Posts from September 2018
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28
Is the Central Oregon Real Estate Market Slowing Down?
Numbers of Central Oregon Single Family Homes for Sale Up
One of the key components on the health of a real estate market is the inventory levels of the homes selling. In a balanced market, there are 6 months of supply. In Central Oregon, there has been a great lack of inventory for several years in most of the cities which has led to a seller's market with rising home values, multiple offers and in some cases, a certain desperation for buyers to find a home. Full price offers or even offers over asking have been the norm at certain prices for a while. However, there appears to be a shift happening in much of Central Oregon with the number of single family residential homes available for sale rising.
The following chart shows the las...
7
Bend Oregon Real Estate | August 2018 Trends
Bend Single Family Home Prices Still Rising
The figures from August, 2018 Bend real estate sales are published and the price of a Bend single family home continues to go up. While the trend upward in the asking price of a Bend home appears to be leveling off, the sold price is still rising with the average price per square foot now at $255. The following data compares August 2017 sales of Bend single family homes on land under an acre with those from 2018:
- Number of active homes for sale down 6.4% to 619*
- Number of homes sold slightly up .8% to 255
- Number of homes pended up 8.7% to 238
- Months of inventory based on closed sales down 7.7% to 2.4
- Average days on market down 11.8% to 90
- Average price per sq...
5
Bend Oregon Real Estate - Are New Listings Keeping Up With the Demand?
Bend Homes for Sale Vs Sold
Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas.
We are seeing a transition in the Bend real estate market and a slight increase in inventory. The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:
