Home Sales in Redmond Oregon
Real estate sales continue to be strong in Redmond. Despite our difficult winter, data from the Multiple Listing Service of Oregon show that Redmond home prices continue to rise and that housing demand is high. Comparing February 2016 statistics with 2017, the following can be noted:
- The average active home price is up 9.5% to $392,000
- The average sold home price is up 23.9% to $301,000
- The average price per square foot on sold homes is up 18.3% to $168 - the highest figure in 10 years.
There remains a shortage of available homes with only 1.8 months of inventory based on pended sales, down 36.1% from January 2017.
Redmond has historically been considered a more affordable option for Central Oregon home buyers, but at the current rate of home value increase, home buyers may also find that Redmond is becoming too expensive for many.
This original blog can be viewed at Bend Premier Real Estate's blog.