Redmond Oregon Real Estate Trends

Found 16 blog entries about Redmond Oregon Real Estate Trends.

Real Estate Trends in Bend, Redmond, Sunriver and Prineville

Bend Oregon Real Estate TrendsWe 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

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Redmond Home Sales Strong

Redmond Oregon Real Estate TrendsWhile the upward trends for Bend single family home sales have slowed over the past few months, Redmond home sales have remained strong. Redmond, located just 17 miles north of Bend, has long been known as a great place to live, with homes priced well below that of Bend. People relocating to Central Oregon have discovered Redmond's value and home sales in this great town have taken off.

When June 2019 is compared with June 2018, the following changes can be noted for Redmond single family home sales on less than an acre:

  • Homes for sale down 2.5% to 230*
  • Homes sold up 8.2% to 106
  • Homes pended up 7.6% to 99
  • Average price per square foot up 4.3% to $195
  • Average days on market down 3.8% to 101
  • Sold to
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Redmond OR Real Estate Sales Continue Upward Trends

Redmond Oregon Single Family Home Sales

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*
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Numbers of Central Oregon Single Family Homes for Sale Up

Bend Oregon Real Estate

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 last two

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Redmond Real Estate Values Have Been Discovered!

Redmond OregonThe word is out and Redmond Oregon has been found to be a great town where people want to live. Often thought of as an affordable option to Bend, Redmond residents have tremendous pride in their town and enjoy the lifestyle of this wonderful Central Oregon community.

The August 2018 Redmond OR real estate statistics have been published and the amount of increase in the sales figures is significant. The following data compares August 2018 single family residential home sales on less than an acre with that from August 2017:

  • The numbers of homes for sale up 9% to 242*
  • The numbers of homes sold up 12.4% to 100
  • The numbers of homes pended up 23.9% to 109
  • The average price per square foot up
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Redmond Real Estate Sales Strong

Redmond Oregon Real EstateSingle 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
  • Average active price up 1.2% to $413,000
  • Average sold price unchanged at
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Redmond OR Home Prices Continue to RiseRedmond Oregon

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:

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Central Oregon Real Estate Home Prices Trending Up

Those who have lived longer than 5 years in Central Oregon have seen home prices rise at a rapid pace, especially in Bend and Redmond.  The average price for a single family residential home in Bend has risen over $200,000, the price for a Redmond home has more than doubled, Sisters homes are up 40% and Sunriver home prices have risen 22% in the last five years. 

Central Oregon real estate home prices

Our Predictions for Central Or Single Family Homes

The question can be asked, will Central Oregon home prices start to level off?  Have we reached the top? Obviously affordability for locals has been an issue for several years. But for new Central Oregon residents, the price for a Redmond or Bend single family home is extremely

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Home Prices Continue to Rise in Redmond

Redmond Oregon Homes for SaleRedmond 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%
  • Average active price up 1.4%
  • Average sold price up 8.1%
  • Months of inventory based on closed sales up 32.5% to 2.4 months
  • Average price per square foot on sold homes up 11.3%*

New Home Sales Are Strong

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Central Or Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon real estate prices October 2017

Central Oregon Single Family Home Inventory Levels Remain Low

During a short time during the summer months, Bend had an increase in the months of inventory for single family

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