Central Oregon real estate | market overview
What’s happening in our local Central Oregon real estate market?
The third quarter of 2019 saw steady activity and traction throughout Central Oregon. We’re still experiencing a seller’s market with Deschutes County and Crook County at approximately three months of inventory and Jefferson County around four months of inventory. Bend and Redmond experienced a hot August as median sales prices once again increased. The Beacon Appraisal Group’s August report noted a record Bend median sales price in August of $475,000, up $5,000 from July. Redmond, meanwhile, saw a $21,000 jump in August, to a record median price of $336,000.
Regardless of what type of market we’re in, it’s crucial for sellers to appropriately price their home to sell based upon their desired timeline and goals. Mortgage rates are dropping nationally and predicted to tumble to record lows by the end of 2019, and we’re also seeing many listing price reductions in spite of strong sales, making it a good time to buy if you’re able.
Three of our FRED brokers take a ride around town in true Bend fashion (thanks to The Bend Tour Company) and discuss what trends they’re seeing in the Central Oregon market so far this year and offer insight and immediate advice for both home buyers and sellers moving into Q4:
(*Based on sales activity for the past three months)
Median Sales Price:
Average Sales Price:
Average Days On Market:
We’ve got area highlights, favorite local business, market trends, schools, current homes for sale, and more. Explore and discover our Central Oregon communities here or contact one of our local real estate professionals: