Redmond OR Real Estate Sales Continue Upward Trends
Redmond single family home sales on less than an acre are still showing growth. Unlike Bend where the September data showed a decline compared with a year ago, Redmond Oregon home sales figures for September are up. The following compares Redmond single family home sales from September 2018 with September 2017:
- Numbers of homes for sale up 2.7% to 224
- Numbers of homes sold up 4.9% to 86
- Numbers of homes pended up 2.4% to 84
- Average price per square foot on sold homes up 8% to $190
- Average number of days on market down 9.3% to 98
- Months of inventory based on closed sales unchanged at 2.7
- Average active price up 4.9% to $403,000
- Average sold price up 6.5% to $344,000*
Will Redmond Real Estate Sales Slow?
At the present time, the trends reflect a continued strong market in Redmond. With Central Oregon still experiencing high in-migration from other states, the value of available homes for sale in Redmond has been discovered. The same home in Bend would be priced at least $100,000 more than Redmond and with only a 20 minute drive between the two cities, home buyers in Central Oregon are often making the decision to purchase in Redmond and commute to Bend for work. Until Central Oregon's growth slows, we believe Redmond will continue to have strong real estate sales.
*Data from Central Oregon MLS.
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