Is Deschutes County a Buyer’s or Seller’s Market?

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Is Bend experiencing a buyer’s market or a seller’s market? I get this question almost every day. It’s a tough question because the answer depends on the price point that we’re discussing.

I did some research to break down where we’re seeing a buyer’s market and where we’re seeing a seller’s market. Historically, we have a seller’s market when there are fewer than five months of inventory. It’s a buyer’s market if we have more than five months of inventory. 

When I looked at homes priced up to $500,000 in Deschutes County, we showed only 1.7 months of inventory. Going up to $700,000, there were still only four months of inventory showing, which means in Deschutes County, if you’re a buyer looking for a home costing $700,000 or less, there is not a lot of inventory or options. Sellers get to be picky and require full price or close to full price.

Buyers will also have to settle for a little bit less than their ideal, just because there are not a lot of options.

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The type of market we’re in depends entirely on the price point.

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What’s interesting is that when you look at a price point higher than $700,000, the supply jumps up to eight months. At more than $900,000, we jump up to 11 months of inventory. That indicates that there are not a lot of sales going on, and buyers have more options. If you’re a seller at that price point, you may need to drop your price or really make some concessions to work with a buyer if one comes along. 

So remember, when looking at a buyer’s market vs. a seller’s market, in Deschutes County, it all depends on the price point.

If you have any more questions, or you’re thinking about buying or selling a home in Bend, give me a call today. I look forward to hearing from you!