Duke Trend Report for Bend & Redmond for October 2018
A positive and consistent market continues as the fall rounds out and winter is on the horizon. The trends for October are very similar to September with a few differences. This fall has been an active time in Bend and Redmond for sellers and buyers alike. Although the weather is changing, that market remains steady with a great selection of homes to choose from.
Inventory
The number of active listings came down slightly, but not by much. In Bend, we saw 583 active listings in September and 553 in October. In Redmond, there were 221 active listings in September and 223 in October. The numbers for Redmond show us that there are plenty of homes to choose from, showing most of the listings, 76, in the $225,100-$325,000 price range. 39 of those 76 homes were new listings for October. In Bend, the most inventory lands in the price range of $325,100-$425,000, with 147 active listings. 43 of those 147 are new homes on the market just in October. Both Bend and Redmond’s market had fewer price reductions in October than we saw in September and slightly fewer pending homes as of the end of October, for both cities.
It is still very important for home sellers to keep pricing competitive. Keep in mind buyers look for the competitive pricing as they compare properties. If you aren’t sure what to list your home or property for, consult with your Realtor for great advice, often they will share their expertise and let you know how to price according to the market and competition.
Sold and Pending Listings
As mentioned above, the number of pending listings dropped slightly in October from September, in both Bend and Redmond markets. For Redmond, we saw 104 pending in September and 85 in October. Bend had 220 pending homes in September and it dropped a bit to 189 pending in October. For sold listings, September gave us impressive numbers with 195 in Bend and even more in October, at 222. Sold listings in Redmond stayed consistent with 86 in September and 89 in October. We aren’t seeing much of a fluctuation in the market which is great for this time of year. Fall is almost over, people are winding up for the holidays and there seems to be continued buzz in the market regardless of the weather changing to colder days.
Looking Ahead
As we watch the trees become bare, scrape ice off our windows in the mornings and start our lists for the holidays ahead, we are encouraged and excited with the number of active listings, for buyers and sellers alike. Fall and winter can be a great time to shop for homes because life has slowed back down from the summer buzz and routine allows you some time to compare properties and gather as much information 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 Realtors to show you around!