In August, the Bend residential real estate market continued several trends from July: Active listings increased a bit (up from 836 in July to 852 in August), and sales decreased slightly (down from 257 Closed sales in July to 236 in August).
The majority of the Closed SFR sales (145 of 222 sales) were between $200,000 and $400,000, while all but four of the 21 Closed RW sales were below $650,000. Meanwhile, there were seven million-dollar sales in August, including properties in Pronghorn, Broken Top, Awbrey Butte, downtown Bend, Shevlin Commons (two sales) and a home on 20 acres in southeast Bend. It’s worth noting that four of those seven sales were cash transactions.
Like July, prices are on the rise in Bend. The median sales price for SFR properties sold in August was $325,000 (up from $317,500 in July and up substantially from August 2013, when it was $265,827). And although the median sales price for RW properties sold in August decreased in August (down from $484,000 in July to $440,000), it has increased since June (when it was $414,250) and has risen notably since August 2013, when it was $381,500.
Here are a few highlights of the Bend real estate market in August, based on data provided by MLSCO on Sept. 8, 2014:
Active Residential Listings in Bend: 852 (653 Single Family Residences; 199
Residential with Acreage)
Contingent Residential Sales in Bend: 8 (6 SFR, 2 RW)
Pending Residential Sales in Bend: 188 (174 SFR; 14 RW)
Residential Sales in Bend: 236 (222 SFR; 14 RW)
Average Days on Market: 107 days for Active SFR listings
161 days for Active RW listings
100 days for the SFR listings sold in August
153 days for the RW listings sold in August
Median Sales Price: $375,000 for Active SFR listings
$660,000 for Active RW listings
$325,000 for the SFR listings sold in August
$440,000 for the RW listings sold in August
Single Family Residence: 3.5-month supply (2251 sales in the previous 12 months)
Residential with Acreage: 9.1-month supply (261 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $164,000
Least-Expensive Residential with Acreage Active Listing: $210,000
Most-Expensive Single Family Residence Active Listing: $3,900,000
Most-Expensive Residential with Acreage Active Listing: $9,950,000
Price Point with the Most Active Listings: SFR $250,000-$299,999 (119 listings)
RW: $650,000-$699,999 (19 listings) & $450,000-$499,999 (18 listings)
Thinking of making a move to Bend? I’d love to help you find the perfect Central Oregon property. You can reach me by phone or text at (541) 480-0987 or by email.
About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.