market like