CENTRAL OREGON REAL ESTATE

WHAT THIS MEANS FOR SELLERS

If You're Thinking About Selling

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The numbers this week are worth paying attention to if you're thinking about selling.

The median list price is $610,000 but new listings are coming onto the market at $569,900 — meaning sellers who are pricing realistically right out of the gate are doing so about $40,000 below where the overall market is sitting. That gap tells you something. The homes priced at the top are the ones contributing to that 43% price reduction figure and the 94-day average days on market. The homes priced right are the ones in the absorbed column.

Median days on market jumped from 42 to 56 in the past month. Inventory climbed from 231 to 241. The Market Action Index ticked down from 33 to 32. None of these numbers are alarming on their own but they're all moving in the same direction — slowly and consistently toward a softer market.

We're still in seller's advantage territory. That window is open. But the sellers who price correctly right now are the ones who will close before that window narrows further. The ones who push the price and plan to negotiate down are the ones who will be chasing the market in 60 days.

This is exactly the market I talk about when I say getting it right the first time matters. It's not about leaving money on the table. It's about not losing it.

WHAT THIS MEANS FOR BUYERS

If You're Thinking About Making a Move

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Inventory is at 241 active listings and climbing. Median days on market is now 56 days. Forty-three percent of active listings have already had a price reduction. These are the most favorable buyer conditions Redmond has seen in a while.

That doesn't mean prices are in freefall — they're not. The market is plateauing, not collapsing. But buyers who come prepared with financing in order and a clear picture of what they want are finding more room to breathe and more room to negotiate than they had six months ago.

The most active price range is still $450,000 to $600,000. If that's your budget, there's real inventory to work with right now. Come ready to move when the right home shows up — the well-priced ones are still going under contract, just not in 10 days anymore.