Housing Market Sees Steady Growth

By Erin Rook

Homes sales in Deschutes County are up over the same time last year, according to the November 2015 TrendVision report published by the Central Oregon Association of Realtors.

In October, the market saw the start of a seasonal drop-off, with 480 homes sold—down from 549 in September, but slightly above the 461 sales in October of 2014.

But it's not just the total number of houses sold that's increased, it's also the ration to homes listed. There were almost 200 more homes on the market last year in October. While the number of listings decreased by about 10 percent, the number of sales went up by 4 percent and the number of pending sales jumped by 22 percent.

With the housing inventory tightening up from almost 5 months supply last fall to just over 3 months now, it's a seller's market. That means buyer's should be prepared to pay more. The median home sale price has also slowly, but steadily, crept up over the past year from $258,000 in August 2014 to 300,000 in October 2015.

Here is a cross-section of the current listings.

LOW

Undisclosed address, Bend, OR 97702 (Near Third and Railroad)

2 beds, 1 bath, 748 sf, built in 1925

$110,000

Listed by Kozack Property Management

MID

Address: 155 NW Adams Pl, Bend, OR 97701

For Sale: $349,000

2 Beds, 1 Bath, 1,284 sqft, built in 1916

Listed by Central Oregon Living

HIGH

Undisclosed Address, Bend, OR 97702 (Near NW Bond and Colorado)

3 beds, 3.5 baths, 3,499 sf, built in 2006

$1,195,000

Listed by Bend Premier Real Estate