Home Prices Continue to Rise in Redmond Oregon
Redmond Oregon single family home sales continue to show strength as we move toward the end of 2017. Although we see the normal seasonal reduction in inventory and slow down in new purchase agreements, the increase in Redmond home prices persists and the demand for housing remains robust.
When data from November 2016 is compared with November 2017, the results for Redmond OR single family homes sales are as follows:
- Homes for sale up 9.8%
- Homes sold down 15.7%
- Homes pended down 1.4%
- Average active price up 1.4%
- Average sold price up 8.1%
- Months of inventory based on closed sales up 32.5% to 2.4 months
- Average price per square foot on sold homes up 11.3%*
New Home Sales Are Strong In Redmond Oregon
Builders are actively producing new homes in Redmond; 302 new single family homes have been built in Redmond so far in 2017, 79% of which have been sold or are in pending status. Buyers are enjoying the opportunities Redmond can offer with more affordable homes than those available in Bend. However, the demand is leading to increased prices with the average price per square foot in Redmond now at $178. Given the average price per square foot for single family homes in Bend is now at $228, Redmond is still the economical option for the two largest cities in Central Oregon.
* Data per Central Oregon MLS
Original blog can be seen at Bend Premier Real Estate's blog page.