Category real estate market statistics
The Bend, OR median sales price increased 6% to $440,000. The number of homes sold is down 24% from this time last year, which is not surprising at all considering inventory is also down 20%.
The monumental difference between 2007 and today is the absorption rate, which is the rate at which available homes are sold in a specific market during a given time period. Traditionally, anything above 20% is a seller’s market. In the winter of 2006-2007 the absorption rate hovered around 9% for 6 months straight. This winter, 2018-2019, our absorption rate has been bouncing between 46% and 35%, with a dip in February down to 26%.
Compared to this time last year, the average sales price increased 7.89% to $501,486 and the median sales price increased 7% to $427,000. While we do see signs that the rate of appreciation is slowing, home values are still increasing.
There is a lot of fluctuation from month to month and it is not unusual for the median sales price to decline several times throughout the year, only to rebound and result in an overall increase. We don’t see many signs pointing toward the market cooling and we expect strong price gains to continue over the next couple of years, as do other industry experts.
Bend, Oregon home values continue to rise. Compared to this time last year, the average sales price increased 6.76% to $496,610 and the median sales price increased 6.52% to $425,000.
Bend, Oregon home values continue to rise. Compared to this time last year, the average sales price increased 9.25% to $495,369 and the median sales price increased 8.32% to $422,400. The most home sales occurred in the $300,000 – $399,999 price range with 430 closed transactions.
Bend Real Estate Statistics Q1 2018 Welcome to our Bend Real Estate Market Update for the First Quarter of 2018. These statistics are for stick built homes on 1.0 acre or less in Bend zip codes 97701, 97702 and 97703 and do not include manufactured homes, condos, or townhomes. This report uses market data based […]