Bend Oregon real estate market update
Posted May 13, 2008 @ 7:36 pm, Viewed by 270 Visitors, Read 288 Times.What's Going on in the Bend real estate Market?
Homes are selling in Bend?
Of course they are. There is always going to be a need for housing in Central Oregon. People love it here and are relocating to the area frequently. The real estate market is still slow going, but we're starting to see it pick up. Our real estate market depends on "Supply and Demand". As our inventory goes down, the market will start to settle. If our inventory keeps rising, prices are likely to remain at current levels and may drop more.
Is now the right time for you to buy Bend Oregon real estate? If I only had a magical crystal ball!
It could be the right time, as long as you're not looking to "flip" a property and make a quick buck. Each home buyer is in a different economic situation. Since I don't have a crystal ball, I can only give an opinion based on my activity and the Central Oregon Realtors Association statistics. There is a great inventory of homes out there. Buyer's who wait may miss the perfect property.
Investing in Bend
If the current economy hasn't gobbled up your hard earned savings, now is a great time to make a long-term investment in the Bend real estate market. There are great deals on Short Sales, REO Foreclosures, and Builder sales, and the rental market is doing well. I recently sold a foreclosure that had several offers on it. Smart investors buy when the majority aren't, and smart investors are buying up distressed homes in the Bend Oregon real estate market.
Below are the statistics of Stick-Built home sales in the Bend area. These statistics were compiled using COAR Sold data.
January 08- 84 Single Family Stick-Built Homes Sold
|
Bend |
Bedrooms | Bathrooms | Square Feet | List Price | Selling Price | Days on Market |
| Minimum | 2 | 1.00 | 1,056 | $189,900 | $152,000 | 0 |
| Average | 3 | 2.44 | 2,118 | $442,954 | $419,276 | 192 |
| Median | 3 | 2.50 | 1,962 | $359,500 | $343,000 | 180 |
| Maximum | 5 | 4.50 | 5,390 | $1,950,000 | $1,750,000 | 603 |
| Total Dollar Value | $35,219,192 |
February 08- 59 Single Family Stick-Built Homes Sold
|
Bend |
Bedrooms | Bathrooms | Square Feet | List Price | Selling Price | Days on Market |
| Minimum | 2 | 1.00 | 1,040 | $175,000 | $155,000 | 0 |
| Average | 3 | 2.39 | 2,135 | $401,688 | $382,037 | 208 |
| Median | 3 | 2.50 | 2,046 | $339,900 | $322,591 | 189 |
| Maximum | 5 | 4.50 | 4,689 | $1,899,000 | $1,800,000 | 612 |
| Total Dollar Value | $22,540,169 |
March 08- 98 Single Family Stick-Built Homes Sold
| Bend | Bedrooms | Bathrooms | Square Feet | List Price | Selling Price | Days on Market |
| Minimum | 1 | 1.00 | 816 | $114,900 | $120,500 | 20 |
| Average | 3 | 2.46 | 2,135 | $421,766 | $395,228 | 164 |
| Median | 3 | 2.50 | 1,844 | $321,950 | $297,000 | 140 |
| Maximum | 5 | 5.00 | 6,129 | $1,600,000 | $1,400,000 | 623 |
| Total Dollar Value | $38,732,341 |
April 08- 101 Single Family Stick-Built Homes Sold
| Bend | Bedrooms | Bathrooms | Square Feet | List Price | Selling Price | Days on Market |
| Minimum | 1 | 1.00 | 896 | $159,900 | $161,000 | 17 |
| Average | 3 | 2.24 | 1,964 | $381,284 | $357,782 | 190 |
| Median | 3 | 2.50 | 1,812 | $299,900 | $298,000 | 136 |
| Maximum | 4 | 5.00 | 4,890 | $2,550,000 | $2,150,000 | 813 |
| Total Dollar Value | $36,136,008 |
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