Duke Trend Report for Bend & Redmond September 2018
We have seen positive consistency in the market this fall, for both Bend and Redmond. The trends in September stayed close to the same that we saw in August with a few exceptions. Fall has proven to be a great time to buy and sell a home and lucky for you, the market has a great variety to choose from.
The number of active listings came down slightly, but not by much. We saw 634 active listings in August and in September there were 583 active listings in the Bend market. In Redmond, we saw 254 active listings in August and the inventory came down a bit with 221 active listings in September. The numbers for Redmond show us that there are still plenty of homes to choose from, showing most of the listings, 81, in the $225,100-$325,000 price range. 47 of those 81 homes were new listings in September. In Bend, the most inventory lands in the price range of $325,100-$425,000, with 156 active listings. 46 of those 156 are new homes on the market as of September. Both Bend and Redmond’s market had fewer price reductions in September than we saw in August and slightly fewer pending homes as of September 30th for both cities.
It is still very important for home sellers to keep their 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 from August to September in both Bend and Redmond markets. For Redmond, we saw 110 pending in August and 104 in September. Bend had 257 pending homes in August and it dropped a bit to 220 pending in September. For sold listings, August gave us impressive numbers with 260 in Bend and 101 in Redmond. While there are still plenty of homes on the market, Bend had 195 sold listings in September and Redmond had 86. We see a fluctuation in the market which is normal for this time of year. Summertime is over, schools are back in session and people are winding up for the holidays. But don’t let this discourage you from listing or buying a home, the market has some amazing options available in all price ranges.
As we watch the leaves change and witness the weather cooling down, we are still encouraged by the number of active listings, for buyers and sellers alike. Fall 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!