Duke Warner Realty

Real Estate Market Trends: September 2023

The fall real estate market in Central Oregon is still buzzing with excitement and fast-paced activity. As we transition from the successful summer season, the momentum in this region’s real estate market continues to thrive. With Bend and Redmond leading the way, Central Oregon proves to be an exceptional area for buyers and sellers alike. Central Oregon’s real estate market has experienced remarkable growth throughout the summer, and this trend shows no signs of slowing down in the fall. As the school year begins, buyer and seller activity remains robust, showcasing the region’s desirability and ongoing demand. The popularity of Bend and Redmond as top locations in Oregon and the entire country further solidifies their status as attractive real estate markets. September witnessed positive trends in Central Oregon’s real estate market. Listings have increased, providing more options for buyers, while active participation from both buyers and sellers has contributed to a thriving marketplace. It is crucial for potential buyers and sellers to stay informed about these trends to make well-informed decisions. One notable change from previous years is the increase in active inventory, offering buyers a broader range of choices. This shift provides an excellent opportunity for buyers to find their ideal property in Central Oregon. Additionally, the stability in the mortgage industry has positively impacted housing prices and buyer confidence, further boosting the market’s overall stability. Sellers should not be discouraged by the rising inventory, as buyer demand in Bend and Redmond remains strong. The fall market presents diverse opportunities for both buyers and sellers to make their mark in this thriving region. Whether you are looking to sell and take advantage of high demand or secure your dream property, Central Oregon offers a fertile ground for success.

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.

Inventory / Active

last month -> 354

Avg Days on Market

last month -> 18

Average Sale Price to List Price

last month -> 99%

# of Homes Sold

last month -> 162

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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.

Inventory / Active

last month -> 167

Avg Days on Market

last month -> 12

Average Sale Price to List Price

last month -> 100.7%

# of Homes Sold

last month -> 71

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.

From Fall to Winter

The fall real estate market in Central Oregon is full of promise and possibility. With a successful summer season behind us, the positive trends in September, an increase in active inventory, and a stable mortgage industry, the outlook for buyers and sellers in this region is exceptionally encouraging. Stay updated on the latest listings and market changes to make the most of this vibrant market. Central Oregon’s fall real estate market is ripe with opportunities waiting to be seized.
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