October 2023 Real Estate Trends
As we moved through October, we witnessed the Central Oregon real estate market is still holding strong and thriving with activity. The remarkable growth of the market throughout the summer shows little signs of slowing down, even with wavering interest rates. Each month has proven a sustainable time for buyers and sellers. Bend and Redmond, which have consistently topped the list of most attractive real estate markets in Oregon and the country, continue to lead the way.
The start of the school year has done little to dampen the robust buyer and seller activity, a testament to the region’s desirability and ongoing demand. Potential buyers and sellers should make it a priority to stay informed about the real estate trends in Central Oregon to make well-informed decisions.
One significant change from previous years is the rise in active inventory, offering buyers an extensive range of available choices. This shift creates an excellent opportunity for buyers to find their ideal property in Central Oregon. With the stability in the mortgage industry positively affecting housing prices and boosting buyer confidence, the market’s overall stability improves.
Sellers should not be discouraged by the rising inventory or mortgages rates, as buyer demand in Bend and Redmond remains strong. The fall market, consequently, creates diverse opportunities for buyers and sellers to capitalize on the thriving real estate in Central Oregon. Whether you are looking to buy or sell in this dynamic market, now is the time to take advantage of the opportunities available.
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Redmond Market Report >>
Redmond is swiftly establishing itself as a dynamic central point in Central Oregon and a fantastic place to call home. The rising number of business opportunities in the area is attracting a growing population, resulting in a thriving real estate market. Home building, buying, and selling in Redmond continue at an impressive pace.
While Redmond experienced familiar market fluctuations, there was a notable increase in both the number of homes sold and their sale prices. Despite occasional shifts in mortgage rates, the region consistently achieves historical highs in housing prices. In fact, the average sale price in Redmond reached an impressive 99% of the asking price, reflecting the strong demand for properties in the area.