Wednesday, 22 January 2020
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Bend Real Estate - 2019 Market Recap

Written by Posted On Wednesday, 08 January 2020 15:44

Bend Oregon Home Sales 2019 Show More of the Same

As we move from 2019 to 2020, it is always good to look back and see how the sales from one year may affect the next. For Bend Real Estate in 2019, the trends provided more of the same with lack of inventory impacting home prices, days on market and closed sales.

When the 2018 figures from Bend single family homes sales on less than an acre are compared with those from 2019, the following can be seen:

  • The numbers of homes offered for sale were down 17.2% from 396 to 328 at the end of the year
  • The numbers of homes sold were down 4.2% from 2452 to 2352
  • The number of homes pended were down .8% from 2417 to 2397
  • The average days on market were unchanged at 103
  • The sold/original listing price difference was down 1% from 97% to 96%
  • The average price per square foot was up 6.5% from $243.88 to $259.84
  • The average active price was up 5.8% from $654,000 to $692,000
  • The average sold price was up 6.4% from $501,000 to $533,000
  • The months of inventory based on closed sales is unchanged at 2.5*

What Do Home Inventory Levels Indicate For Bend OR Real Estate?

The graph below shows the months of inventory based on closed sales for Bend single family home sales. The trend has been consistently around 2.5 months of supply which signifies a strong sellers market. There was a bump in inventory levels in February, 2019 which coincides with the heavy winter snowfall; when snow makes it difficult to show homes, it is hard to make sales happen. The sharp decrease in inventory in December is consistent with what we saw at Bend Premier Real Estate. We closed more homes than typical in December, but without a lot of snow, buyers were still actively looking. Over Christmas and New Years, we had more home sales than usual.  Many sellers who listed during this time were pleased to get their homes in contract with strong offers.

bend real estate trends

Our Predictions for Bend Real Estate in 2020

2020 has started off strong. We are only a week into the New Year, but already Bend Premier brokers are writing contracts for buyers anxious to purchase available homes. Traditionally many sellers wait until spring to put their home on the market. For sellers who are willing to list now, the lack of inventory makes all available property easily seen and if the home works for a buyer, it is quickly selling. Barring any major economic disasters, we believe the trends we have experienced for the past 9 years will continue in 2020.

 *Figures from Central Oregon Multiple Listing Service  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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