Duke Warner Trend Report for February 2020
Looking back to this time last year, we are seeing similar trends with the active real estate market here 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 share can be an informative resource for any future trends you might see as we finish out March and head into April.
March 1st Inventory and February Activity
With 230 active listings as of March 1st, the Bend market has a nice variety of homes for those looking to buy. The number of active listings dropped in February, but that is on-trend for this time of year, and as the weather starts to warm up, we will most likely see those numbers start to increase. Redmond’s active listings, as of March 1st, showed 120 homes overall. History tells us that the numbers for both Bend and Redmond are both consistent and expected for this time of year. As we head into March, we are seeing the combined active listings for Central Oregon at 350 homes.
February numbers increased for the Redmond market, showing us 52 homes sold, 107 new homes on the market and 109 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing 40. The $225,000 – $325,000 had 28 active listings, the $425,000 – $525,000 range had 22 actives, and the $525,000 & up price range showed 32 active listings.
For Bend, there were 3 active listings in the $225,000-$325,000 range, 51 in the $325,100-$425,000 range, 39 in the $425,100 -$525,000 range and 31 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 24 active listings, the $725,000 – $825,000 had 17 actives and the $825,000 – $925,000 showed 23 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing 58 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 February, Bend had 233 pending homes and Redmond had 109. These numbers increased from January and that increase tells us both buyers AND sellers are active in the market. For sold listings in Bend, there were 135 in January and 127 in February. In Redmond, we saw 70 in January and 52 in February.
As we approach Spring 2020, 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 email@example.com.