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Central Oregon Home Sales | Oct 2017 Trends

Written by Posted On Tuesday, 07 November 2017 23:09

Central Oregon Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon real estate prices October 2017

Central Or Single Family Home Inventory Levels Remain Low

During a short time during the summer months, Bend had an increase in the months of inventory for single family homes. This may be due to the tremendous growth in new construction and also a reduction in the number of home sales during the wildfire season. However, that trend has disappeared during October with Bend, Redmond and Sunriver all showing a decrease in inventory levels from 2016; only Sisters has a slight increase. The greatest change in inventory levels over the last few years is in the Sunriver market where 8.1 months is now 2.7; the 2nd home and vacation rental market in Sunriver appears to be fully recovered.

 Central Oregon real estate inventory levels

What are Our Predictions for Central Oregon Real Estate?

Despite challenging weather last winter and terrible wildfires this summer, Central Oregon continues to grow. As long as the economy remains strong and people from around the country find the Central Oregon lifestyle something they want to live themselves, we predict that housing prices will continue to trend upward.

Original blog can be seen at Bend Premier Real Estate.

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Lynnea Miller

Owner/Managing Principal Broker Bend Premier Real Estate.

Lynnea began her real estate career when her husband became a general contractor in 1994. After years of working with her husband and selling many homes "for sale by builder," Lynnea got her real estate license in 2000 and began working at a local brokerage, first as part time Broker and marketing director for the company, and later as full time office manager/marketing director/transaction coordinator, and then as Principal Broker. In 2010, Lynnea started her own brokerage, Bend Premier Real Estate, with the encourage of her husband and several Brokers.

Prior to real estate, Lynnea worked for 9 years with her husband in the ownership and management of 3 retail Bend, Oregon businesses with up to 35 employees. Before moving to Bend in 1985, Lynnea worked in homeowner association property management, being promoted in the space of 1 year from Customer Service, to Property Manager, to District Manager.

Lynnea graduated from the University of Oregon Summa Cum Laude in 1983 with a Bachelors of Science degree and graduate first in her high school class in 1979. Lynnea and her husband have 3 adult children. Lynnea also teaches fitness classes part time, holding an ACE certification since 1990

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