Inventory: Bend currently has 469 active listings, compared to 718 in pre-pandemic October 2019. Low inventory is keeping prices high (remember economics class?) in Central OR and elsewhere. Another indicator is the MEDIAN days on market, which eliminates the outliers of homes that haven't sold in eons from skewing averages. We're almost exactly where we were in Oct. '19 in terms of how long it should take to sell your home based on half of homes taking less time to get an offer, and half taking more time. Nationwide, it's typical to see 30-35% of listings with price decreases. Today in Bend, 48% of current listings have decreased their prices, likely from starting too high and trying to lure reluctant buyers before winter. Remember you can click the report, enter your own zip code of interest, and subscribe for regular updates.
