There are currently 1147 homes for sale (up quite a bit from January), 198 contingent sales, 345 pending sales (way up from January), and 128 homes sold in February 2010. The median home price was $193,000, up a little bit from the median sales price of $182,950 in January 2010.
Of the 128 homes that sold, 50 were bank owned (39%) and 28 were short sales (22%), so 61% of the sales were distressed properties. The median sales price of the bank owned homes was $171,250 and the median sales price of the short sales was $186,250. The median sales price of the traditional sales was $260,000.
Of the 1147 homes for sale, only 76 are bank owned (about 7%) and 199 are short sales (about 17%). 24% of the homes for sale are distressed properties. The fact that the number of pending sales is as high as it was in September and October of 2009 tells me it’s likely 1st time buyers or buyers looking to take advantage of the tax credit. With the April 30th deadline looming, buyers are back in the market after taking a hiatus in January.
This table provides a break down of property types:
View the full Bend Real Estate Statistics: February 2010
Here’s a look at the last 6 months: