Redmond Oregon Real Estate Trends | 2015-2017

By
Real Estate Broker/Owner with Bend Premier Real Estate 200009031

Central Oregon is known for its largest city - Bend -  and we focus a lot of our efforts in watching real estate trends for Bend. However, the nearby communities to Bend are also important to our clients and we often represent both buyers and sellers in Redmond, Oregon which has also grown considerably over the past 10 years. Although typically a more affordable option than Bend, Redmond single family residential real estate trends have followed Bend over the past two years with lack of inventory and escalating prices. The following data is from Central Oregon MLS through January, 2017: 

  • Average active price 2015 - $284,000      2017 - $370,000   Up 30.3%
  • Average sold price  2015  - $221,000      2017 - $298,000   Up 34.8%
  • Average price per sq ft 2015 - $121         2017 - $167          Up 38%
  • Months of Inventory (closed sales)  2015 - 4.3   2017 - 2.4    Down 44.7%
  • Number of homes for sale Jan 2015 - 153  2017 - 117           Down 22.2%
  • Number of homes sold Jan 2015 - 36        2017 - 49              Up 36.1%

Just like Bend, Redmond is currently experiencing a lot of demand with little inventory. And although new construction is being built in Redmond, it is also being sold very quickly. Pending a major national issue, we don't anticipate any true relief for the housing shortage in Redmond during 2017.

 

Original blog can be seen at Bend Premier Real Estate's blog page.

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Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Lynnea

Those are some pretty impressive shifts in the housing stats for Redmond and something buyers and sellers should be aware of so they better understand the local market and its impact on their decisions about buying or selling.

Jeff

Feb 20, 2017 04:39 PM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families moving to the area will certainly appreciate your local real estate market reports.

Feb 21, 2017 04:02 AM #2
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Lynnea.  Thanks for keeping us updated with the Redmond Oregon real estate market.

Feb 21, 2017 05:39 AM #3
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Friday morning, Lynnea. Have a great day and an outstanding weekend.

Feb 24, 2017 07:03 AM #4
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Lynnea Miller

Premier Real Estate Service in Central Oregon
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