Real Estate Trends in Bend, Redmond, Sunriver and Prineville

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.

Housing Growth In Central Oregon Cities

While...

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Redmond Home Sales Strong

While 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...

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Redmond OR Real Estate Sales Continue Upward Trend

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%...

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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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