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Bend Real Estate - April 2019 Trends

Written by Posted On Monday, 13 May 2019 16:24

How High Can Bend Or Real Estate Prices Go?

The April 2019 sales figures for Bend single family homes on less than an acre are out and the results are dramatic. While new home sales surged in April, following a seasonal trend with 252 pending sales, the numbers of homes available and those closed in April are definitely down. And while prices continue to climb, the average days on market are also up. The following compared April 2018 with April 2019 for Bend single family homes on less than an acre:

  • Homes for sale down 13.5% to 397
  • Homes sold down 10.2% to 177
  • Homes pended down .4% to 252
  • Average active price up 6.8% to $694,000
  • Average sold price up 12.4% to $552,000
  • Average price per sq ft up 8.9% to $258
  • Average days on market up 19% to 125
  • Sold/original listing price difference percentage down 10.2% to 88
  • Months of inventory based on closed sales down 4.3% to 2.2*

Will Bend OR Real Estate Prices Impact 2019 Sales?

When we first started noting the slow down in Bend real estate sales the 2nd half of 2018, we were wondering if Bend home prices had reached a point where the average person relocating to Bend was now priced out of the market. The slowing trend has continued, but prices have still continued to rise.  In some cases, the rising prices can be attributed to the booming Bend luxury home market as our data in this blog draws from all Bend home sales. In addition, builders are still lagging behind the demand in building new homes as is reflected in the 2.2 months of inventory based on closed sales.

What Do We Predict for Bend Oregon Single Family Home Sales?

We believe that the rest of 2019 will be more of the same.  Bend homes that are well priced are selling quickly this year, often with multiple offers which drive the price up and result in frustration for buyers that do not have their offers accepted. Homes that are overpriced will not sell, even with inventory levels as low as they are. However, given the current trends, we believe that Bend single family home sales will continue to reflect rising prices.

Bend Oregon Real Estate Trends

 *Data from Central Oregon MLS May 13, 2019   Original blog ca 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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