Duke Warner Realty Market Trends for March are out!!

There are good signs that our real estate market is stabilizing and a recovery for the region has begun. If our two larger markets Bend and Redmond remain strong it should be a matter of time before our smaller markets like Prineville and south Deschutes County follow suit.


The market for homes under $225,000 is getting more and more competitive, not just in Bend but Redmond too. Redmond is selling homes under $125,000 as fast as they come onto the market. If you are going to buy in this class you better be prepared to act quickly as most well priced homes are receiving multiple offers. If you do not have a mortgage person guiding you on this process use this link to a list of mortgage brokers that have done well for our clients in the past.

For the second month in a row the number of homes that have taken a price reduction has fallen. This trend holds sway mostly in our hot categories with homes under $325,000. The categories above $325,000 are holding relatively steady in terms of price and quantities of homes available with a slight improvement in the number of homes sold.

Overall our inventory has slipped below 400 homes actively listed for sale. At any one time there is an average of 40 bank owned properties and 60 short sales that are actively listed for sale, both of these numbers have been on a downward trend but appear to have stabilized. It will be interesting to see how the recently passed Oregon House Bill 1552 which goes into effect in late June and was design to provide relief and clarity for distressed homeowners affects our distressed sales market. There are a variety of opinions on how the lenders are going to react but there is nothing decisive to report yet.

Builders too are feeling confident in the direction of our local market, last month was had the second highest number of new home permits being issued in the past twelve months. To see the most dramatic illustration of these new homes head out to NorthWest Crossing were more than a dozen new homes are under construction.

Click on the city of your preference to see this month’s Duke Warner Market Trend Report. The Bratton report will follow once it is released.

Bend       Redmond