Inventory Levels the Biggest Challenge for Bend Home Sales
January 2022 began the New Year with the same Bend housing market trends we experienced in 2021 - little inventory with a lot of demand. Bend Premier Real Estate Brokers are working with many buyers who are often discouraged when the available homes are sold before they can offer or end up in bidding wars. But with persistence, many of these buyers do successfully close on their Bend home and enjoy the many benefits of homeownership.
Now may be among the very best times to be a Bend home seller. Prices are up, pending sales are up, inventory levels are down, and buyers are paying top dollar for Bend single family homes. Prices reached an all time high in 2021, but they are starting even higher in 2022. We expect Bend homes to continue to experience great demand in 2022 and prices to continue to rise, but perhaps at not as steep a rate as in 2021.
When January 2022 sales for Bend single family homes on less than an acre are compared with those from January 2021, the following changes can be seen:
- Average sales price up 17.4% to $784,756*
- Medium sales price up 17.8% to $683,000
- New listings up 3.5% to 146
- Homes for sale down 68% to 113
- Pending sales up 69.9% to 260
- Sold homes down 14.4% to 131
- Medium days on market up 125% to 9
- Months of supply down 68.8% to half a month
- Average price per square foot up 18.4% to $392
- Medium price per square foot up 19.7% to $364
- Average percentage of list price received down 1.9% to 100.1%
- Dollar volume of sold homes up .5% to $102,803,041
We Need Bend Real Estate Listings!
With home prices up, inventory levels down, Bend home sellers are recognizing the importance of listing now before the typical spring selling season when added competition may impact the sales price. Our Brokers are professionals who know how to price and market a home to best represent it and obtain good offers.
*Data from Multiple Listing Service of Central Oregon
Original blog can be read at Bend Premier Real Estate's blog.
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