In September, the Bend residential real estate market eased into fall, with several minor adjustments. For one, the number of Active listings decreased a bit: down from 852 in August to 784 in September. Days on Market (DOM) increased just a hair: Active Single Family Residential (SFR) listings had 112 DOM for compared to 107 in August, while Active Residential With Acreage (RW) listings had 165 DOM, compared to 161 in August.
When it came to sales in Bend, September was a bit of a mixed bag: Closed SFR sales decreased quite a bit (down from 222 in August to 188 in September), but Closed RW sales increased (up from 14 Closed sales in August to 21 in September). Similarly, Pending SFR sales decreased — but only slightly (down from 174 in August to 172 in September), while Pending RW sales increased significantly (up from 14 in August to 31 in September).
Included in the sales mix were a handful of million-dollar sales: one Closed SFR sale, three Closed RW sales, four Pending SFR sales and one Pending RW sale. The bulk of the Closed SFR sales, however, were between $200,000 an $350,000 (114 of 188 sales), while the RW sales were fairly evenly distributed, with one or two sales among almost every price bracket between $200,000 and 1,499,999.
As we head toward winter, the once-again decreasing supply of homes in Bend may become a concern. The already low number (a 3.5-month supply of SFR listings in August) decreased to just a 3.2-month supply in September.
Here are a few highlights of the Bend real estate market in September, based on data provided by MLSCO on Oct. 8, 2014:
Active Residential Listings in Bend: 784 (606 Single Family Residences; 178
Residential with Acreage)
Contingent Residential Sales in Bend: 6 (4 SFR, 2 RW)
Pending Residential Sales in Bend: 203 (172 SFR; 31 RW)
Residential Sales in Bend: 209 (188 SFR; 21 RW)
Average Days on Market: 112 days for Active SFR listings
165 days for Active RW listings
119 days for the SFR listings sold in September
161 days for the RW listings sold in September
Median Sales Price: $369,925 for Active SFR listings
$650,000 for Active RW listings
$282,462 for the SFR listings sold in September
$510,000 for the RW listings sold in September
Single Family Residence: 3.2-month supply (2238 sales in the previous 12 months)
Residential with Acreage: 8.6-month supply (249 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $129,900
Least-Expensive Residential with Acreage Active Listing: $170,000
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 (120 listings)
RW: $550,000-$599,999 (18 listings) & $750,000-$799,999 (15 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.