Maybe Punxsutawney Phil might be the one to recap the
year in Central Oregon real estate.
In short it might be best described as a Groundhog Day
market- more of the same in terms of rising prices and number of sales, with
continued tight inventory.
At year end the inventory of single family homes on less
than an acre throughout the region ranged from a low of only 1.69 months supply
in Redmond to 4.50 months in Jefferson
County. At 2.03 months inventory Bend was close behind Redmond on the
availability chart.
The inventory numbers are computed by averaging the past
12 month sales and dividing the current total of MLS listed homes by the
average.
Moreover the inventory has continued to shrink from
yearend 2014 numbers. A balanced buyer-seller market is generally considered in
the 5-6 months range.
The largest median price gain was in Sisters, with an
increase of 23% to $330,000. Redmond rose to $223,266, a 14% increase, and Bend
to $327,478, up 13%.
Unit sales of homes on less than an acre jumped by 40% in
Sunriver had the largest jump in unit sales, by 40% and also recorded the
highest median price at $375,000. Redmond unit sales rose by 15% in Redmond and
9% in Bend.
2015 Central Oregon home sales
