Bend Home Sales Continue to be Strong
It is with great interest that we reviewed Bend real estate data from January, 2017. This past January has seen some of the most snow on record for Bend, with many school days canceled, roof ice dams common and streets piled with snow which made showing property very difficult. Despite these problems, January 2017 single family residential home sales in Bend under 1 acre remained strong with 4.2% more properties in pending status in January 2017 than were during January 2016. Inventory levels were 19.1% less and 19.8% fewer properties closed, but of the properties available, more entered into contract during our difficult winter weather in 2017 than did in our more temperate weather January 2016.
Bend Home Prices Are Up
Home prices continue to climb with the average price per square foot of January Bend home sales up 4% to $207 per square foot. The average active home price is up 4.4% to $599,000 and the average sold home price is up 5.8% to $419,000. Inventory remains extremely low with 1.9 months supply of inventory all price points based on pended homes, down 20.7% from January 2016.
When a new listing hits the market, we are seeing many showings and often multiple offers; homes are not sitting very long that are well priced. Assuming no national or world wide issues this coming year, we can remain confident that Bend will continue to see high demand for housing during 2017.
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