Posts from February 9th, 2024
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9
Bend Oregon Real Estate | January 2024 Trends
Bend Home Prices Leveling Off
The January 2024 Bend real estate market shows some stabilization. Although the average and median price per square foot are both up, the average and median sales price on sold homes comparing January 2024 to January 2023 show little movement. The issue most Bend home buyers are still dealing with is lack of inventory which provides few choices for people looking to purchase. Although mortgage interest rates have come down from the high rates pushing 8% seen last fall, they are still in the mid sixes which also impact the purchasing power for home buyers.
When the January 2024 sales for Bend single family homes on less than an acre are compared with those from January 2023, the following changes can be seen:
- Average sales price down 1.9% to $842,669*
- Median sales price up 1.5% to $699,950
- New listings down 14.7% to 99
- Homes for sale down 28.4% to 204