June 2023 Housing Market Report for Central Oregon
The heat is on! As we make our way into summer, the Central Oregon real estate market is skyrocketing. With data from the June 2023 Beacon Report for Central Oregon, we can see an increase in median price, number of closings, and months of inventory, while the days on the market have decreased to only one week.
Watch Video: June 2023 Housing Market Report for Central Oregon
June 2023 Beacon Report for Central Oregon
The June 2023 Beacon Report for Central Oregon looks much different than last month’s. It shows a high demand for homes, with only 7 days on the market, and roughly 18% more closings. Buyers are back and looking to purchase, making it all the more reason to sell your home this summer.
Additionally, the median price has increased by 10% since last month, meaning that the houses selling are at a higher price point. At $745K, we haven’t seen prices this high since July 2022.
In Central Oregon, we’ve got more total closings, more homes on the market and fewer days on the market at just 7 days after listing—homes are going under contract faster than ever in 2023.
June 2023 MLS Data for Central Oregon
As a reminder, 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.
An overall increase of all aspects of the MLS Data, there are few takeaways from these numbers:
- The number of listings continue to rise at a higher rate, hinting that there will likely be an increase come July!
- Days on the market have increased slightly, but this is not purely negative as there is still a higher rate of closings.
- The average price change has increased slightly, meaning that sellers are adjusting their prices. However, this shows sellers are willing to adjust their prices to meet the demands of the market.
From looking at all the data and insights into the Central Oregon market, it is clear that things are picking up pace in the hotter weather. This is positive for both sellers and buyers alike, bringing them one step closer to their goal.
Summer is a great time for new transitions, which is why Bend Relo has partnered with The Pasinetti Group NW, featuring incredibly talent agents Amanda and Chad Pasinetti! For more information on this new collaboration, visit our blog.
Read the full Beacon Report for Central Oregon March 2023
If you want all the details about all Central Oregon locations, download this printable report.