Bend OR Real Estate - July 2018 Trends

By
Real Estate Broker/Owner with Bend Premier Real Estate 200009031

Are Bend OR Home Sales Leveling Off?

The July 2018 figures are out and there has been a change in the sales trends for Bend single family homes. Since coming out of the great recession, home sales in Bend have been strong with pended and sold trends consistently higher than those from the year before.  While the average price per square foot continues to rise, the actual numbers of homes sold and pended are down.  When July 2018 is compared with July 2017, the following data can be noted for Bend single family homes on less than an acre:

  • Homes for sale down 2.9% to 643
  • Homes sold down 6% to 233
  • Homes pended down 4.3% to 222
  • Average active price up .6% to $654,000
  • Average sold price up 5.5% to $502,000
  • Months of inventory based on closed sales up 3.7% to 2.8
  • Average price per square foot up 2.8% to $253*

What are the Trends Telling Us?

Although one month of change does not necessarily mean we have a new trend, the fact that most of the figures are down over the year before is interesting. We have also seen asking prices varying little over the past year. During the summer of 2017, much of Central Oregon suffered from several large forest fires which resulted in smoke filled skies and people unable to enjoy the outdoor lifestyle people move here to experience. This summer our local fires have been small and the skies relatively clear most of the season, but the home sales trends are down. Whether or not this means we are entering a time of home price correction remains to be seen.

Bend Oregon Real Estate Trends 

* Figures from Central Oregon MLS.  Original blog can be seen at Bend Premier Real Estate's blog page.

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Topic:
Real Estate Market Trends
Location:
Oregon Deschutes County Bend
Tags:
bend oregon real estate
bend or real estate
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bend real estate trends

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Rainmaker
3,611,589
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lynnea, great prospective on your Bend real estate market, and we saw some sluggish sales in July, but sure hope it is seasonal.

Aug 07, 2018 06:47 PM #1
Rainmaker
2,484,544
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Lynnea... the jump in months of inventory goes a long way to telling a story of a slowdown... what about new listings?

Aug 08, 2018 04:29 AM #2
Rainmaker
4,090,580
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Aug 08, 2018 04:51 AM #3
Rainmaker
303,384
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

HI Nina Hollander .  New listings are about even with last year. 

Aug 08, 2018 09:36 AM #4
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Rainmaker
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Lynnea Miller

Premier Real Estate Service in Central Oregon
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