October 2010 . . . Home Sales in Bend Oregon
The fine fall weather (300 days of sunshine a year!) continued in Bend in October, punctuated by some wet and blustery arctic outbursts that left Mt. Bachelor with over 20″ of snow, and, on a clearing day, yielded the fine photo above. Real estate activity in Bend wasn’t bad either . . . we saw the sale of 149 homes; almost identical to the 150 sold in September (See September’s Statistics). A year ago in October, 180 homes sold.
Bend Real Estate Trends
We saw the median home price move up 8% . . . from $190,000 to $205,000. Still amazing to consider the high of $380,00 in September of 2006. The low end of the real estate market in Bend Oregon remained very active; almost 50% of total sales were under $200,000.
Range of Home Sales in Bend
The winner for the month was a wonderful Norman Building and Design home on Awbrey Butte that sold for $1,020,000 (the only home in the million dollar plus category).
It featured 3 bedrooms and 3.5 baths, 3784 square feet; that translates to $269 square foot. The home in Bend had gorgeous Brazilian cherry flooring, a great room plan,
breath-taking Cascade mountain views. It sat on a nice 1.17 acre parcel. The home was on the market for almost a year, and was originally listed at $1.3 M.
At the low end of the Bend Oregon real estate spectrum was a 3/1, 1360 square footer that sold for just $65,000.
The marketing remarks in Central Oregon MLS stated that the home had “a new kitchen plus three bedrooms. It needs a little TLC.”
I don’t know what you can expect for less than $50 per square foot . . . maybe a few decent photos. I should refrain from editorial comment, but these photos are an embarrassment.
The home was located off of SE Wilson, just a quick jog to Vince Genna Stadium . . . home of the Elks.
I felt bad about those previous remarks, so tried to inject a little levity (and show off my technical acumen) by inserting the lame “youtube” video.
Bend Oregon . . . Median Price of $205,000
The prototypical median-priced home would like much like this 3/2.5, almost 1900 square foot home on Hollygrape in SW Bend.
A former Woodhill Homes model, it offered stainless appliances, granite tile, hardwood floors, and a walk-in pantry.
Not bad.
Notable October Sales in Bend
We had a decent month in October. Pictured below are a few of our sales. E. Cambell at $399,000.
Sage Stone at $339000
and Benham Road at $375,000
Distressed Property in Bend Oregon
Of the 149 homes sold in Bend, 83 (56%) were distressed properties. 48 were bank-owned, and 35 were short sales.
We also saw 284 notices of default (for many, the first stage in the foreclosure process) in Deschutes County for the month. That’s down from the September figure of 350, however, still enough to ensure that the pipeline of distressed inventory will remain full for the foreseeable future.
