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Bend OR Real Estate | July 2017 Trends

Written by Posted On Friday, 11 August 2017 21:06

Bend Or Home Sales Remain Flat While Prices Rise

 July 2017 single family home sales followed the trend set in April - consistent and steady. Although there was a significant increase in inventory, the actual closed sales were down 3.2% from the year before and the pended sales were unchanged from 2016.

The chart below shows that Bend single family home prices continue their upward trend with the average price per square foot now at $247. This is a figure never seen before in Bend and may be a contributor to the decrease in the number of new sales.

BendRealEstateTrendsHome prices continue to rise following the trend over the last 5 years. When July 2017 is compared with July 2016, the following changes can be noted for Bend single family home sales:

Number of homes for sale are up 13.6%

Average sold price is up 7.7%

Average active price is up 3.9%

Average sold price per square foot is up 14.4%

Months of inventory is up 17.2%

Bend's average asking price for a single family home is now $658,000 and the average sold price is $478,000.*

The question has to be asked - have we reached a price for a Bend home that is beyond what the majority of people moving here are willing to pay? Does the flattening of sales reflect a new trend or just an anomaly resulting from our difficult winter, smoke filled skies, abnormally hot summer and upcoming eclipse hype? We will continue to follow the data and see how they impact Bend real estate.


*Data from Central Oregon MLS 

 Original Post can be seen at Bend Premier Real Estate's blog.
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Lynnea Miller

Owner/Managing Principal Broker Bend Premier Real Estate.

Lynnea began her real estate career when her husband became a general contractor in 1994. After years of working with her husband and selling many homes "for sale by builder," Lynnea got her real estate license in 2000 and began working at a local brokerage, first as part time Broker and marketing director for the company, and later as full time office manager/marketing director/transaction coordinator, and then as Principal Broker. In 2010, Lynnea started her own brokerage, Bend Premier Real Estate, with the encourage of her husband and several Brokers.

Prior to real estate, Lynnea worked for 9 years with her husband in the ownership and management of 3 retail Bend, Oregon businesses with up to 35 employees. Before moving to Bend in 1985, Lynnea worked in homeowner association property management, being promoted in the space of 1 year from Customer Service, to Property Manager, to District Manager.

Lynnea graduated from the University of Oregon Summa Cum Laude in 1983 with a Bachelors of Science degree and graduate first in her high school class in 1979. Lynnea and her husband have 3 adult children. Lynnea also teaches fitness classes part time, holding an ACE certification since 1990

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