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Duke Warner Trend Report for July 2020

While our Central Oregon summertime may be starting to wind down which is typically an indicator of a much slower real estate pace this year it is anything but easing up. The real estate market in Central Oregon is continuing to play out at an unprecedented frenetic pace. The agents at Duke Warner Realty are receiving more new buyer referrals in recent days than ever in the same amount of time. Our agents are showing homes for sale to several new (mostly) out-of-state buyers who are visiting Bend specifically to identify a property to purchase. The home buyers’ high level of motivation and advance preparation exceeds the typical buyer who initiates their search by casually visiting Bend to explore, learn, and determine where they want to continue to investigate for a future opportunity. In fact, these home buyers are showing up with cash, pre-approval letters, checkbooks, and are ready to buy immediately. In many cases the outcome results with being outbid on homes and/or not being able to find a suitable and appealing property because inventory is lower than it has been in 13+ years. Additionally, many of the Duke Warner Realty listings have gone pending within a couple days of hitting the market. Some listings are selling for nearly 20% over asking price. In fact, some sellers decide to leave town to accommodate the back-to-back volume of showings. We have found this sentiment is being expressed by other local brokers this summer with no slow down in sight. Our market trend report offers valuable insight into last month’s activity, which is a great resource for upcoming trends we anticipate for the unforeseeable future.

August 1st Inventory and July Activity

With 297 active listings as of August 1st, the Bend market is experiencing the lowest inventory levels we have seen in over 13+ years with less than one month’s worth of inventory of available homes for sale.

This number is lower than it ever has been in Bend. Previously, June broke the record for the most pending transactions within a one-month period. July has crushed that record. Which is also seen by the record setting 318 closed Bend sales in July, the first time we have seen over 300 homes close in a month. The previous record with 261 pending homes in a one-month period was 13 years ago.

Buyers are becoming frustrated that they cannot find what they are looking for and are frequently being outbid. Our agents are continually on the lookout for the next opportunity on the chance it might be a match for our clients. Now is not the time to chance a novice real estate agent or novice real estate agency.

Redmond’s active listings as of August 1st showed 179 homes overall showing the combined active listings for Central Oregon at 476. Redmond sold 100 homes in July and offered 146 new homes on the market and 194 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing 78. The $225,000 – $325,000 had 17 active listings and the $525,000 & up price range showed 42 active listings.

For Bend, the numbers are record breaking! There were only 2 active listings in the $225,000- $325,000 range, 54 in the $325,100-$425,000 range, 61 in the $425,100-$525,000 range and 33 in the $525,100-$625,000 price range. We are showing 69 active homes in the $925,100 & up price range.

To add to the explosive market in Bend, the median price broke the $500k barrier all the way to $529,000. While it may be anomalous due to July’s sales being predominantly high dollar homes, it also reflects the number of available homes from $325k-$425k in July which was half of the count from May. Nevertheless the $529k figure is newsworthy for home buyers and sellers, alike.

With a frenzied, thriving real estate market in Central Oregon, and shockingly less inventory than last summer, it is truly an unprecedented sellers’ market. If you have considered selling your home for top investment return, there is no better time than now! If you want your home sold within days and for maximum market value, we encourage you to consult with your trusted Duke Warner Broker for expert advice. Our brokers will work tirelessly to advocate for you in the hottest real estate market on record

Sold and Pending Listings

Bend had 343 pending homes in June, and 372 in July. For sold listings, there were 225 in June and 318 in July. In Redmond, we saw 96 sold listings in June, and 109 in July. We continue to see prodigious numbers never seen in the Central Oregon real estate market!

Looking Ahead

As many of us know and appreciate, Central Oregon is a special place to live. Both Bend and Redmond markets are on fire as we move into the fall season. As you consider your options and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate needs. Our professional brokers can offer great insights as you navigate your next home experience. Give us a call today and let us help you get started! Because you cannot fake experience. 541.382.8262 or send us an email at info@dukewarner.com.

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Duke Warner Trend Report for June 2020

Living in Central Oregon certainly has its advantages. Beautiful lakes, crystal clear rivers, abundance of sunshine, great craft breweries, sunshine (did we mention this previously?), and a bustling real estate market. If you have ever considered leaping into homeownership in Bend, OR, there is no better time than the present. Our monthly report provides our compiled, “boots on the ground,” data regarding the real estate market in stunning Central Oregon. The one fact that jumps out at us- the housing market is still the most reliable investment you can make for the future. Our June predictions were defined as strong, as we stated. We foresee finishing strong in July, as well. Here are our latest findings from the previous month.

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Duke Warner Trend Report for May 2020

Not many people would disagree that Central Oregon is a beautiful town to reside or visit in the summertime. Lovely sunshine during the day and stunning starlit nights make for an almost perfect summer set up. Each month we provide our latest findings in the Trend Report for your review. Now is an exceptional time to review the latest data on home purchasing trends in Central Oregon. As we continue to monitor the pandemic related changes to our community, we want to put everyone’s mind at ease and stress profoundly that the housing market is still soaring. You can depend on Duke Warner Realty to deliver the most recent data as it pertains to real estate in Central Oregon. Our Trend Reports goal each month offers valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we provide is an informative resource for any future trends in real estate. Last month’s predictions were accurate as we anticipated finishing strong in May. As we move into the summer month of June, we already see a flourishing real estate market. Here are our latest findings from the previous month.

June 1st Inventory and Looking Ahead

More active listings, in addition to more new listings, were put into effect in May vs. April. We were arriving with 462 active listings and 258 new listings in the Bend market within a diverse range of pricing, providing a variety of homes for those looking to purchase a new home in Central Oregon this summer season. Closing out the month of May proved the number of active listings for Bend increased mildly from month-end in April, which reported at 446. May improved considerably on new listings with a substantial increase over April coming in at 258 vs. 193. Based on past trend data, we are slightly ahead for real estate sales currently. Redmond’s active listings, as of June 1st, showed a slight decrease from 215 homes overall in May to 202 currently active listings. Similar to the Bend market, the number of new listings in Redmond as of June 1st increased to 115 vs. May’s 83. The count for both Bend and Redmond remained positive in May, and as we move through June, we see the combined active listings for Central Oregon increased to 664 homes.

Month-end May statistics for the Redmond market show us 67 homes sold, 115 new homes on the market, and 97 homes pending. The majority of active homes in Redmond’s market were in the $325,100 -$425,000 price range, showing a slight decrease from last month to 82 homes. The $225,000 – $325,000 also had a mild decrease to 28 active listings, the $425,000 – $525,000 range increased by one listing to 43, and the $525,000 & up price range climbed up to 48 active listings.

For Bend, the number continued to move upward in May with a steady increase in active listings for the entire first quarter of 2020. This is promising news for new home buyers as well as home sellers. There was a slight decrease from 12 active listings to 10 in the $225,000-$325,000 range, another increase to 104 from 101 in the $325,100-$425,000 range, remaining the same with 76 active listings in the $425,100 -$525,000 range and a decrease to 54 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 49 active listings, the $725,000 – $825,000 had 46 actives and the $825,000 – $925,000 showed a substantial jump to 42 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing a slight dip for homes listed in the $925,100 & up price range at 81.

In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. With low-interest rates and a wide variety of inventory in multiple price ranges, now is the perfect time to buy or sell your home. Whether you are buying or selling your home, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and in-depth market knowledge while they work for you.

Sold and Pending Listings

In May, Bend had a massive leap in pending homes from 141 in April to 285 in May, and Redmond had a bump to 97 pending vs. 73 the previous month. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Redmond, there was a reduction from 73 in April to 67 in May. Equally in Bend with a decrease from 171 sold in April to 145 sold in May. Based on the increased number of pending homes underway in June, we anticipate the sold numbers for both cities to surpass all previous figures in 2020.

Looking Ahead

Homeownership is one of the best wealth building prospects for persons seeking security. Central Oregon is a desirable community and has only continued to be more inviting over the decades. Our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. With record low-interest rates and a variety of homes from which to choose, Central Oregon is a beautiful place to call home and establish roots. Whether you are buying for the first time, upgrading, downsizing, the Central Oregon real estate market has the perfect home for everyone. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our experienced team knows how to price properties according to the market trends, and our expertise in the industry is reflected in our willingness to work hard for our clients.
Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.

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Duke Warner Trend Report for April 2020

With Summer right around the corner, now is the perfect time to review the latest data on home purchasing trends in Central Oregon. The weekend family drive often takes potential homebuyers into neighborhoods in the surrounding areas. As we continue to monitor the COVID related changes to our community, we want to put everyone’s mind at ease and realize the housing market is still doing exceptionally well and you can depend on Duke Warner Realty to deliver the most recent data as it pertains to real estate in Central Oregon. Our monthly Trend Reports offer valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we provide is intended be an informative resource for any future trends in real estate. As we anticipate a strong May and move into the summer month of June here are our latest findings.

May 1st Inventory and Looking Ahead

More active listings were implemented in April vs. March with 446 active and 193 new listings in the Bend market with a wide range of pricing provides a pleasant variety of homes for those looking to purchase a new home this summer. Closing out the month of April proved the number of active listings for Bend increased from month-end in March which was listed at 375. March had a slight increase over April for new listings coming in at 244 vs. 193. Based on past trend data we are right on par for this time of year. Redmond’s active listings, as of May 1st showed an increase from 178 homes overall in March to 215 active listings. As well as the Bend market the number of new listings in Redmond as of May 1st declined slightly to 83 vs. March’s 134. The count for both Bend and Redmond remained consistent in April and as we move through May we are seeing the combined active listings for Central Oregon increased to 661 homes.

Month-end April statistics for the Redmond market show us 79 homes sold, 83 new homes on the market and 73 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing an increase from last month to 90 homes. The $225,000 – $325,000 also had a jump to 41 active listings, the $425,000 – $525,000 range also continued to increase to 42 active listings, and the $525,000 & up price range climbed up to 39 active listings.

For Bend, the numbers in April had a noticeable increase in active listings for the entire first quarter of 2020. There was a marginal decrease in new listings for February and March but increased from January new listings. There was a jump to 12 active listings in the $225,000-$325,000 range, a sizeable jump to 101 in the $325,100-$425,000 range, another large increase of 76 in the $425,100 -$525,000 range and an increase to 51 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 43 active listings, the $725,000 – $825,000 had 45 actives and the $825,000 – $925,000 showed 31 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing more homes listed in the $925,100 & up price range jumping to 87.

In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. With interest rates the lowest we have seen in decades, now if the perfect time to buy or sell your home. Whether you are buying or selling your home, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and deep market knowledge while they work for you.

Sold and Pending Listings 

In April, Bend had 141 pending homes and Redmond had 73. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Redmond, there were 93 in March and 79 in April. In Bend, there were 189 sold listings in March and 171 in April.

Looking Ahead

As we look ahead to the summer real estate market, we want to remind you that our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. With record low interest rates and a variety of homes from which to choose, Central Oregon is a beautiful place to call home and establish roots. Whether you are buying for the first time, upgrading, downsizing, the Central Oregon real estate market has the perfect home for everyone. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our wonderful team knows how to price properties according to the market trends, and our love of the industry is reflected in our willingness to work hard for our clients.

Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.

 

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Duke Warner Trend Report for March 2020

Spring has arrived in Central Oregon and many residents have taken this time to get outside and enjoy the beauty that surrounds us here in the high Cascades. As we navigate the sudden changes in our community, with the COVID-19 virus at the top of everyone’s list of concerns, we continue to want to update our loyal followers with the market trends. Our monthly Trend Reports offer valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we share can be an informative resource for any future trends you might see as we finish out April and head into May.

April 1st Inventory and March Activity

With 330 active listings as of April 1st, the Bend market has a nice variety of homes for those looking to buy. The number of active listings for Bend increased from last month, which is on-trend for this time of year, according to years past. Redmond’s active listings, as of April 1st, showed 164 homes overall. The numbers for both Bend and Redmond remained consistent in March and as we head into April, we are seeing the combined active listings for Central Oregon at 494 homes.

March numbers for the Redmond market show us 93 homes sold, 135 new homes on the market and 111 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing 44. The $225,000 – $325,000 had 18 active listings, the $425,000 – $525,000 range had 26 actives, and the $525,000 & up price range showed 32 active listings.

For Bend, the numbers in March looked much like January and February. There were 2 active listings in the $225,000-$325,000 range, 43 in the $325,100-$425,000 range, 36 in the $425,100 -$525,000 range and 21 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 29 active listings, the $725,000 – $825,000 had 15 actives and the $825,000 – $925,000 showed 24 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing 60 homes in the $925,100 & up price range.

In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. If you are selling your home and trying to price your property, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and deep market knowledge while they work for you.

Sold and Pending Listings 

In March, Bend had 187 pending homes and Redmond had 111. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Bend, there were 127 in February and 187 in March. In Redmond, we saw 52 sold listings in February and 93 in March.

Looking Ahead          

As we embrace Spring 2020 and the plethora of changes due to the COVID virus, we want to remind you that our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. Central Oregon is a beautiful place to live and no matter what stage of life you are in, there is something for everyone in the real estate market. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our wonderful team knows how to price properties according to the market trends, and our love of the industry is reflected in our willingness to work hard for our clients.

Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.