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Redmond Oregon Real Estate | 3rd Quarter 2024 Trends
Redmond Oregon Home Prices Have Leveled Off
Redmond is a quick 15 minute drive north of Bend and has been a great option for those Central Oregon home buyers who cannot afford Bend, in addition to those who just want to live in a growing community that is supportive of business and family. Unlike other areas of Central Oregon, Redmond has been consistent with its home prices. Few luxury homes are found in Redmond, but rather a more homogeneous housing mix of middle class homes. Redmond home sales for third quarter 2024 reflect this consistency. Looking year over year comparing single family home sales on less than an acre third quarter 2024 with third quarter 2023, the following changes can be seen:
- Average sales price down .8% to $552,519*
- Median sales price down 3% to $509,235
- New listings down 7.4% to 250
- Homes for sale up 18.8% to 240
- Pending sales up 13.4% to 212
- Sold homes up 8% to 230
- Average days on market up 77.1% to 62
- Months of supply up 11.8% to 3.8
- Average price per square foot up 1% to $317
- Average percentage of original price received down 1.6% to 97.5
- Dollar volume of closed homes up 7.1% to $127,079,312
Redmond Inventory is Up as are Days on Market
As we move into 4th quarter, Redmond home buyers have more homes to pick from with both inventory levels and months of supply up. For home sellers, making sure their property is priced according to today's market knowing there is more competition could be the difference between getting their home sold or not. Working with a Bend Premier Real Estate broker will enable Redmond sellers to price their home appropriately for today's market.
