Redmond Or Real Estate Values Have Been Discovered!
The word is out and Redmond Oregon has been found to be a great town where people want to live. Often thought of as an affordable option to Bend, Redmond residents have tremendous pride in their town and enjoy the lifestyle of this wonderful Central Oregon community.
The August 2018 Redmond OR real estate statistics have been published and the amount of increase in the sales figures is significant. The following data compares August 2018 single family residential home sales on less than an acre with that from August 2017:
- The numbers of homes for sale up 9% to 242*
- The numbers of homes sold up 12.4% to 100
- The numbers of homes pended up 23.9% to 109
- The average price per square foot up 9.1% to $192
- The months of inventory based on closed sales down 4% to 2.4
- The average active price up 3.1% to $405,000
- The average sold price up 6.4% to $348,000
The difference between active sales prices and sold prices are coming closer; Redmond does not have the high end housing that Bend does and new construction in Redmond is being built in a price point that buyers want.
Will Redmond Oregon Real Estate Trends Continue Up?
The following chart looks at the past 14 months of Redmond real estate trends. The most significant figure is the line for pended home sales, especially that between July 2018 and August 2018. Given the recent growth in Redmond, we do not anticipate anything different in the next few months outside of the normal seasonal slowdown.
*Data from Central Oregon MLS. Original blog can be read at Bend Premier Real Estate.