Enjoy Bend Life Real Estate Group | Realty ONE Group Discovery
Madras, OR
Single-Family Homes
Reed Melton | www.EnjoyBendLife.com | (541) 408-6625 | Reed@EnjoyBendLife.com
Madras, OR
Mon Dec 30 2024
This week the median list price for Madras, OR is $449,000 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has decreased to 59.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.
Real-Time Market Profile
| Median List Price | $449,000 | |
| Median Price of New Listings | $300,000 | |
| Per Square Foot | $267 | |
| Average Days on Market | 137 | |
| Median Days on Market | 105 | |
| Price Decreased | 39% | |
| Price Increased | 0% | |
| Relisted | 3% | |
| Inventory | 59 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $974,500 | 2,394 | 5 - 10 acres | 3 | 2.5 | 31 | 0 | 1 | 154 |
| $495,000 | 2,025 | 0.25 - 0.5 acre | 3 | 2 | 18 | 0 | 0 | 133 |
| $409,999 | 1,677 | 6,500 - 8,000 sqft | 3 | 2 | 4 | 0 | 0 | 70 |
| $311,900 | 1,233 | 4,500 - 6,500 sqft | 3 | 2 | 0 | 1 | 0 | 84 |