Bend Real Estate In Spring Selling Season
The April figures are out and the spring selling season has hit! Buyers are offering on the existing inventory and multiple offers on well priced homes are the norm rather than the exception. The trends are also showing a strong market for Bend homes for sale and home sales continue to rise.
The figures for April 2018 on Bend single family homes on less than an acre compared with April 2017 are as follows:
- Homes for sale up 7.7% to 459
- Homes sold up 3.9% to 554
- Homes pending up 4.5% to 672
- The average price per square foot for sold homes up 8.2% to $238
- The average active price is down 4.7% to $650,000
- The average sold price is up 6.5% to $494,000
- The months of inventory based on closed sales is up 26.3% to 2.4*
Some of the strong trends can be based on the fact our relatively mild winter enabled builders to continue their work through the fall and winter months so that more inventory is available this spring than last. The one trend down in the average active price can also be reflected in increased homes available through new construction in the mid range, meeting the needs of a specific demographic.
Bend Home Sales to Remain Strong
We predict that homes sales in Bend will continue to be strong through Spring and Summer, provided interest rates on home mortgages do not suddenly rise more than 1 or 2 points and that the United States and the Central Oregon local economy continue to grow. As long as Bend remains a community people in the country want to relocate to, Bend OR home sales will keep trending up.
* Data from Central Oregon MLS
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