Real Estate Trends With Duke Warner Realty: Marching Ahead

The numbers are in and Spring 2014 is proving to be a fantastic time for real estate in Central Oregon. According to February and March 2014 real estate statistics, the major markets of Bend and Redmond are growing.

 
New listings have grown from 143 in February 2014 to 266 in March in Bend and 48 in February to 101 in March in Redmond. This shows that more sellers are putting their houses for sale on the market. The growth of current inventory available indicates continued interest in property sales. This is a foundational element of a strong market.

 
Another positive indicator is the growing number of pending sales—from 161 in February to 191 in March in Bend, and from 48 in February to 80 in March in Redmond. This number indicates that property sales are continuing to enter escrow, developing a positive balance between available properties and properties that buyers are making offers on. Both inventory and transactions are growing at a nice pace. This contributes to a healthy market of available properties and sales in Bend real estate and in other areas of Central Oregon.

 
The third indicator is price reductions in response to the market. Bend saw 44 price reductions in February, compared with 68 in March; Redmond saw 16 price reductions in February and 31 in March. With a market maintaining a growing inventory and growing sales, price reductions are an indication of a responsive market. This responsiveness is a sign that pricing is remaining stable. Sellers are responding to buyers in the market; buyers are making offers on properties and the inventory level remains healthy.

 
These three indicators—growing inventory, increasing sales, and market responsiveness to keep inventory in check—are all positive signs for the Central Oregon real estate market. If you are looking to place your home on the market or looking to purchase a new home, Spring is proving to be an excellent time.