Our analysis of December data reveals a Central Oregon real estate market that saw in increase in overall sales with a slight decrease in inventory being added to the market. A decrease in new and active listings, coupled with an increase in sales had an overall effect of less months of inventory and decreased days on market which leans favorably toward sellers. Let’s look at the numbers a little more closely.
Active Listings were down by 14 percent from November. The only category to see an increase in active homes was the $125,000 – $225,000 price range; while all others saw decreases.
Additionally, the general movement of inventory from November to December (active listings, new listings, and sales) saw decreases in both active listings and new listings, coupled with a 52 percent increase in sales. Sales increased in every price range while we saw new listings decline.The number of properties seeing reductions in price decreased by 34% with all price categories seeing decreases. This means that there was an overall decline in the number of properties that had to reduce prices in order to sell which falls inline with the increased sales numbers while there was less inventory being added.
The average days on market also decreased by 12%, while back in November it had increased by 26%. The only category to see an increase in the days on market (the average of how long it takes a property to sell) was the $625,000 & up price range. This decrease in time on market also indicates a stronger sellers market as properties are moving quicker and especially given that there were less entries (actives and new listings).
The months of inventory decreased by 40 percent from November where it was sitting at 5.2 months and now sits at 3.1. October and November saw an increase in the months of inventory, while December is now seeing a decrease.
Overall, in December, we saw an overall drop in inventory with stronger sales, less reductions in price, a decrease in the days on market and a decrease in the months of inventory. Those indicators point to a December that shows we are still in a sellers market going into winter with some contributing factors being the weather, which slows down construction, and the extended amount of time for builders to obtain permits which contributes to a slowing down of new construction as well.
| Active | $125 – $225 | $225 – $325 | $325-$425 | $425 – $525 | $525 – $625 | $625 & Up | Total |
| 1/1/16 | 4 | 79 | 102 | 53 | 44 | 113 | 395 |
Duke Warner Realty was established in 1967 by Duke and Kitty Warner. Their philosophy wasto establish a first-rate real estate company sensitive to their customers’ needs. Duke Warner Realty’s brokers share this philosophy, and today the firm is widely known for its personalized service and reliability. For more information, contact www.dukewarner.com 541- 382-8262.
