Duke Warner Trend Report for April 2020
With Summer right around the corner, now is the perfect time to review the latest data on home purchasing trends in Central Oregon. The weekend family drive often takes potential homebuyers into neighborhoods in the surrounding areas. As we continue to monitor the COVID related changes to our community, we want to put everyone’s mind at ease and realize the housing market is still doing exceptionally well and you can depend on Duke Warner Realty to deliver the most recent data as it pertains to real estate in Central Oregon. Our monthly Trend Reports offer valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we provide is intended be an informative resource for any future trends in real estate. As we anticipate a strong May and move into the summer month of June here are our latest findings.
May 1st Inventory and Looking Ahead
More active listings were implemented in April vs. March with 446 active and 193 new listings in the Bend market with a wide range of pricing provides a pleasant variety of homes for those looking to purchase a new home this summer. Closing out the month of April proved the number of active listings for Bend increased from month-end in March which was listed at 375. March had a slight increase over April for new listings coming in at 244 vs. 193. Based on past trend data we are right on par for this time of year. Redmond’s active listings, as of May 1st showed an increase from 178 homes overall in March to 215 active listings. As well as the Bend market the number of new listings in Redmond as of May 1st declined slightly to 83 vs. March’s 134. The count for both Bend and Redmond remained consistent in April and as we move through May we are seeing the combined active listings for Central Oregon increased to 661 homes.
Month-end April statistics for the Redmond market show us 79 homes sold, 83 new homes on the market and 73 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing an increase from last month to 90 homes. The $225,000 – $325,000 also had a jump to 41 active listings, the $425,000 – $525,000 range also continued to increase to 42 active listings, and the $525,000 & up price range climbed up to 39 active listings.
For Bend, the numbers in April had a noticeable increase in active listings for the entire first quarter of 2020. There was a marginal decrease in new listings for February and March but increased from January new listings. There was a jump to 12 active listings in the $225,000-$325,000 range, a sizeable jump to 101 in the $325,100-$425,000 range, another large increase of 76 in the $425,100 -$525,000 range and an increase to 51 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 43 active listings, the $725,000 – $825,000 had 45 actives and the $825,000 – $925,000 showed 31 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing more homes listed in the $925,100 & up price range jumping to 87.
In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. With interest rates the lowest we have seen in decades, now if the perfect time to buy or sell your home. Whether you are buying or selling your home, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and deep market knowledge while they work for you.
Sold and Pending Listings
In April, Bend had 141 pending homes and Redmond had 73. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Redmond, there were 93 in March and 79 in April. In Bend, there were 189 sold listings in March and 171 in April.
Looking Ahead
As we look ahead to the summer real estate market, we want to remind you that our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. With record low interest rates and a variety of homes from which to choose, Central Oregon is a beautiful place to call home and establish roots. Whether you are buying for the first time, upgrading, downsizing, the Central Oregon real estate market has the perfect home for everyone. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our wonderful team knows how to price properties according to the market trends, and our love of the industry is reflected in our willingness to work hard for our clients.
Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.