Bend Home Sales Report
Bend Residential Real Estate Sales
As a Bend agent, the question I get most is “How’s the market doing?” Here are some current statistics on the Bend real estate market.
STICK-BUILT HOMES IN BEND
As of 9/29/08, on the Central Oregon MLS there are currently 1,968 stick-built residential properties available in the Bend area, and 169 homes are pending sale. Over the past 12 months 1,238 homes have sold in the Bend area. That’s an average of 103 a month. At that pace, we have about 19 months of inventory in the Bend area. However, this number will most likely change this fall. Why?- I currently know many sellers that are selling multiple properties right now, but really they just need to sell 1 or 2. Most likely many of these sellers will rent out their remaining properties and take them off the market. Also, many properties currently listed are up for rent as well. Most likely those properties will rent first and be taken off the market.
Here’s a graph showing the DOM, (days on market), for SOLD stick-built homes in the Bend area.
As you can see, most homes sold in the Bend real estate market were on the market for more than 120 days. Sellers- Be patient and price your home right. It may take some time, but with the right price and appropriate advertising your home can sell in today’s market. 107 homes have sold in Bend in the past 30 days ranging from $127,050 - $1,700,000.
A Quick Look at the Redmond Real Estate Market
Searching the same criteria as above, the Redmond real estate market shows 787 active stick-built homes on the market. 76 homes are currently pending sale in Redmond and 468 homes have sold in the past year. In the past 30 days, 41 homes have sold in Redmond.
The Bratton report should be out in early October and I’ll give you an update on the entire Central Oregon real estate market at that time. If you have something to contribute, or a question about the current real estate market feel free to comment below!
This is a great post. That is crazy that the Dom is 50% for 120 days or more. Do yall not have allot of buyers in your area?
Wow, that is a lot of inventory. Here in New Jersey in many of the towns I work we are at about 7 to 10 months of inventory. Though it is true that buyers are a little scarce, there are some buyers and they are getting some very good deals on the homes for sale. As they say, those who buy when most will not, get the best deals.
Wow like Mike said I can’t believe you have so many homes that don’t sale for 120+ days. This would indicate to me that either homes aren’t priced correctly or you don’t have very many buyers.
The Bratton report for September just came out. Through September are inventory was at 15 months.
Even if we have buyers, the main problem is the price. Too much mismatch makes it almost impossible to make a sale.
Buyers first consideration always price, if buyer have to face more mismatches with their condition than it will be difficult to final deal.