Bend Real Estate
As we moved through the “dies caniculares” (dog days of summer),
our Bend Oregon real estate engine continued to rumble on. We saw the sale of 158 homes in Bend . . . up about 30% from a year ago; also up 24% from last month (see Home Sales in Bend in July 2011).
Real Estate Trends in Bend
In August, our for sale inventory in Bend fell to just 627 units . . . that’s only 4 months supply, based on current “sold” figures.
Our Notices of Default (the first stage in the foreclosure process) for the month also remained remarkably low . . . just 163. Thinking optimistically, maybe a sign that our flow of distressed properties will slow to a trickle. Sales seem to corroborate this notion . . . only 41% of total sales were distressed (20 bank-owned, 45 short sales). That’s the lowest figure in years.
Range of Sales in Bend
The low-priced leader was a “1925 charmer” . . . a 2/1, 1197 square foot bank-owned cutie that went for $74,000 or $62 per foot.
The home was located on the east side of Bend, just north of Wilson.
Of note, in 2005, this home in Bend sold for $199,000.
268 Congress St, Bend, OR 97701
The monthly winner at $975,000 was a completely renovated Dutch colonial
in “historic downtown Bend” (those are the listing agent’s words, not mine!). A five bedroom, 3.5 bath, 3952 square foot home, built in 1919.
The home sat on three full tax lots.
It sold for $246 per square foot.
Median Price in Bend . . . $210,000
The median price in Bend continued to yoyo . . . up to $210,000 this month (it was $196,000 in July) . . . perhaps attributable to the disappearing inventory below $200,000.
For that price, one could purchase something like this timeless 1920’s cottage. Two bedrooms, one bath, 1606 square feet, resplendent with a claw foot tub.
Sort of sad commentary, but as they say “it is what it is” . . . this home, in 2005, sold for $347,500!
For more information on real estate in Bend, contact your friendly local expert. Alternatively, search anonymously for homes in Bend.
