Sales Statistics for Bend Oregon . . . September 2010
It seems like the buyers are back in town! As we roll into the fall, the real estate market in Bend Oregon enjoyed a pretty active September. We saw sales of 150 homes in Bend . . . up almost 23% from a month ago (See August 2010 Home Sales in Bend), and about even with a year ago (See September 2009).
Sales Trends in Bend
It’s interesting to note that inventory of for sale homes in Bend has dropped again for the month . . . down to 703 units (that’s less 5 months’ supply) from 770 in August. Also down a shocking 40% from just a year ago (1170)! Pending home sales have remained pretty steady.
Median price in Bend moved up almost 9% (to $190,000) . . . perhaps because of the shortage of low end inventory. Roughly 50% of sales for the month were under $200,000.
Range of Prices for Homes Sold in Bend Oregon
The least expensive home sold in Bend in September was a cottage on the NE side, near Juniper Park at $65,000.
The home “has had some updating; it now has windows throughout and is move in ready.” It offered two bedrooms and one bath, and 927 square feet. It also featured a back yard fire pit.
It was built in 1940.
At the high end of the Bend real estate market, once again there no homes that topped the million dollar figure. The most expensive was an unreal 6 bedroom, 5.5 bath, almost 6000 square foot home on Starview on Awbrey Butte; it sold for $875,000.
The home featured “a melding of Italian flair and northwest designs.”
It offered stunning panoramic views of the Cascades. In happier times (2007), it actually sold for $2,000,000.
Bend Oregon Median Priced Home . . . $190,000
The median priced home in Bend Oregon would look much like this hard-to-find single level on the NE side, Terrango Glen. It’s 3 bedroom, 2 bath , and a little over 1500 square feet.
It was built in 1999, and featured vaulted ceilings, gas fireplace, wood floors,
and a three car garage. A lot of house for the money!
Distressed Property in Bend
Of the 150 homes sold in Bend in September, 79 were distressed properties. 47 were bank-owned, and 32 short sales. That represents 53% of the total sales . . . about the same as last month. It will be interesting to see how B of A’s move (Bank of America halts foreclosures in all 50 states) affects this figure.
We saw 350 Notices of Default for the month (up from 305 last month), continuing to ensure a flow of distressed properties on our Bend Oregon real estate market.
