Inventory, or the lack of inventory, continues to be a factor in the Deschutes County real estate market this spring. After hitting a seasonal bottom in February at 1675 the number of homes for sale has slowly been building to May’s 1892. Even though inventory is rising, that number is still below the average of the last six years and we are seeing the effect that low inventory numbers can have on the market. It is not uncommon to have multiple offers on new listings.
This is great news for sellers who are able and willing to list their homes for sale. I know that our clients have been extremely happy when their homes have gone pending within three days of being listed. Of course this isn’t true for every home that hits the market but buyers are extremely active right now and a home that is priced right won’t last long.
Last month 355 homes were sold and I expect that number to go up in June because there were 424 sales that went pending in May. That is the most sales pending in a given month since September 2009 when there were 453. If you are in a good financial position on your home and have been thinking about selling it, now is a great time to give us a call at (541) 508-2930. We will compare your home with other homes that have sold in your neighborhood (Current Market Analysis) and let you decide if it makes sense to list your home for sale now.
You can read more monthly sales reports: Bend Home Prices.
Real Estate Sales information courtesy of Central Oregon MLS