November 2021 Central Oregon Housing Market Update
The November 2021 Beacon Report is in — plus, we have some big news! If you missed the announcement on social media, FRED Real Estate Group was recently acquired by Colorado-based West + Main Homes. West + Main’s culture, mission, and brand emphasis strongly align with Bend Relo, and we are ecstatic to grow together. Read more about the news here. And follow us on Facebook and Instagram for regular updates.
As for the market, conditions remain relatively level in Central Oregon.
Bend Real Estate Market, October 2021
In Bend, the median price per square foot rose from $322 in September to $330 in October. This 2.4% increase is the highest change we have seen in months.
In Bend, the median sales price for October 2021 came in at $645,000. Compared to this time last year, this is a 13% increase.
The average days on market for Bend increased by one, leaving us at 8 days on the market for October. This steady upward trend can also be seen in Redmond, Sisters, La Pine, and Crook County.
While we don’t have access to these stats from the rest of the realtors in our market, Bend Relo’s listings received an average of 5 offers per home in October, which is up from 2.5 in September and only 1 offer per home in August! This data shows us that while there are less homes on the market this fall, there may be just many buyers as there were in the summer, making it a potentially perfect time to list your home!
It’s never been more important to work with a team that can put your home in its best light with professional staging, photography, video, and cross-media marketing. Check out the Bend Relo blog to learn what you need to know about an appraisal contingency, and whether you should waive it.
Reach out to Bend Relo at Fred Real Estate Group for a free home valuation today.
REDMOND: NOVEMBER 2021 BEACON REPORT
Redmond market stats for October held steadier than those in Bend. The median home price decreased less than 1% to be $449,000.
The average price per square foot was $271, which rose from September’s number of $268. Days on market increased from 5 to 6 in the Redmond market.
SUNRIVER: HOUSING MARKET NUMBERS
Average days on market stayed level at 6 days in Sunriver for the month of October. While the median home price is now at $863,000— an increase of $5,000 from September.
Inventory in Sunriver continues to be low, with 0.5 months of inventory for sale. This number remains to be half of what Bend and Redmond have available, as each of those markets sit at roughly one month of inventory.
SISTERS: HOUSING MARKET TRENDS
The average home for sale in Sisters, Oregon spent 10 days on the market, an increase of 2 days from September, with a median sales price of $575,000, making it a more affordable alternative to Bend, with comparable school ratings and living experience!