Sales in Bend
Sales activity in Bend Oregon continued at a fairly level pace for June . . . we saw the sale of 139 homes. That ‘s down a bit from the 171 in May (May 2011 home sales in Bend), but still a reasonable number.
Bend Real Estate Trends
As expected, for sale inventory rose in Bend for June (it’s logical for folks to list their homes at the beginning of summer) . . . there were 623 active listings, up appreciably from the 533 in May. The increased number of listings also meant that our months of available inventory climbed to a number we haven’t seen in almost a year–4.8. That’s still a very healthy figure. To most pundits, an inventory of 6 months represents the line between a buyer’s and seller’s market.
The Notices of Default (the first stage in the foreclosure process) for June dropped to 186; maybe signaling that our flood of distressed properties is beginning to ease. In fact, the number of short sales (37) and bank-owned (27) represented just 46% of our month’s total.
Median Price in Bend . . . $216,000
The median price in Bend bumped almost $30,000 to $216,000. That was in part due to the dearth of low end product (under $200,000) available. 62 homes sold in that range, and there is presently just 2.3 months of inventory.
The median priced home in Bend might look something like this short sale . . . 4 bedrooms, 2.5 baths, and 2840 square feet.
It was listed at $199,000 and sold for $215,000. That sounds pretty good, until you realize that in 2006, it sold for $393,000. Listing remarks said that it showed “like new . . . with granite, tile, and wood.”
It offered views of the Sisters and a rather nifty wall that separated it from bustling 27th. Street.
High End Bend . . . $1,099,999
The winner for the month was a classic, built in 1923, and listed with the National Register of Historic Places. This 4784 square footer on NW Congress sold for $1,099,999 (I like all the nines too!) or $233 per square foot.
It featured 5 bedrooms and 3 baths; the lot was 1/4 acre. It was located just two blocks from Drake park.
According to the listing agent, the “impeccably updated home felt brand new, while enhancing an preserving its character and integrity” . . . that’s a lot of syllables!
The home featured a 900 million bottle wine cellar.
As a footnote, it sold in 2006 for $1,429,000.
Low Priced Leader . . . $75,000
I apologize in advance for the crummy pictures, complete with date stamp and all. Someday, I’ll do a post on photography. Regardless, the low-priced leader was a “nice ranch style home in town” midway between the train tracks and Vince Genna Stadium.
The home was 3/1 and 1036 square feet; built in 1979. It sold for $75,000 or $72 per square foot.
I’ve only included the above photo, because it’s probably the lamest listing photo I’ve ever seen.
Contact an expert to find out more about homes in Bend.
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