As we enjoy the height of summer, with great weather and bustling community activities, we are seeing the real estate market reflect the high season for home buying and selling. July proved to be a busy month, showing more active listings than in June. We saw 522 active listings in June and July turned out 547. For buyers and sellers, the market is ripe and everchanging, with a great inventory to choose from. We also saw great numbers of new homes on the market, although a slight decrease from June, the numbers were steady.
Inventory
Summertime is always a great time to buy or sell and right now, real estate in Central Oregon offers a nice variety to choose from. The largest inventory of homes available in July was in the $325,100-$425,000 range, showing 166 active listings.
Pending Sales
We saw a slight decrease in pending sales in July, showing 240 pending sales, where we saw 256 in June. We are seeing consistent pending and sold listings as we move through summer and slight changes are typical this time of year. Buyers are still responding to the market and grabbing the homes that are available.
Price Reductions
In June, there were 184 listing reductions and July presented 230 reduced listings. The increase in price reductions offers a larger variety to choose from, which is why we saw an increase in the $325,100-$425,000 range. We might see this number increase even more as summer winds down and fall trends move in.
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