Spring has arrived in Central Oregon and homes are selling! After a series of months in which Bend home sales had dropped while prices continued to rise, May 2019 has provided a 180 degree turn around. The number of Bend homes for sale jumped 34.8% and the number of homes sold rose 29.9% from April, 2019. After an unusual winter with late heavy snow, overcast skies and heavy rain in April, sellers decided at last that May, with the sun out and longer days, was a great time to list. When May 2019 is compared with May 2018 for Bend single family homes on less than an acre, the following changes can be noted:
- Homes for sale are down 1.3% to 535
- Homes sold are up 2.2% to 230
- Homes pended are up 11.6% to 269
- The average price per square foot is up 9.6% to $263
- The average days on market are up 6.1% to 104
- The sold/original listing price difference is down 1% to 97%
- The average active price is up 6.4% to $698,000
- The average sold price is up 11.9% to $556,000
- Months of inventory based on closed sales is down 4.2% to 2.3 months*
The average price of a Bend home is now at $263 per square foot with the average sold price at $556,000. These two figures are the highest ever seen in Bend.
Bend Real Estate Listings Dramatically Increase in May
Although the number of new Bend homes listed in May 2019 was slightly less the the number listed in May 2018, after so little added in March and April, the increase in the number of new Bend homes available triggered many new sales. Bend Premier Real Estate Brokers experienced multiple offers for their sellers on many properties and buyers had to be willing to offer their best in order to have sellers accept. After such a quiet winter, the change in Bend home sales has been substantial. If you ask Bend Premier Real Estate Brokers how work is, they will say they are busy!
*Data from Central Oregon MLS. Original blog can be read at Bend Premier Real Estate's website.