What's Going On In Real Estate in Bend | Take Me Home | Bend | The Source Weekly - Bend, Oregon

Your support for independent local news is important.

The Source Weekly has been Central Oregon’s locally owned news outlet for over 23 years. We have always been the definition of "support local." Our success in navigating this new world is tied to the success we experience in pulling together for the common good.

Quality local journalism takes a group of dedicated reporters passionate about democracy and open government. This story is the result of our hard work, and in normal times, the result of the support of the advertisers in Central Oregon. In the age of COVID-19, however, that support has taken a hit—but that’s where you come in.

Before you read on, we ask you to consider becoming a member of our Source Insider membership program at bendsource.com/insider.

Support Us Here

Culture » Take Me Home

What's Going On In Real Estate in Bend

by

comment



The Beacon Report, based on real estate statistics from our local MLS, released its report of the September 2017 figures—allowing us to compare last month's and last year's Bend single family residence sales of 1 acre or less.



Closed sales in Bend for the month of September 2017 decreased by 40 transactions over August 2017, for a total of 206 sales as compared to 246 in August. The median sales price increased slightly from $414,000 in August to $418,000 for September. Not only were fewer homes sold and at a higher median sales price, but they were sold at a lower price per square foot, as reflected in the median price per square foot decrease of about 1.8 per cent from August. The median price per square foot decreased from $220 for August 2017 to $216 for September 2017, and up from $201 in September 2016.

Sales for September were mainly among the low and middle price points. The largest share of homes sold were in the $100,000 to $400,000 price range comprising about 45 percent of total home sales, followed by the $400,000-$600,000 range at about 32 percent. The remaining home sales for the higher end of the market comprised about 23 percent.

Building permits issued decreased from 94 in September 2016 to 66 in September 2017 and inventory levels continue to remain tight. 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.



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.

Add a comment

More by Nick Nayne, Principal Broker