Enjoy Bend Life Real Estate | Realty ONE Group Discovery
Madras, OR
Single-Family Homes
Reed Melton | www.EnjoyBendLife.com | (541) 408-6625 | Reed@EnjoyBendLife.com
Madras, OR
Thu May 09 2024
This week the median list price for Madras, OR is $399,900 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has increased to 44.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $399,900 | |
| Median Price of New Listings | $622,400 | |
| Per Square Foot | $254 | |
| Average Days on Market | 102 | |
| Median Days on Market | 84 | |
| Price Decreased | 30% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 44 | |
| Median Rent | ||
| Market Action | 33 | |
| Slight Seller's Advantage | ||
The market appears to be hovering around this plateau. This week prices eased down a bit. The Market Action Index is a good leading indicator for the durability of this shift.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $799,000 | 2,030 | 0.5 - 1 acre | 3 | 2 | 33 | 2 | 1 | 56 |
| $459,900 | 1,984 | 1 - 2.5 acres | 3 | 2 | 58 | 1 | 1 | 91 |
| $389,950 | 1,635 | 6,500 - 8,000 sqft | 3 | 2 | 2 | 0 | 0 | 84 |
| $299,000 | 1,256 | 6,500 - 8,000 sqft | 3 | 1.5 | 55 | 1 | 0 | 35 |