Duke Warner Trend Report for March 2020
Spring has arrived in Central Oregon and many residents have taken this time to get outside and enjoy the beauty that surrounds us here in the high Cascades. As we navigate the sudden changes in our community, with the COVID-19 virus at the top of everyone’s list of concerns, we continue to want to update our loyal followers with the market trends. 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 share can be an informative resource for any future trends you might see as we finish out April and head into May.
April 1st Inventory and March Activity
With 330 active listings as of April 1st, the Bend market has a nice variety of homes for those looking to buy. The number of active listings for Bend increased from last month, which is on-trend for this time of year, according to years past. Redmond’s active listings, as of April 1st, showed 164 homes overall. The numbers for both Bend and Redmond remained consistent in March and as we head into April, we are seeing the combined active listings for Central Oregon at 494 homes.
March numbers for the Redmond market show us 93 homes sold, 135 new homes on the market and 111 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing 44. The $225,000 – $325,000 had 18 active listings, the $425,000 – $525,000 range had 26 actives, and the $525,000 & up price range showed 32 active listings.
For Bend, the numbers in March looked much like January and February. There were 2 active listings in the $225,000-$325,000 range, 43 in the $325,100-$425,000 range, 36 in the $425,100 -$525,000 range and 21 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 29 active listings, the $725,000 – $825,000 had 15 actives and the $825,000 – $925,000 showed 24 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing 60 homes in the $925,100 & up price range.
In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. If you are selling your home and trying to price your property, 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 March, Bend had 187 pending homes and Redmond had 111. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Bend, there were 127 in February and 187 in March. In Redmond, we saw 52 sold listings in February and 93 in March.
Looking Ahead
As we embrace Spring 2020 and the plethora of changes due to the COVID virus, 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. Central Oregon is a beautiful place to live and no matter what stage of life you are in, there is something for everyone in the real estate market. 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.
