Autumn is just around the corner, and the housing market is looking at significant changes. In correlation to the August 2023 Beacon Report data for Central Oregon, there is an overall decrease in days on market, and an increase in median price, although there’s more than meets the eye with these headline numbers.
Watch Video: August 2023 Housing Market Report for Central Oregon
August 2023 Beacon Report for Central Oregon
The Beacon Report for August 2023, shows various sets of data on closed homes in July.
The Bend SFR market set another record with a median price of $800k, indicating a higher price point. Additionally, we are seeing a 44% decrease in days on the market to only 9 days. And with no change in inventory, this data validates a steady supply in housing within the Central Oregon real estate market.
While closings may have dipped slightly this month, we are looking forward to seeing a possible increase of closings within the remainder of the year, based on previous activity last year.
MLS Data for August 2023
Through looking at the MLS Data, it is important to remember that the MLS Data is more up-to-date than the Beacon Report, and it also represents all the properties on the market, unlike the Beacon Report, which only represents the properties that sold.
The MLS Data shows us a couple of key things this month:
- There are 21 fewer closings than in July, a small change within the market
- Median days on the market have increased slightly to 41 days, but there are still enough closings to reassure sellers their home is likely to sell at a price they’d like.
- 167 listings have changed their price, yet only a decrease of about 5%, which is right on cue with ensuring accurate pricing within the market
Autumn is the perfect time for families and individuals to start afresh in a new place or house, which also makes it a great opportunity for sellers to list their homes.
If you’re interested in buying or selling a home, don’t hesitate to reach out to us and a BendRelo agent will get in touch with you shortly!
Read the full Beacon Report for Central Oregon August 2023
