Bend Real Estate Prices Still Increasing
The September, 2019 data has been published and the price for a Bend single family home on less than an acre is still going up. Although September is traditionally among Bend's biggest months for price reductions when sellers whose property did not sell during the summer lower the asking price to hopefully get a buyer before winter hits, Bend home sales in September 2019 still reflect higher prices than the same month a year before. When Bend single family home sales on less than an acre in September 2019 are compared with September 2018, the following trends can be noted:
- Homes for sale down 6.7% to 556*
- Homes sold up 8.7% to 212
- Homes pended up 9.7% to 214
- Days on market down 4% to 95
- Sold/Original Listing Price difference unchanged at 0%
- Months of inventory down 16.4% to 2.6
- Average active price up 6.3% to $676,000
- Average sold price up 12.1% to $530,000
- Average price per square foot for sold up 10.2% to $260
The Demand For Bend OR Real Estate Remains High
Lack of inventory continues to drive Bend home prices. With the average sold price up 12.1% and the average price per square foot up 10.2% from the same month one year ago, the typical consumer may think we have reached the top of the market. However, home sales are also up with 9.7% more homes put in pending status in September 2019 than were in September 2018. Interest rates for home loans remain at historic lows which can be contributing to buyers still being able to buy in Bend, even with the higher home prices. It remains to be seen as we enter a presidential election year in 2020 how this may impact our local Bend real estate market.
*Data from Central Oregon MLS
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