Posts with tag 'Redmond Real Estate Trends'
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What Happened With Redmond Oregon Real Estate Sales in 2023?
Redmond Home Sales Dropped in 2023
Redmond has been among the best locations in Central Oregon for middle class homeowners to reside. Situated only 20 minutes north of Bend on Hwy 97, Redmond has been a more affordable option for many looking to purchase in Central Oregon and its close proximity to Bend has made Redmond a town from which many who work in Bend can fairly easily commute.
Redmond experienced the same real estate market trends Bend did during the Covid pandemic with limited inventory and great demand pushing prices up. Low interest rates enabled many to purchase Redmond homes at lower prices than seen in Bend. However, when interest rates doubled in 2022, this greatly impacted the buying power of would-be Redmond homebuyers and in 2023, median home prices dropped in Redmond by over 4%.
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Redmond Oregon Real Estate | First Half 2023 Trends
Redmond Real Estate Sales Reflect a Market in Transition
It has been awhile since we last looked at the data for Redmond Oregon home sales. Redmond's housing has consistently been more affordable than that available in Bend with the majority of homes in the city what most would considered middle income suburban. The Covid-19 housing boom impacted Redmond as it did most of the country, and now rising interest rates, lack of inventory, and relatively high prices are creating a housing market in transition.
We looked at Redmond home sale for the first half of 2023. When the first six months of 2023 are compared with the first six months of 2022, the following changes can...
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