Bend Real Estate Market Report
Our market is definitely changing… Many of us Realtor have a slew of buyers looking for homes, but are having a hard time finding them a home. And when we do find them a home we are running into multiple offer situations. Here is a look at the Bend market broken down by price ranges. Pending sales are way up, inventory is down…
All data is for stick built homes, excluding manufactured homes, condos, and townhomes.
- ACTIVE- 87 home listed as Active
- PENDING- 222 homes Pending Sale!
- SHORT SALE WITH OFFERS- 44 short sales that currently have offers on them
SOLD- 372 homes have sold since the beginning of the year
- ACTIVE- 338 Active listings
- PENDING- 205 Pending Sale
- SHORT SALES WITH OFFERS- 45 short sales with offers on them
- SOLD- 366 homes have sold since the 1st of the year
- ACTIVE- 147 Active home listings
- PENDING- 33 Pending sales
- SHORT SALES WITH OFFERS- 5 short sales with offers
- SOLD- 44 properties have sold since the beginning of the year
- ACTIVE- 60 homes on the market
- PENDING- 1 pending sale
- SHORT SALES WITH OFFERS- O
- SOLD- 2 sold this year
Did you notice that under $200,000 there are almost 3 times as many homes Pending sale and Short Sales with offers on them, than there are Active on the market. What does this mean? It means that our inventory is down, which is a sign that our market is turning. Supply and Demand. The demand is there, and our supply is running short.
The $500,000+ price range is still moving slow, but it will be the last to recover. The good deals in this price range are still seeing mutiple offers though. Buyers are out there, but they’re only looking for the deals.
I’m excited to see what this summer brings. Stay tuned for more on the Bend market conditions.
Below is a graph comparing home sales and inventory for stick built homes over the past 6 years. Our inventory is down to where we were during the boom… We currently only have 4.1 months of inventory.