Real Estate in Bend Oregon . . . November 2011
We did get some positive unemployment news, but, still, the Bend Oregon housing market continues to stumble onward.
November brought the anticipation of Mt. Bachelor’s opening,
cold north winds, Thanksgiving (and much to be thankful for!), and a rather frosty 119 sales of homes in Bend. That’s down almost 18% from October’s figure and off a little over 10% from a year ago.
I think I’ll throw in a little Facebook humor just to liven things up:
Trends in Bend Real Estate
We saw the median price for a home in Bend drop to just $167,000 . . . the lowest number in almost a year; probably more a commentary on the lack of high-end sales than an evil trend. We also saw our for sale inventory continue to plummet . . . to just 559 units. Even with the paltry sales figures, that’s just 4.7 months of inventory.
Notices of Default also fell to numbers not seen in years . . . just 114 (that’s more than 10% below last month’s figure). Likewise, sales of distressed properties in Bend declined for the month of November–just 63 (26 bank-owned, 37 short sales).
Homes Sales in Bend . . . Price Ranges
The lost leader for the month was “a great 3 bedroom, 1 bath home in SE Bend . . . near Vince Genna Stadium.”
The 1036 square foot home had a kitchen.
It was bank-owned, and sold for $80,000 or $77 per square foot. in happier real estate times (2006), it sold for $205,000.
High End . . . Bend Homes
Nothing near the $1 million mark this month. The winner was a “beautiful 5232 square foot home on Awbrey Butte. The 4 bedroom, 3.5 bath beauty went for $700,000 . . . or $134 per square foot.
It offered 3 distinct living areas, a private office, main level master, cherry wood kitchen with granite,
and an extensive wine cellar (all good stuff!).
I always hate to throw a damper on things (especially when I’m still contemplating all that excellent wine) . . . in 2007, this home was listed for $1,250,000.
Other Notable Sales
This one doesn’t show up in the record books, but it’s still a significant sale. A cabin at Brasada Ranch, a most difficult short sale finally closed. The realtors did an incredible job!
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