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Culture » Take Me Home

Real Estate Statistics for March 2017

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The Beacon Report, which is based on real estate statistics from our local Multiple Listing Service (MLS) released its reports of the March 2017 figures, which allows some interesting comparisons to last year's Bend single family residence sales of 1 acre or less.

According to the report, closed sales in Bend for the month of March 2017 increased by 38 transactions over February 2017. Not only were more homes sold, but they were sold at a higher price as reflected in the median price increase of about 14 percent from the prior year from $347,000 in March 2016 to $396,000 in March 2017. The median price per square foot decreased from $205 in February 2017 to $198 for March 2017, but up from $179 in March 2016.

The largest share of homes sold was in the $350,000 to $500,000 price range, comprising about 45 percent of total home sales, followed by the $100,000-$350,000 range at 32 per cent. The remaining home sales for the higher end of the market comprised about 23 percent of the remaining market, with the $500,000-$800,000 price range comprising 70 percent of those sales.

Building permits issued increased from 69 in March 2016 to 91 in March 2017, and inventory levels continue to remain tight at about 1.5 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.

LOW

515 S.E. Woodland Blvd., Bend, OR 97702

2 beds, 1 baths, 1,178 square feet, .11 acre lot

Built in 1930

$184,900

Listed by Hasson Company Realtors

MID

61751 Bridgecliff Dr., Bend, OR 97702

3 beds, 2.5 baths, 2,314 square feet, .26 acre lot

Built in 1989

$365,000

Listed by Total Property Resources LLC

HIGH

3202 N.W. Starview Drive, Bend, OR 97703

3 beds, 3.5 baths, 4,582 square feet, .51 acre lot

Built in 2012

$1,850,000

Listed by Bend Premier Real Estate LLC

Photos and listing info from Central Oregon Multiple Listing Service


About The Author

Nick Nayne, Principal Broker

Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.

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