I checked and double checked the numbers for January because they were significantly different than the previous few months have been. There are 916 homes for sale, 152 contingent sales, 224 pending sales, and only 124 homes sold in January. Not only were sales down, the median home price was down to $182,950. It’s important to note that only 11 homes sold over $500,000 and not a single home sold over $1,000,000. In December 2009 18 homes sold over $500,000 and 4 of those were over $1,000,000. In November 2009, 19 homes sold over $500,000 and 4 were over $1,000,000. That does have an impact on the median home price. Let’s look at November 2009 as an example. The median home price was $235,000 with 8 homes selling over $800,000. In January the median home price was $182,950 with 2 homes selling over $800,000. If I run the stats for November and only include homes that sold below $800,000 the median price goes down from $235,000 to $216,000.
View the complete stats: January 2010
On the distressed property front, there were 402 notices of default filed in Deschutes County in January, the highest number since the market started to decline. Notices of Default Graph This was a surprise to some since the 4th quarter trend for 2009 showed that the number of notices of default filed had declined. It’s likely that foreclosure activity slowed because homeowners were attempting to secure loan modifications.