fbpx

Duke Warner Realty

Real Estate Market Trends: Jun 2023

Yahoo summer!!! and the selling season has arrived. With the end of the school year in early June, the natural swing of real estate has been happening throughout Central Oregon. Here in Central Oregon the 2023 home selling season is well under way.  June brought out the buyers and sellers with many new listings hitting the market as well as leaving the market. Bend and Redmond continue to outpace other areas. With the economy and mortgage rates now about historically average, housing prices have leveled off a bit, but continue to remain strong so don’t that deter you sellers – buyers are coming out in droves this summer in Bend & Redmond.

June, while a bit slower than the rampant pace we’ve seen, was a solid a month for real estate. June solidified that message and seller as well as buyer activity hit the market. Bend and Redmond saw increases across almost all major statistics we track. It’s still important to keep an eye on these trends so that you know what’s happening and how it might affect your plans to buy or sell now and for the future. Furthermore, June brought a large increase in active inventory. Don’t believe us? Check the latest listings for Bend and Redmond, Oregon. As continual fluctuations of the mortgage industry, so price reductions across most properties. The residential statistics for Bend & Redmond did see a small increase in average list price to sale price and the same movement for number of days on market. Central Oregon continues to drive the fairly steady home market. Entering the summer months of 2023 home buying and selling, we are seeing increases and additional opportunities for both buyers and sellers.

Bend Market Report >>

Bend, with its thriving microbrew pub scene and abundant outdoor opportunities, remains one of the most sought-after places to live in the country. The allure of Central Oregon and its proximity to everything the region has to offer is simply unparalleled. Bend proper and the surrounding areas continue to be highly desirable for buyers. As we transition closer to spring, February brought some economic and seasonal changes. The average list price has experienced a slight softening due to the interest rates being twice as high as they were a year ago. However, this hasn’t dampened the enthusiasm of buyers who are still eager to call Bend home, resulting in a stellar 98% sale price to asking price ratio. Homes in Bend don’t stay on the market for long, typically selling within a five to eight-week timeframe, highlighting the high demand for properties in the area.

Inventory / Active

312 last month -> 269

Avg Days on Market

13
last month -> 28

Average Sale Price to List Price

99%
last month -> 99%

# of Homes Sold

180
last month -> 218

Ready to List Your Central Oregon Home?

Our roots in Bend began in 1967...

Redmond Market Report >>

Redmond is quickly emerging as a vibrant hub in Central Oregon and a fantastic place to live. With an increasing number of business opportunities springing up, more and more people are drawn to the area. While the inventory of available homes in Redmond experienced a slight decrease, there was a notable increase in the number of homes sold and the sale price. Despite fluctuations in mortgage rates, the area continues to achieve historical highs in terms of housing prices. The average sale price reached an impressive 99% of the asking price, which potentially offset the slight decline

Inventory / Active

147
last month -> 117

Avg Days on Market

22
last month -> 44

Average Sale Price to List Price

99.8%
last month -> 99%

# of Homes Sold

78
last month -> 67

July marks the peak of the summer season, and it is an exciting time for real estate in the region. With its stunning landscapes, outdoor recreational opportunities, and thriving communities, Central Oregon attracts many homebuyers and investors during this time.

Central Oregon experiences a surge in real estate activity during the summer months, as buyers take advantage of the warm weather and longer days to explore the area. The demand for properties increases, creating a competitive market for both buyers and sellers. Home prices tend to rise during this time, as more buyers are willing to pay a premium for a piece of their own Central Oregon escape.

July is on the Fly

July marks the peak of the summer season, and it is an exciting time for real estate in the region. With its stunning landscapes, outdoor recreational opportunities, and thriving communities, Central Oregon attracts many homebuyers and investors during this time.

Central Oregon experiences a surge in real estate activity during the summer months, as buyers take advantage of the warm weather and longer days to explore the area. The demand for properties increases, creating a competitive market for both buyers and sellers. Home prices tend to rise during this time, as more buyers are willing to pay a premium for a piece of their own Central Oregon escape.

This website uses cookies and asks your personal data to enhance your browsing experience. We are committed to protecting your privacy and ensuring your data is handled in compliance with the General Data Protection Regulation (GDPR).