February 2024 Real Estate Trends
Even with an extra day February 2024 came and went! As we enter the new year, Central Oregon’s real estate market is showing great promise. With February bringing new snowfall, the previous month proved to be a boom for the region. It’s essential for industry professionals and prospective buyers alike to stay on top of market trends and insights in order to navigate the real estate landscape successfully.
Our trend reports are an invaluable resource for those interested in real estate activity in Bend and Redmond during February. Central Oregon, known for its stunning natural scenery and abundance of outdoor activities, boasts a thriving real estate sector. Using the latest data and reports, we carefully analyze the primary factors influencing the real estate market in this picturesque region.
Despite some economic challenges, the Central Oregon real estate market has shown exceptional resilience and growth across Bend, Redmond, Sisters, and Prineville. Homeowners, investors, and buyers are advised to keep up to date with current trends and forecasts to make informed decisions in this flourishing market. Come with us as we explore what December brought to this thriving region.
Bend Market Report >>
Located in the heart of Central Oregon, Bend is rapidly establishing itself as a vibrant city and an exceptional place to call home. With its promising business opportunities, more and more individuals are being drawn to Bend, resulting in a thriving real estate market. The construction, purchase, and sale of homes in Bend continue at an impressive pace.
While experiencing some typical seasonal fluctuations, Bend has seen a notable increase in both the number 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 Bend reaching an impressive 98% of the asking price. This clearly demonstrates the enduring demand for properties in the area.
Inventory / Active
227
last month -> 233
Avg Days on Market
62
last month -> 52
Average Sale Price to List Price
99%
last month -> 98%
# of Homes Sold
111
last month -> 90
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Redmond Market Report >>
Redmond, located in the heart of Central Oregon, is quickly establishing itself as a vibrant center and an exceptional place to settle. With its promising business prospects, more and more people are being attracted to Redmond, resulting in a thriving real estate market. The construction, purchase, and sale of homes in Redmond are happening at an impressive speed.
Despite experiencing the typical fluctuations of the market, Redmond has seen a remarkable rise in both the quantity of homes sold and their corresponding sale prices. Despite occasional shifts in mortgage rates, the region consistently achieves record-breaking housing prices, with the average sale price in Redmond reaching an impressive 99% of the asking price. This underlines the enduring demand for properties in the area, making Redmond an appealing destination in the Central Oregon real estate market.
Inventory / Active
152
last month -> 158
Avg Days on Market
72
last month -> 61
Average Sale Price to List Price
99.1%
last month -> 98%
# of Homes Sold
72
last month -> 61
Hello 2024! We proudly welcome the real estate season to come and embrace the magical winter months in Central Oregon. Known for its breathtaking landscapes, abundant outdoor activities, and thriving communities, the region continues to entice homebuyers and investors seeking to immerse themselves in the beauty of the season.
With the transition from the cozy embrace of fall to the new year, the real estate market in Central Oregon undergoes a shift. While it may experience a slight deceleration compared to the bustling summer season, the demand for homes remains strong. This presents an opportune moment for buyers and sellers, as the market experiences reduced competition, enabling more thoughtful decision-making and increased negotiating power.
Winter brings stability to home prices and activity in Central Oregon, creating a favorable environment for potential buyers. It offers the chance to explore and uncover one’s dream home at more attractive price points, without the urgency witnessed in other seasons. For astute buyers who embrace the enchanting charm of winter in the region, this season proves advantageous to enter the Central Oregon real estate market and secure their own piece of this captivating area as the year draws to a close.
Spring Into Central Oregon Real Estate
As Spring blooms in Central Oregon, 2024 brings a season filled with promise for the region’s real estate market. With the transition from fall and winter, both buyers and sellers can look forward to a positive outlook in the months to come. November’s trends, including a rise in available inventory and stability in the mortgage industry, set the stage for favorable market conditions.
To make the most of the abundant opportunities in the market, it’s crucial to stay informed about new listings and closely monitor any shifts in the market. Central Oregon’s Spring real estate market presents an exciting array of possibilities for those in search of their dream property in this captivating region. With the promise of the Spring season ahead, now is the ideal time to seize the ripe opportunities in the Central Oregon real estate market.
