The Beacon Report, based on real estate statistics from our local MLS, (Multiple Listing Service) released its report of the November 2017 figures on Bend single family residence sales of 1 acre or less. Bend real estate price statistics for November 2017 pretty much followed historical patterns of seasonal decline.
Closed sales in Bend for the month of November 2017 decreased by 33 transactions from October for a total of 195 sales in November 2017 as compared to 228 for October 2017, representing a 14 percent decline from October 2017.
The median sales price decreased from $411,000 in October to $390,000 for November, representing a 5 percent decrease from October, but still 10 percent above November 2016. The median price per square foot also decreased from $214 in October to $200, representing about a 7 percent decline, but still up about 6 percent over November 2016.
The largest share of homes sold were in the $100,000 to $400,000 price range, representing about 52 percent of total home sales, followed by the $400,000-$600,000 range at about 30 percent. The remaining home sales for the higher end of the market comprised about 18 percent.
Building permits issued decreased from 84 in November 2016 to 78 in November 2017. What's not good news for our low inventory is that compared to the 11 months ending November 2016, the year-to-date permits for the 11 months ending November 2017 were down by 8 percent over the previous year.
The good news is that while these figures represent Bend single family residences on one acre or less, Deschutes County's year-to-date new home totals show an 11.8 percent increase over 2016.