Bend Or Real Estate Sales Remain Strong
We sound like a broken record, but the trends for Bend single family home sales continue their upward tract. When 1st quarter 2018 statistics are compared with 1st quarter 2017, the following data is seen:
- Homes for sale up 23.3% to 444
- Homes sold up 14% to 506
- Homes pended up 6.7% to 620
- Average price per square foot up 9.5% to $235.75
- Average days on market down 8.5% to 118
- Average active price up 2.2% tp $646,00
- Average sold price up 10.8% to $484,000
- Months of inventory based on closed sales up 8.6% to 2.5*
Bend Continues Strong Sellers' Market
Part of the increase in sales during 1st quarter 2018 compared with 1st quarter 2017 has to be attributed to our relatively mild winter. We cannot forget the record breaking snow fall we had last winter, and when that is factored in, the increase in inventory and sales can at least in part be based on the fact that snow did not limit access and sellers were more likely to list this winter than last.
Low inventory levels continue to be an issue with the rising prices and we still see no end in sight. There appears to be a leveling off in asking price across all price points, but that may be attributed to more mid range homes being available for purchase than in the past year.
*Data from Central Oregon MLS
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