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Redmond Oregon Real Estate - 2020 Market Trends
Redmond OR Real Estate Trends Reflect Great Interest
Redmond, Oregon has often been thought as a more affordable option to Bend. And when we represent buyers looking to settle in Central Oregon, Redmond often becomes their choice when they discover what they can afford to purchase there versus what they can afford in Bend. And Redmond is growing with over 500 new construction homes either sold, pending or active in MLS over the past 12 months.*
When Redmond single family home sales on less than an acre from 2020 are compared with those from 2019, the following can be noted:
- Average sales price up 11.99% to $390,355
- Median sales price up 12.1% to $359,900
- New listings up 10.7% to 1266
- Homes for sale down 13% to 309
- Pending sales up 35.1% to 1348
- Sold homes up 18.9% to 1185
- Median days on market down 56.7% to 13
- Months of supply down 20.5% to 3.5
- Price per square foot up 8% to $216
- % of list price received 100%
- Dollar volume up 33% to $462,570,109
Our Predictions for Redmond Real Estate Sales in 2021
With the average price of a Bend Oregon home now over $600,000, homebuyers in Central Oregon are finding that Redmond offers wonderful homes at a price that works better for many. And Redmond also qualifies for USDA loans as well - another reason homebuying in Redmond is a viable option for future and current Central Oregonians. The December 2020 figures for Redmond months of supply for single family homes on less than an acre show that there are 3 weeks of homes available for purchase - almost as tight with inventory as Bend. Until the demand drops, we expect that lack of inventory will remain an issue with Redmond homebuyers and prices should continue to rise.
*Information from Central Oregon MLS