Duke December 2018 Trend Report
As we settle into what appears to be a rather mild winter, we continue to see a steady market in the Central Oregon Real Estate scene. The trends for December show a continuation of a steady market in both Redmond and Bend. We closed out 2018 with an active market in Bend and Redmond for sellers and buyers alike. As we begin the new year, we see steady numbers across the board and look forward to an exciting year with the Central Oregon market.
Inventory
The number of active listings in Bend dropped slightly from 457 in November to 398 in December. In Redmond, there were 199 active listings in November and then a few less with 182 active listings in December. The numbers in December for Bend show us that there are plenty of homes to choose from. There were 20 active listings in the $225,000-$325,000 range, 97 in the $325,100-$425,000 range, 102 in the $425,100-$525,000 range and 41 in the $525,100-$625,000 price range. Both Bend and Redmond’s market had fewer price reductions in December than we saw in November and fewer pending homes at of the end of December, for both cities. Redmond’s new, active listings increased slightly from 58 in November to 59 in December.
With the steady market, buyers look for competitive pricing as they compare properties. If you are a seller and you aren’t sure what to list your home or property for, consult with your Duke Warner Broker for great advice, they will share their expertise and let you know how to price according to the market and competition.
Sold and Pending Listings
The number of pending listings dropped slightly in December from November, in both Bend and Redmond markets. For Redmond, we saw 58 pending homes in November and 46 in December. Bend had 163 pending homes in November and it dropped a bit to 137 pending in December. For sold listings, we’ve seen a slight drop during the winter months with November showing 170 sold homes in Bend and 160 sold in December. Sold listings in Redmond dipped from 73 in November to 63 in December. We aren’t seeing too much of a fluctuation in the market which is great for this time of year. Winter is in full swing; the holidays are behind us and we start the new year with a renewed sense of excitement for future market trends.
Looking Ahead
2018 market trends were consistent and encouraging, which paves the way to hopefulness for the new year in the Central Oregon markets. Be sure to take time to compare properties and gather as much information as necessary to make educated decisions about the market. Get out and see what’s available and give us a call if you’d like one of our brokers to show you around! There is a wonderful selection of bare land, residential properties as well as commercial properties.