Fall temperatures have arrived in Central Oregon but Bend’s real estate market
remains brisk with the number of active listings up by over 20% from last month, while pending and sold properties are winding down from the torrid pace over the summer months. The real estate trends continue to be strong due to many homebuyer’s abilities for remote working and where many are able to upscale their lifestyle as compared to urban metropolitan areas. In Duke Warner Realty’s monthly Trend Reports we offer
valuable insights by analyzing last month’s real estate market activity in Central Oregon. This information can be a beneficial resource for any upcoming or changing
trends we might see during the fourth quarter of 2021.
October 1 Inventory and September Activity
With 291 active listings as of October 1, the Bend market saw a 20% increase in available listings, up from 242 from the previous month. Pending homes were at 233, down from 263 from the previous month but homes still continue to sell at an impressive pace, leaving homebuyers empty-handed and ready to buy on the spot. Now is an excellent time for a homeowner who might otherwise wait until later this fall to list a home for sale. Both Bend and Redmond’s current listings, although beginning to recover, are being snapped up very quickly with average days on market at only 17 days and 12 days respectively. Redmond’s active listings as of October 1, showed 94 homes, down from 97 in the previous month. As we progress to the winter selling season, we see the combined active listings for Central Oregon at 385 homes.
September numbers for the Redmond market shows us 97 homes sold, 86 new homes on the market and 87 homes pending. The bulk of active homes on Redmond’s market remain in the $525,000 & up price range, showing 44. The $225,000-$325,000 had only two active listings, the $425,000-$525,000 range had 32 active listings and the $325,100-$425,000 price range showed 16 active listings.
For Bend, the numbers in September continued to illustrate a market with relatively low inventory. There were no active listings in the $225,000-$325,000 range, and three in the $325,100-$425,000 range, 23 in the $425,100-$525,000 range and 54 in the $525,100-$625,000 price range. The $625,000-$725,000 had 50 active listings, the $725,000-$825,000 had 37 actives and the $825,000-$925,000 showed 35 active homes listed. As you can see from our Market Trend Report, there was an increase in homes available in the higher price ranges, showing 89 homes in the $925,100-and-up price range. For Central Oregon overall, the supply and demand are not equally matched as more out-of-state buyers eagerly attempt to relocate to our beautiful area. It truly is an unmatched seller’s market for those homeowners considering selling their property for top value.
With a fast-paced market, buyers often look for competitive pricing as they consider properties. If you are selling your home and trying to price your property, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their experience, knowledge and excitement while they work for you. Our Duke Warner brokers know how to price properties according to the
market trends and current housing competition.
Sold and Pending Listings
Bend had 233 pending homes in September down from 263 in August. These numbers still showcase the need for more listings to keep up with the demand to buy a new home in Central Oregon. For sold listings in Bend, there were 235 in September as compared to 231 in August. In Redmond, we saw 97 sold in September down from 109 sold in August. History in the making as we continue to see real estate needs escalating
in the Bend and Redmond real estate market!
Many of us know and value this special place we call home. Central Oregon is a
beautiful place to live and no matter what stage of life you are in, there is something for
everyone in the real estate market. As you consider your housing needs, start to plan
and look ahead, whether you want to buy or sell a home, keep us in mind for your real
estate ventures. Our professional brokers are here to offer great insights as you navigate
your next home experience. Give us a call today and let us help you get started! We can
be reached at (541) 382-8262 or send us an email at info@DukeWarner.com.