Real Estate Market Trends: September 2023
Bend Market Report >>
Bend, as always is the place to be! With its thriving microbrew pub scene, delicious food, and abundant outdoor opportunities, it 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, September once again 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.
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 – the home building, buying, and selling continue at a great pace. Available homes in Redmond experienced the usual changes we see in the market described above, 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.
September marked the end of peak 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.