By STEELE HAUGEN
CENTRAL OREGON DAILY NEWS
Welcome to the real estate market in Central Oregon.
“This is a crazy market, we have not seen a market like this,” said Teri Axmaker, a real estate broker at Fred Real Estate.
“It just kept climbing and it has not stopped,” said Martin Moore, a broker at Knightsbridge International Real Estate.
“We’ve got an awful lot of demand and virtually no supply,” said Fred Johnson, a broker at Duke Warner Realty.
A booming real estate market in Central Oregon is nothing new, but what’s happening now is breaking records.
Real estate agents say most homes are on the market for less than a week
“You’ll get an offer within 24 hours,” Axmaker said.
“The median home price is at 580,” added Axmaker. “It was 440 a year ago.”
Agents like Martin Moore with Knightsbridge International Real Estate thought the pandemic would hurt the market
“Instead it (the market) actually went in the opposite direction,” Moore said about the pandemic.
One possible reason, working remotely may have driven people to Central Oregon.
“The big need to go to the office every day when people were working from home allowed outlined areas from home to get on the radar,” Johnson said.
The Redmond Municipal airport also plays a part.
“For any of those people who have that big city salary, but only need to go there a time or two a month, it’s very easy to make connections from Bend,” Johnson added.
So many offers on houses, causes the competition to be fierce.
“You price it strong and you still get offers well above because they are fighting with each other,” Axmaker said. “The buyers are to be the one that gets to buy the house.
Axmaker says it’s common for people to make offers without even seeing the property.