Posts from March 2020
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8
How Covid 19 is Changing Central Oregon Real Estate
Will Coronavirus Change the Central Oregon Real Estate Market?
With the outbreak of the coronavirus worldwide, which has sickened thousands and created panic and uncertainty in our stock market, we are left to question if the effects will extend to the US real estate market, and more specifically to our local Central Oregon real estate market.
Coronavirus Pushes Down Interest Rates
Mortgage Interest Rates have already fallen to new record lows (3.29% as of March 5th) as investors are taking money out of the volatile stock market and putting it into safer US Treasury Bonds. Historically, when bonds are strong, mortgage rates go down.
7
Bend Oregon Real Estate | February 2020 Trends
Lack of Inventory Impacting Bend Real Estate
A mild winter and continued high demand has led to a boom for February 2020 home sales in Bend. When the February 2020 sales of Bend single family homes on less than an acre are compared with February 2019, the following changes can be noted:
- Homes for sale down 36.7% to 252*
- Homes sold up 17.6% to 127
- Homes pended up 51% to 219
- Average price per square foot up 7.3% to $265
- Average days on market up 10.1% to 131
- Sold/Original listing price difference percentage unchanged
- Average active price up 13.2% to $771,000
- Average sold price up 11.7% to $564,000
- Months of inventory down 46.1% to 2
Bend Home Sales Not Following Normal Trends
Winter is typically a slower time fo...