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Local Real Estate Market Cools Down Again for November

Sales volume down over prior year and October 2018

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According to November 2018 Central Oregon MLS statistics for Bend single family residences (excluding condos and manufactured homes) on 1 acre or less, the market cooled down again, with sales volume decreasing by 17 percent from November 2017. The median price increased slightly from $432,900 in October 2018 to $433,143 for November 2018.

Sales of homes under $500,000 for November 2018 represented 62 percent of total sales as compared to 73 percent for November 2017, partially reflecting the rise in prices along with inventory shortages.

One piece of good news is that mortgage rates have been falling, and at press time were at 4.75 percent. Hopefully this will bring some help to current home buyers.


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