Deschutes County Housing Update - Resale Only
NEW YEAR KICKOFF
With the winter cleanup of unsold inventory complete, we are entering the year with a shortage level of unsold inventory up to $500,000 where 38% of sales activity takes place and healthy level to $1 million where 47% of sales activity takes place. A low number of new listings come onto the market during January and February. With this as a backdrop, we anticipate strong/healthy Sales Activity Intensity™ of new listings going under contract within the first 30 days.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
BACK TO TOP
KEY MARKET INDICATORS JANUARY 2023 (DECEMBER RECAP)
With fewer buyers looking to purchase homes, there are fewer homes coming onto the market which is leading to the shortage/low level of unsold inventory especially in the more affordable, mid-price+ range of homes. Heading into the spring market, we will increase one level of hotness of Sales Activity Intensity™ for new listings before the intensity settles down pre-summer when we can expect to see a higher number of new resale listings coming onto the market. Remember, it’s okay to buy and sell within same market timing.
Current housing market:
