February, 2017 statistics have just been published, and it looks like the snow we had during January/February definitely impacted Bend Real Estate. When compared with February 2016, data for Bend single family homes on an acre or less is as follows:
- Number of homes for sale down 13.8%
- Number of homes sold down 1.5%
- Number of homes which entered into contract down 21.4%
- The average sales price is up 3.5% to $620,000
- The average sold price is up 17% to $441,000
- The average price per square foot is up 13.1% to $224,000, the highest figure in 5 years.
- There are 2 months of inventory based on pended sales**
Our common theme over the past few years continues - lack of inventory. During the heavy snow, it was very difficult to show homes, and many potential buyers didn't actively look for property. Sellers, dealing with ice dams and roof leaks, kept their homes off market. However, with our warmer temperatures, the snow is melting and people are actively looking again. With little inventory, multiple offers on well priced properties are common. We anticipate spring will continue to be a seller's market.
**Data from Central Oregon Multiple Listing Service
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