December 2023 Real Estate Trends
While December didn’t quite bring the snow we’re accustomed to, it did bring many other gifts to Central Oregon. With 2024 now here, it’s the dawn of a new real estate year, so let’s take a look at how 2023 ended. Whether you’re in the business or in the market, it’s important for real estate enthusiasts to stay up-to-date with the latest market trends and insights. In this post, we will delve into the December real estate market in Bend and Redmond, Oregon with the goal of providing you with valuable information on land, acreage, and housing activity.
Central Oregon, celebrated for its stunning natural beauty and wide range of outdoor pursuits, has witnessed a flourishing real estate market in recent times. In this assessment, we will thoroughly examine the most up-to-date data and reports to uncover the key influences on the dynamics of the real estate market in this picturesque region.
The Central Oregon real estate market has exhibited remarkable strength and development from Bend to Redmond, and from Sisters to Prineville, even during challenging economic times. For homeowners, investors, or potential buyers, keeping up-to-date with the current trends and forecasts is essential to make well-informed decisions in this thriving real estate market. So let’s explore and discover what December has in store for this thriving region.
Bend Market Report >>
Situated at the heart of Central Oregon, Redmond is swiftly establishing itself as a vibrant hub and an exceptional place to reside. The city’s promising business prospects are drawing an increasing number of individuals, resulting in a flourishing real estate market. Building, buying, and selling homes in Redmond continue to progress at an impressive pace.
Although Redmond experienced some typical seasonal market fluctuations, there was a notable surge in both the quantity of homes sold and their corresponding sale prices. Despite occasional variations in mortgage rates, the region consistently achieves record-high housing prices, with the average sale price in Redmond reaching an impressive 99% of the asking price. This highlights the enduring demand for properties in the area.
Inventory / Active
273
last month -> 309
Avg Days on Market
40
last month -> 50
Average Sale Price to List Price
99%
last month -> 98%
# of Homes Sold
92
last month -> 105
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Redmond Market Report >>
Redmond, located at the center of Central Oregon, is rapidly emerging as a dynamic hub and an exceptional place to call home. The city’s promising business opportunities are attracting an increasing number of individuals, making it a thriving real estate market. Home building, buying, and selling in Redmond continues to progress at an impressive pace.
Although Redmond experienced some typical market fluctuations, there was a remarkable uptick in both the volume of homes sold and their respective sale prices. Despite occasional shifts in mortgage rates, the region continues to attain record-high housing prices, with the average sale price in Redmond reaching an impressive 99% of the asking price, underscoring the consistent demand for properties in the area.
Inventory / Active
152
last month -> 173
Avg Days on Market
49
last month -> 40
Average Sale Price to List Price
95.4%
last month -> 95.9%
# of Homes Sold
31
last month -> 39
As the real estate season of 2023 draws to a close, December ushers in the transition from the cozy embrace of fall to the new year and winter months, creating an enchanting period for the region’s real estate market. Central Oregon, renowned for its awe-inspiring landscapes, abundant outdoor recreational opportunities, and thriving communities, continues to captivate homebuyers and investors who yearn to immerse themselves in the season’s beauty.
Fall has bid farewell, the real estate activity in Central Oregon undergoes a shift. Although the market may experience a slight deceleration compared to the bustling summer season, the demand for homes remains steadfast. This presents an opportunity for both buyers and sellers to navigate a market with slightly reduced competition, paving the way for more thoughtful decision-making and increased negotiating power.
During this time, home prices and activity in Central Oregon tend to stabilize, providing potential buyers with a chance to discover their dream home at a more favorable price point and without such urgency. For astute buyers who can embrace the enchanting winter charm of the region, winter proves to be an advantageous season to enter the Central Oregon real estate market and secure their own piece of this captivating area as the year comes to a close.
2024 Is here, whats next
As we enter the year 2024, the Central Oregon winter real estate market presents immense promise and potential. With the transition from fall behind us, both buyers and sellers can anticipate a positive outlook for the region. The trends observed in November, such as an increase in available inventory and stability in the mortgage industry, contribute to the favorable market conditions that lie ahead.
To fully capitalize on the opportunities within this ripe market, it is crucial to stay informed about the latest listings and remain attentive to any shifts in the market. Central Oregon’s winter real estate market unveils a wide array of exciting possibilities, eagerly awaiting those who seek their ideal real estate opportunity in this captivating region.
