Bend OR Real Estate - March 2019 Trends

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

Bend Oregon Real Estate Sales Down

March 2019 Bend real estate sales followed the trends noted earlier in the year. Although there was a seasonal uptick in March 2019 of  Bend single family residential home real estate activity, new home listings, those in pending status and those sold were significantly down.

  • Numbers of homes for sale down 15.1% to 377*
  • Numbers of homes sold down 27% to 149
  • Numbers of homes pended down 8.6% to 201

Bend OR Home Prices Up

While actual sales are down, the average price of a Bend single family home continues to rise. Comparing March 2018 with March 2019:

  • Average price per square foot on sold homes up 6.3% to $252
  • Average active price up 4.9% to $682,000
  • Average sold price up 8.9% to $536,000

Bend Single Family Home Inventory Remains Low

While prices continue to rise with actual sales down, inventory levels of Bend single family homes remain low. The uptick in inventory levels in February may be attributable to heavy snow the second half of the month. In March, inventory levels dropped from February levels, but are still higher than that of 2018. In 2018, Bend had 2.2 months of inventory based on closed sales. In 2019, this figure is slightly better at 2.5 months. Still, lack of inventory remains a problem with Bend real estate.

Predictions For Bend Real Estate

Our blog on New Construction written last month shows that permits for Bend single family homes are down as well. For builders, the price to build a new home is driving their sales price which in turn make overall home prices in Bend rise. This in turn leads to less affordability and builders in certain price points sitting on inventory. There is also a statewide push to encourage multi-family and higher density housing options which may be more affordable, but for many less desirable than single family homes. We predict more of the same for 2019.

Bend Oregon Real Estate Trends

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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Oregon Deschutes County Bend
Tags:
bend oregon real estate
bend real estate
bend or real estate
bend homes for sale
bend single family homes

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,150,997
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes generally when Prices climb the down side is there are fewer sales and fewer Realtors making sales...Endre

May 03, 2019 11:55 PM #1
Rainmaker
377,956
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Thanks for the comment, Endre Barath, Jr. . Just starting to look at the April figures.  Looks like the dam has opened and sales are soaring.

May 04, 2019 09:07 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
377,956

Lynnea Miller

Premier Real Estate Service in Central Oregon
Ask me a question
*
*
*
*
Spam prevention

Additional Information