Bend Real Estate Market Update Q1 2014

Bend, Oregon home prices in Q1 2014.

At the end of March 2014, there were 556 single family homes for sale in Bend, Oregon, 210 pending sales, and 392 homes sold in Bend during the months of January, February, and March.

Bend home prices Q1 2014

 

Bend, Oregon home values continue to climb. The median home price at the end of March 2014 was $268,070, up 7.23% from the same time in 2013. The average sales price was $317,491, up 8.68% from the same time in 2013. To recap a previous post, in the first half of 2013 we saw home values shoot up 24.5% from the same time in 2012 but by the end of the year, the pace of appreciation slowed to 16.2%. Home values are still increasing but at a much slower, healthier rate.

Median Sales Price for Bend Oregon homes

 

Distressed sales continue to decline. Of the homes that sold in the first quarter of 2014, only 18 were short sales (-64.71% from Q1 2013) and only 15 were bank owned (-37.5% from Q1 2013).
Distressed home sales in Bend Oregon

 

New construction inventory continues to rise. In January 2012 there were only 87 new homes for sale. At the end of Q1 2014 there were 204 new homes for sale. Of the pending sales, 166 are new construction and of the 392 homes that sold, 100 were new homes. New construction accounted for 25.5% of all home sales in the first quarter of 2014.

 

These statistics are for stick built homes in Bend zip codes 97701 and 97702 and do not include manufactured homes, condos, or townhomes. All statistics come directly from the Central Oregon MLS.

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