Numbers of Central Oregon Single Family Homes for Sale Up

One of the key components on the health of a real estate market is the inventory levels of the homes selling. In a balanced market, there are 6 months of supply.  In Central Oregon, there has been a great lack of inventory for several years in most of the cities which has led to a seller's market with rising home values, multiple offers and in some cases, a certain desperation for buyers to find a home.  Full price offers or even offers over asking have been the norm at certain prices for a while.  However, there appears to be a shift happening in much of Central Oregon with the number of single family residential homes available for sale rising.

The following chart shows the las...

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Redmond Real Estate Sales Strong

Single family residential home sales in Redmond Oregon have been very strong so far in 2018. The number of homes offered for sale has grown, but so have the numbers sold and pended. But unlike Bend, home prices have not escalated and Central Oregonians continue to find Redmond an affordable option to Bend.

For June 2018 compared with June 2017, the data on Redmond Or single family home sales show the following:

• Homes for sale up 12.3% to 237

• Homes sold up 6.7% to 95

• Homes pended up 14.6% to 94

• Average price per square foot on sold homes up 6.9% to $187,000

• Months of inventory based on closed sales up 4.2% to 2.5

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Redmond Real Estate Sales Strong

Single family residential home sales in Redmond Oregon have been very strong so far in 2018. The number of homes offered for sale has grown, but so have the numbers sold and pended. But unlike Bend, home prices have not escalated and Central Oregonians continue to find Redmond an affordable option to Bend.

For June 2018 compared with June 2017, the data on Redmond Or single family home sales show the following:

• Homes for sale up 12.3% to 237

• Homes sold up 6.7% to 95

• Homes pended up 14.6% to 94

• Average price per square foot on sold homes up 6.9% to $187,000

• Months of inventory based on closed sales up 4.2% to 2.5

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Redmond OR Home Prices Continue to Rise

Redmond has historically been a more affordable option for people moving to Central Oregon. Home and land prices in this vibrant town have remained lower than those in Bend, and with the commute between the two communities less than 20 minutes, Redmond has often been a first choice for many relocating to our area.

However, the growth in Central Oregon has pushed single family residential home prices in Redmond higher since coming out of the recession in 2012. In fact, over the past five years, home prices in Redmond have doubled with the average sold price now over $300,000.

When single family residential Redmond home trends are compared between 2016 and 2017, the following statistics can be seen:

Home Prices Continue to Rise in Redmond

Redmond 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%

• Averag...

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