Bend OR Real Estate - April 2020 Trends

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

The first full month of the Covid-19 pandemic impacted Bend single family homes with sales significantly down over the same month in 2019. Some buyers lost jobs which in turn kept them from qualifying for their mortgage. In other cases, sellers took their homes off the market not feeling confident to sell during the stay at home orders. Other buyers delayed their trips to Bend and canceled appointments to view homes. While Bend home sales still are occurring, it is different than it was before Covid-19.

When April 2020 Bend single family home sales are compared with April 2019, the following differences can be noted:

  • Homes available for sale down 16% from 971 to 811*
  • New active listings during the month down 35% from 364 to 236
  • Pending home sales down 41% from 296 to 172
  • Homes closed down 6% from 202 to 188
  • Sold Volume up 1% from $116,745,137 to $118,479,010
  • Average sales price up 9% from $577,946 to $630,208
  • Percentage of list price to sales price unchanged at 0%

Bend Oregon Real Estate Trends

Predictions for Future Bend Oregon Real Estate Sales

There is a misperception in the country that single family home prices have to drop as a by-product of the pandemic. However, the opposite is actually happening. This current recession is a result of a virus, not the result of poor lending practices which caused the great recession of 2008. Housing inventory has still not recovered from great recession and in Bend, we have less than 3 months supply of homes with a balanced market at 6 months. Even though fewer homes are currently listed in 2020 than were in 2019, there are fewer buyers as well, which still leads to home prices rising with demand far outstripping supply.

Now is an excellent time to list a Bend home. Our Brokers know how to sell Bend real estate safely during this challenging time. Give us a call today at 541-323-2779.

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

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Topic:
Real Estate Market Trends
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Oregon Deschutes County Bend
Tags:
bend oregon real estate
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Rainmaker
3,445,357
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Lynnea... seeing very similar trends here in the Charlotte region. Hopefully the corona virus impact won't last long.

May 11, 2020 05:06 AM #1
Rainmaker
451,422
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Nina Hollander . I believe we won't get back to "normal" until we have a vaccine. Being flexible is key to get through this.

May 11, 2020 07:53 AM #2
Rainmaker
650,178
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Thanks for sharing the information on this area, I hope you sell many of these properties. 

Sara

May 18, 2020 12:33 AM #3
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Rainmaker
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Lynnea Miller

Premier Real Estate Service in Central Oregon
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