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Real Estate Update | December 2022

REAL ESTATE UPDATE | DECEMBER 2022

The Central Oregon Real Estate market continues to soften in the final month of 2022. Bend’s median home price has nearly returned to where it started at the beginning of the year. According to the Beacon Appraisal Report, in January the Bend median home price was $683,000, peaking in March at $773,000 and now November was reported at $696,000. As this market correction continues to develop, active listings are down 17% from last month while sales are down 9%. There has been a decrease in the 30 year fixed rate mortgage, now in the low 6% range but much debate is being had whether these rates will remain or increase in the shadow of another FED’s rate hike this week. 

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