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We focus a lot on the real estate market trends for Bend and Redmond, but Central Oregon also encompasses many other towns and areas, all with their own charm and unique lifestyle. Housing prices and types of homes vary in these towns and it is interesting to see how each community compares with the next. While Bend has seen the bulk of growth over the last 3 years, Redmond was the fastest growing town in Central Oregon in the second quarter 2019 according to the multiple listing service. Sunriver, Central Oregon's most known resort community, has maintained a relatively stable real estate market over the last 3 years, and Prineville, one of the most hard hit towns during the recession, is now seeing tremendous growth.
While...
#flipbook-june-newsletter#
#flipbook#
Historically, our local commercial real estate market trends above the national averages. Our Central Oregon area commands very aggressive CAP rates due to supply and demand; when you put a magnifying glass to our market, we have very little Industrial property For Sale/For Lease and it would appear that the Urban Growth Boundary expansion recently passed will not solve this immediate problem. Our local market in most cases this year has positive absorption rates for office and retail as well.
What's Up on the National Front?
Our local commercial real estate market trends about a year behind what we experience in the residential market. This is consistently true and while residential real estate sales experienced a sudden recessional impact in 2008, commercial real estate sales stayed consistent until roughly 2nd quarter 2009 and then fell into distressed "short sa...
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