Bend Oregon Real Estate | June 2017 Trends

Posted by Bend Premier Real Estate on Tuesday, July 11th, 2017 at 1:53pm.

Bend Real Estate trends mixedBend Real Estate Trends Mixed

The Bend real estate trends from June reflect a changing market.  Although the inventory levels are finally ticking in the right direction, the 2.4 months of Bend single family home inventory now available are still significantly below a balanced market where 6 months of inventory is considered healthy. Bend residents can see the evidence of new home construction throughout the town and when June, 2016 is compared with June, 2017, the 2.4 months is up 14.2%.  Positive movement, but still not where we need to be.

However, the trends are mixed when you compare actual sales. Comparing June 2016 with June 2017 Bend home sales provide the following data:*

Bend Real Estate Trends June 2017

  • Number of Sold Homes down 1.6%
  • Number of Pended Homes down 3.1%
  • Days on Market down 16%
  • Average Active Price up 3.8%
  • Average Sold Price up 12.8%
  • Average Sold Price per sq ft up 11%

So, although prices continue to rise and days on market are down, the total number of homes that have sold and that are in contract pending closing are down. The influx of new inventory for June may impact July sales as lack of inventory has been an issue with Bend housing for the last 5 years.

What are the Real Estate Trends Telling Us?

Fewer homes are selling, but demand is still high and prices continue to go up. At $233 a square foot average price, Bend single family home prices are higher than ever. Are we at a point where people cannot afford Bend? It remains to be seen how the added inventory in June impacts the trends for July.

Bend Homes Prices*Data from Central Oregon Multiple Listing Service

 

 

Leave a Comment

The content relating to real estate for sale on this website comes in part from the MLS of Central Oregon. Real Estate listings held by Brokerages other than Bend Premier Real Estate are marked with the Reciprocity/IDX logo, and detailed information about these properties includes the name of the listing Brokerage. © MLS of Central Oregon (MLSCO).

This content last updated on November 17th, 2019 at 4:59am PST. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

All content displayed on this website is restricted to personal, non-commercial use, and only for ascertaining information regarding real property for sale. The consumer will not copy, retransmit nor redistribute any of the content from this website. The consumer is reminded that all listing content provided by automatic transmission by MLSCO is © MLS of Central Oregon (MLSCO).