January 2024 Real Estate Trends
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
233
last month -> 273
Avg Days on Market
52
last month -> 40
Average Sale Price to List Price
98%
last month -> 99%
# of Homes Sold
90
last month -> 92
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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
158
last month -> 152
Avg Days on Market
61
last month -> 49
Average Sale Price to List Price
98%
last month -> 95.4%
# of Homes Sold
38
last month -> 31
As January 2024 unfolds, we bid farewell to the real estate season of 2023 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 is Around the Corner
As we embrace Spring in Central Oregon, 2024 heralds a promising season for the region’s real estate market. The transition from fall and winter allows both buyers and sellers to anticipate a positive outlook in the coming months. The trends witnessed in November, including an increase in available inventory and mortgage industry stability, pave the way for favorable market conditions.
Maximizing the abundant opportunities in the market requires staying informed about the latest listings and keeping a close eye on any shifts in the market. Central Oregon’s Spring real estate market reveals an exciting array of possibilities for those seeking their ideal real estate opportunity in this captivating region. With the promise of the Spring season ahead, it’s an ideal time to take advantage of the ripe Central Oregon real estate market.
