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Bend OR Real Estate - October 2018 Trends

Written by Posted On Tuesday, 06 November 2018 15:46

Bend OR Home Sales Show Mixed Trends

Bend Oregon Real Estate TrendsWe have noted for the last few months that residential home sales trends in Bend have been changing.  The figures for October, 2018 reflect this change in a manner that we have not seen for some time.  While prices continue to rise, sales have dropped off significantly. The following data compares Bend single family home sales in October 2018 with those from October 2017:

  • Homes for sale down 12.9% to 505
  • Homes sold down 5.2% to 221
  • Homes pended down 16.1% to 188
  • Average price per square foot up 7.7% to $252
  • Average days on market down 1% to 104
  • Sold/Original listing price differential down 2.1% to 95%
  • Average active price up .9% to $641,000
  • Average sold price up 9.3% to $516,000
  • Median sold price up 6.5% to $433,000
  • Months of inventory based on closed sales down 8% to 2.3*

Bend OR Real Estate Market Predictions

While Bend remains a city that Americans across the country are drawn to, the increase in asking price, the increase in interest rates, and the lack of inventory are issues which are impacting our local market. We predict that the market will be in transition for the next few months. We believe that price reductions will become more the norm, especially with those sellers who really need to sell. If interest rates continue to rise, this will further impact the average home buyer and lessen their opportunities, especially in a community where home prices have risen as dramatically as they have in Bend. Our nearby communities, especially Redmond, should see continued growth while Bend adjusts to a changing real estate market.

Bend Oregon Real Estate Trends

 *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

https://www.bendpremierrealestate.com

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