The contrasts between this fall and last could not be more apparent than in the number of sold single-family homes in Deschutes County. Through this day last October, there were 450 sold homes, compared to 338 this year. Before the record-breaking sales volume of 2020, October sales in 2019 were 362, 369 in 2018, and 365 in 2017. Mortgage interest rates rose again this week to 3.09%, up .04% from last week, possibly explaining some of the slowing buyer demand. However, typical seasonality is most likely the most significant contributing factor. While mortgage interest may be rising, last October's 30-year fixed-rate mortgage averaged 2.8%, the lowest of the previous five years. For perspective, in October 2018, the mortgage rate was 4.86%! Fall is typically a busy time for Central Oregon real estate, and this year has been no exception.
While this view from the back deck of 1068 Golden Pheasant Drive may be snow-covered before long, there are still plenty of crisp fall days left to enjoy Eagle Crest and Central Oregon! A vacation rental and second home wrapped into one, with all of the resort amenities steps from your front door! Call Reed for more information!
