Redmond OR Real Estate | April Trends

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

In 2015, Redmond had 4 months of supply of single family homes, all price points, and on less than an acre of land. In 2016, this figure had lowered to 2.9 months and in 2017, we are at 2.3 months of supply.  A healthy and balanced market is considered 6 months of supply.

Directly impacted by the months of inventory is the average sales price. Since 2015, the price of a single family home in Redmond on less than an acre of land has gone from $223,152 to $285,830 - more than 10% increase each year.

The question remains - how high can prices go in Redmond? Is the increase in price sustainable? Redmond has always been a more affordable option than Bend, but are we reaching a place where Redmond residents are priced out of their housing market? We will continue to follow these trends throughout 2017.

 

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

  

 

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Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lynnea,

We were just talking to our client back East who works in communities that commute to NYC.  She is further out, and the boom is heading her way where it is a further communte to NYC, and more affordable.  She is figuring it will take a year or two to get there.  A

May 31, 2017 10:25 AM #1
Rainmaker
1,263,152
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thank you for posting this useful information about your market.

May 31, 2017 02:09 PM #2
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

A buyer's market indeed, Lynnea. There is no time to think on it and come back next week with an offer. Serious buyers know that.

Jun 04, 2017 05:21 PM #3
Rainmaker
5,502,299
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Jun 05, 2017 06:33 AM #4
Rainmaker
529,540
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

When prices go up that fast you do wonder. Now if only the supply would last.

Jun 06, 2017 09:23 PM #5
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Rainmaker
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Lynnea Miller

Premier Real Estate Service in Central Oregon
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