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Bend Or Real Estate | March 2019 Trends

Written by Posted On Wednesday, 10 April 2019 14:36

Bend Oregon Real Estate Sales Down

March 2019 Bend real estate sales followed the trends noted earlier in the year. Although there was a seasonal uptick in March 2019 of  Bend single family residential home real estate activity, new home listings, those in pending status and those sold were significantly down.

  • Numbers of homes for sale down 15.1% to 377*
  • Numbers of homes sold down 27% to 149
  • Numbers of homes pended down 8.6% to 201

Bend OR Home Prices Up

While actual sales are down, the average price of a Bend single family home continues to rise. Comparing March 2018 with March 2019:

  • Average price per square foot on sold homes up 6.3% to $252
  • Average active price up 4.9% to $682,000
  • Average sold price up 8.9% to $536,000

Bend OR Single Family Home Inventory Remains Low

While prices continue to rise with actual sales down, inventory levels of Bend single family homes remain low. The uptick in inventory levels in February may be attributable to heavy snow the second half of the month. In March, inventory levels dropped from February levels, but are still higher than that of 2018. In 2018, Bend had 2.2 months of inventory based on closed sales. In 2019, this figure is slightly better at 2.5 months. Still, lack of inventory remains a problem with Bend real estate.

Predictions For Bend Real Estate

Our blog on New Construction written last month shows that permits for Bend single family homes are down as well. For builders, the price to build a new home is driving their sales price which in turn make overall home prices in Bend rise. This in turn leads to less affordability and builders in certain price points sitting on inventory. There is also a statewide push to encourage multi-family and higher density housing options which may be more affordable, but for many less desirable than single family homes. We predict more of the same for 2019.

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
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