Monday, 21 January 2019
Agent Resource Center
This Old House - Do-it-Yourself

Bend OR Real Estate - July 2018 Market Trends

Written by Posted On Wednesday, 08 August 2018 09:25

Are Bend Home Sales Leveling Off?

The July 2018 figures are out and there has been a change in the sales trends for Bend single family homes. Since coming out of the great recession, home sales in Bend have been strong with pended and sold trends consistently higher than those from the year before.  While the average price per square foot continues to rise, the actual numbers of homes sold and pended are down.  When July 2018 is compared with July 2017, the following data can be noted for Bend single family homes on less than an acre:

  • Homes for sale down 2.9% to 643
  • Homes sold down 6% to 233
  • Homes pended down 4.3% to 222
  • Average active price up .6% to $654,000
  • Average sold price up 5.5% to $502,000
  • Months of inventory based on closed sales up 3.7% to 2.8
  • Average price per square foot up 2.8% to $253*

What are the Trends Telling Us?

Although one month of change does not necessarily mean we have a new trend, the fact that most of the figures are down over the year before is interesting. We have also seen asking prices varying little over the past year. During the summer of 2017, much of Central Oregon suffered from several large forest fires which resulted in smoke filled skies and people unable to enjoy the outdoor lifestyle people move here to experience. This summer our local fires have been small and the skies relatively clear most of the season, but the home sales trends are down. Whether or not this means we are entering a time of home price correction remains to be seen.

Bend Oregon Real Estate Trends 

* Figures from Central Oregon MLS.  Original blog can be seen at Bend Premier Real Estate's blog.

Rate this item
(0 votes)
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
Set it and forget it Marketing, Agent Trusted for 21 years. Take advantage of our year-end special - Click Here

Search by State:

Agent Resource

How to capture your next prospect - click here

Realty Times TV

View More

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.