Bend Real Estate - September 2021 Trends

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

Are Bend Oregon Real Estate Sales Returning to Normal?

Are we getting back to a normal, seasonal adjustment to Bend real estate sales? Typically Bend single family home sales drop off in the fall once children start back to school and regular fall activities resume.  Bend's usual homebuyer in the fall includes retirees, the second home buyer and investors.  However, Bend home sales fall of 2020 did not drop off with homebuyers snapping up available property at amazing levels through the end of October. Sales remained above normal even through the holidays.

As we reported in an earlier blog this year, Bend home sales started shifting from the frantic buying seen over the past 12 months to a more normal level in July, 2021 and this trend has continued through September. Although well priced properties are still experiencing multiple offers, the persistence of many potential homebuyers who did not give up is being rewarded. Most Bend homebuyers are finding properties, often without any other offers, and the normal process of negotiations and counter offers is refreshing to see. It is still a strong sellers' market, but not at the levels we experienced over the past year. We are also seeing sellers who priced their properties above market earlier in the year to see them not sell being willing to adjust the price to a more competitive value. It is a much better time for buyers to find a home that they can afford and fits their needs.

When September 2021 sales for Bend single family homes on less than an acre are compared with September 2020, the following trends can be noted:

  • Average sales price up 18.3% to $789,154*
  • Median sales price up 18.2% to $650,000
  • New listings down 15.4% to 231
  • Homes for sale down 52.7% to 281
  • Pending sales up 39.9% to 414
  • Sold homes down 20.5% to 233
  • Average days on market down 29% to 22
  • Median days on market up 40% to 7
  • Months of supply down 57.1% to 1.2
  • Average price per square feet up 26.8% to $383
  • Median price per square feet up 32% to $355
  • Median % of list price to sales price 100% - unchanged
  • Dollar Volume of closed sales down 6% to $183,872,990

Between downward price adjustments on already listed homes, growing inventory levels, and the rate of price gains on new listings leveling, we are seeing our Bend housing market returning to more normal fall trends. Whether or not this trend remains will be determined by continued buyer demand, new inventory hitting the market and fluctuations in mortgage interest rates.

Bend Real Estate

 

Original blog can be read at Bend Premier Real Estate's blog page.

Comments (5)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Lynnea Miller thank you for sharing very good Bend real estate report for September 2021.

Oct 08, 2021 02:47 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Thank you, John Pusa !  It is interesting to see how the market is changing.  I personally prefer a more balanced market.

Oct 08, 2021 09:36 PM
John Pusa

You are welcome, Lynnea Miller more balanced market is much better.

Oct 09, 2021 11:14 AM
Ritu Desai 703-625-4949
Samson Properties - Ashburn, VA
Northern Virginia,Washington DC & Maryland Realtor

Great information about the market changes, Lynnea! Thank you

Oct 11, 2021 01:13 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Take care, be safe and have an outstanding day.

Oct 13, 2021 08:19 AM