The Beacon Report, which is based on real estate statistics from our local MLS, recently came out with December 2016 figures which allow some interesting comparisons to last year's Bend single family residence sales of 1 acre or less.
According to the report, closed sales in 2016 increased by about 4 percent over the prior year. Not only were more homes sold, but they were sold at a higher price as reflected in the median price increase of about 8 percent.
The largest share of homes sold was in the $100,000 to $350,000 price range at about 48 percent of total home sales. Another 16 percent of home sales fell in the range of $350,000 to $500,000. The remaining home sales for the higher end of the market comprised about 36 percent of the remaining market, with the $500,000-$800,000 price range comprising 19 percent of those sales.
The inventory level remained at about two months. Most industry analysts feel that a four to six month inventory level is needed for a balanced market that favors neither buyers nor sellers. Most of these analysts are also saying that new construction is not keeping up with housing demand.
21771 Obsidian Ave., Bend, OR 97702
4 beds, 2 baths, 2,640 square feet, 1.93 acre lot
Built in 1975
Listed by Fred Real Estate Group
20565 NE Boyd Ct., Bend, OR 97701
4 beds, 2.5 baths, 2,675 square feet, .12 acre lot
Built in 2006
Listed by Alpine Real Estate
61519 NW Cultus Lake Ct., Bend, OR 97702
4 beds, 4.5 baths, 3000 square feet, .21 acre lot
Built in 2004
Listed by Strategic Realty LLC