Real Estate Market Trends: June 2022
The market continues to react to an ever-changing economy, yet Central Oregon continues to do better than other areas around the state and country. The residential statistics for Bend & Redmond did see some declines again in list price, but saw gains in average sale price and a stark reduction of time on the market. Being a very desirable market has certainly favored the seller. Now mid way through peak season for home buying and selling, we saw a small growth in the number of active listings compared to the prior month in Bend and for the Redmond area.
Bend Market Overview >>
The market has been shifting, however, Bend and Central Oregon for that matter is still a hot market. June saw another increase of inventory into the mid 300s for active listings. The average list price continues to soften a bit with interest rates rising, yet buyers are still itching to live in Bend and sale price was a stellar 100% of asking. The average home isn’t lasting long in the Bend market as they’re still selling within a two week time frame!
Inventory / Active
357
last month -> 269
Avg Days on Market
12
last month -> 28
Average Sale Price to List Price
100%
last month -> 98%
List Price Change
-6.16%
last month -> -5.78%
Be sure to download Bend’s complete report above for more in depth real estate statistics aggregated by our amazing team of brokers. The complete report include Bend’s residential, land and acreage market statistics.
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Redmond Market Overview >>
Inventory in Redmond held steady comparative to last month with a slight increase. keeping it a very strong real estate environment as shown by the numbers. The average sale price stayed about 100% helping offset the small decline in list price. The area’s land and acreage market saw a consistent reduction following suite with the previous months as material costs and availability continue to be a concern. Be sure to download Redmond’s complete report above.
Inventory / Active
113
last month -> 96
Avg Days on Market
11
last month -> 24
Average Sale Price to List Price
100.9%
last month -> 102%
List Price Change
-5.23%
last month -> -2.06%
Even with mortgage rising and the economy slowing, we are still seeing the fast-paced buying and selling for the Bend and the Central Oregon market overall. Buyers, both local and from out of town, are looking for the opportunity to live in Central Oregon. If you are considering selling your home and determining the price, we encourage you to consult with our trusted Duke Warner Broker for local, expert advice. Sharing their experiences, knowledge and excitement, our brokers know how to price properties according to the market trends and current housing competition. Better yet, they know how to sell them!
Mid Summer Update
June has come and gone and July marks the midsummer swing for the real estate peak season. If you’re looking buy a home and or sell your home this season we’re here to help! Since 1967, we’ve been fortunate enough to assist others live the Central Oregon dream through real estate. Our team of expert Brokers to guide you on what ever real estate path you choose. Give us a call (541) 382-8262 or send an email at info@dukewarner.com to get the processed to started!
