Bend Real Estate Blog

Home Prices Continue to Rise in Redmond

Redmond Oregon Homes for SaleRedmond Oregon single family home sales continue to show strength as we move toward the end of 2017.  Although we see the normal seasonal reduction in inventory and slow down in new purchase agreements, the increase in Redmond home prices persists and the demand for housing remains robust.

When data from November 2016 is compared with November 2017, the results for Redmond OR single family homes sales are as follows:

  • Homes for sale up 9.8%
  • Homes sold down 15.7%
  • Homes pended down 1.4%
  • Average active price up 1.4%
  • Average sold price up 8.1%
  • Months of inventory based on closed sales up 32.5% to 2.4 months
  • Average price per square foot on sold homes up 11.3%*

New Home Sales Are Strong

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Bend Real Estate Sales Slow As Winter Approaches

Bend Oregon Real Estate Winter

As the days shorten and the weather gets colder as we approach the start of winter and the end of year holiday season, real estate sales in Bend typically slow. The November 2017 trends are no different than what we traditionally see this time of year.  When November 2017 trends for Bend single family home sales are compared with November 2016, the data show as follows:

  • Number of homes for sale is up 8.6%
  • Number of homes sold is down 3%
  • Number of homes pended is down .6%
  • The months of inventory based on closed sales is up 8.8% to 2.5 months

Given the continued demand for Bend single family homes, as expected prices continue to rise comparing November 2016 to November 2017:

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Bend Or real estate trendsBend Single Family Home Sales Are Up

The October home sales numbers in Bend provide data which reflect a strong market. Coming out of a summer with an unprecedented number of wildfires which greatly impacted tourism, real estate sales this fall have come roaring back with a large number of closings, new inventory and a continued uptick in home prices.

Comparing October 2016 with October 2017, Bend real estate trends show the following:

  • The number of homes for sale are up 17.2%
  • The number of homes sold are up 15.2%
  • The number of homes pended are up 2.2%
  • The average price per square foot is up 7.3% to $234
  • The months of inventory based on closed sales is unchanged
  • The average active home price is up 8% to $647,000
  • The average
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Central Or Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon real estate prices October 2017

Central Oregon Single Family Home Inventory Levels Remain Low

During a short time during the summer months, Bend had an increase in the months of inventory for single family

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Bend Forecasting BreakfastBend Premier Real Estate has 24 at Bend Chamber Forecasting Breakfast

The recent forecasting breakfast at Bend's Riverhouse had 3 great speakers discussing the national, state and local economy. Locally, Bend's workforce is older than it was 10 years ago, but the diversity of the economy speaks well for future down turns. Bend has jobs in the medical profession, construction, tourism, high-tech, and more so if one specter of the economy is impacted, most likely the city will be able to weather a recession better than a city where only one or two types of businesses hold the majority of jobs.

Discussion also focused on small business start ups and small business loans. Both are on the uptick across the country which speaks well for continued optimism

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Central Oregon Pumpkin PatchThe DD Ranch Pumpkin Patch is an October Must See

For years, the DD Ranch has produced a fun, family-friendly place to visit each fall. Located close to Smith Rock State Park in Terrebonne, the pumpkin patch is open every day in October from 10 to 5. The DD Ranch pumpkin patch offers a farmers' market, hand-made crafts, live music, a petting zoo, kids' corral, pony rides, a "train" ride, clubhouse and playground, a fabulous corn maze, and of course the pumpkin patch.

Attendees can sample great food from beef or pork raised on the ranch and potato chips grown there. And the beef, pork and potatoes, along with gourds, squash, corn, and other produce are available for purchase (many can also be harvested by the buyer). Red wagons are available for use

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Bend Luxury Homes Bend Luxury Home Sales Continue Trending Up

The high end market in Bend appears to be showing continued strength. Despite a smoke filled summer with many forest fires, the concerns which dampened tourism during the eclipse, and an unprecedented winter with more snow than ever recorded before, there is great enthusiasm for Bend million dollar homes.

The following statistics compare September 2017 Bend single family home sales over  $1,000,000 on less than an acre with sales from September 2016:

  • Homes for sale up 27.9%
  • Homes sold up 75%
  • Homes pended up 66.7%
  • Average active price up 12.1%
  • Average sold price down 10%
  • Average price per square foot down 4.2%
  • Months of inventory down 27.5%

More interesting data can be seen

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Bend Oregon LifestyleBend Real Estate Sales Results Remain Mixed

Moving into fall, Bend real estate sales typically trend downward as the weather cools, school starts and tourism drops during the shoulder season between summer and winter. During this time, the frantic pace of summer sales becomes more contained as the buyers with school aged children are no longer looking in large numbers and the bulk of our buyers become retirees, investors or those looking for second homes.

When we compare the September data from 2016 with 2017 for Bend single family home sales on less than an acre, the following changes can be seen:

  • Number of homes for sale up 9%
  • Number of homes sold down 11.6%
  • Number of homes pended up 23%
  • Average price per square foot up 5.9%
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Redmond Oregon Real Estate Vista RimRedmond Home Sales Show Mixed Results

The August data for Redmond single family home sales reflect some of the normal end of summer trends as well as that expected in a growing market. While new inventory has become available, actual pending contracts are the same as a year ago and closings are down 13.6%. The average price of a Redmond home has now reached $178 per square foot - a price which is up 12.7% compared with the same month a year ago. And inventory levels are growing  - up 19.2% from August 2016 for closed sales.

The data show as follows comparing August 2016 with August 2017:

  • Homes for sale up 4.7%
  • Homes sold down 13.6%
  • Homes pended no change
  • Average active price up 4.8%
  • Average sold price up 9.8%

August trends

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Danny and Rhonda AdamsBend Premier is pleased to announce that Danny and Rhonda Adams, both Principal Brokers, have joined the brokerage. Danny and Rhonda have extensive experience in representing clients throughout Central Oregon, but specialize in South Deschutes County, particularly Sunriver real estate. Long time residents of Deschutes County, Danny and Rhonda know the area, have followed the trends, and know how to find the perfect home for their buyers and how to best market their sellers' properties for maximum results. Welcome Danny and Rhonda!

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This content last updated on December 15th, 2017 at 9:14pm PST. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.

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