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Bend Real Estate - September 2018 Trends

Written by Posted On Monday, 08 October 2018 15:16

Bend Oregon Single Family Home Sales Are Slowing

We wrote a blog a few weeks ago in which we noted that it appeared that Bend Oregon single family home sales were slowing when compared with the year before. This blog, "Is the Central Oregon Real Estate Market Slowing Down?"  looked at inventory levels and showed that there was an uptick in the number of single family homes in Bend, Redmond and Sunriver for sale from the same 12 month period the year before.

The September statistics have now been published for Bend home sales and it appears that the slowing trend is continuing. When September 2018 Bend single family home sales on less than an acre are compared with September 2017, the following change can be seen:

  • Homes for sale down 5.8% to 596
  • Homes sold down 6.2% to 195
  • Homes pended down 5.6% to 202
  • The average price per square foot up 1.3% to 236
  • Average days on market up 1% to 99
  • Average active price down 1.7% to 636
  • Average sold price down 1.5% to 474
  • Months of inventory based on closed sales up 3.3% to 3 months**

Bend OR Real Estate Trends

What Can We Predict for Bend Or Real Estate?

Although the timeline is relatively short, the trends are showing a downward tilt for Bend home sales. Rising mortgage interest rates, lack of inventory, and rising home prices have had an impact on home sales in Bend. Have we reached the tipping point in which our seller's market will become more balanced?  We need a few more months of following the data to see if this change in the Bend Oregon single family home sales is an anomaly or the start of a new Bend real estate market trend. 

**Data from Central Oregon MLS  Original blog can be read 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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