The Bend real estate market has been strong since coming out of the recession. However, the figures from January 2019 were beyond expectations with the number of new ratified sales contracts hitting new highs.
When January 2019 is compared with January 2018, the following trends can be noted for Bend single family residences on less than an acre of land:
- Homes for sale were down 29.6% to 269*
- Homes sold up 3.1% to 131
- Homes pended up 24.6% to 177
- The average price per square foot on sold home was up 6.1% to $259
- The days on market were up 1.6% to 130
- The sold/original listing price difference was up 1.1% to 96%
- The average active price was up 5.8% to $752,000
- The average sold price was up 6.7% to $525,000
- The months of inventory based on closed sales was down 29.9% to 2.1
Bend Oregon Home Pending Sales in January Up 24.6%
The increase in Bend home sales in January is astounding. With new sales almost 25% greater in 2019 than in 2018, our typical market with winter months fairly slow is not happening. Whether or not this trend continues remains to be seen. However, at Bend Premier Real Estate, our February sales so far are on track to exceed those from 2019. In an election year, uncertainty of the future can impact real estate sales. But if the current trends continue, we are looking at a truly remarkable year for Bend real estate.
*Data from Central Oregon Association of Realtors February 6, 2020
Original blog can be read at Bend Premier Real Estate.