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Redmond Real Estate - August 2018 Trends

Written by Posted On Thursday, 13 September 2018 17:53

Redmond Oregon 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.

Redmond Oregon Real Estate Trends August 2018

 *Data from Central Oregon MLS.  Original blog can be read at Bend Premier Real Estate's blog.

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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

https://www.bendpremierrealestate.com

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