Friday, June 12, 2015

Bend Oregon Expanding Housing Market

June 2015 Market Report

An update on our expanding economy.

The single family residence showcase in Bend is expanding but at a slower rate than it was in 2013-2014
Over the previous year, there have been 37 offers of $1 million and over single family residence properties in Bend. That is a huge build contrasted with the June 2014 report, which demonstrates that the quantity of offers in the $1 million and over was 21.
Redmond had a critical increment in median sale price a month ago, $242,000. It is not strange for a sharp build or decline to happen in these studies. The next few months will help us understand if this increase is abnormal or a legitimate adjustment.
Inventory in Redmond was 4.5 months in May 2014, which is down during this time to around 3 months.
The median cost of a single family home in Bend scaled in May to $325,000, while sales spiked and homes spent less days waiting for buyers to purchase them, as indicated by the monthly report from the Beacon Appraisal Group, in Redmond.
The median home price has increased by 5 percent between April and May, and by 9 percent over May 2014, according to the report. The median amount of days houses are on the market dropped in May to 67, continuing a steady decline from a four-year high of 137 days in February.
The less inventory the better. That means homes in Bend are seen by twice the number of buyers than it was in the beginning of 2014, he said. West-side homes for sale go pending quickly and often after several offers, he said.
The amount of homes listed for sale under $300,000 in Bend declined in May to about 110. Like the housing boom that peaked in 2008, finding a house under $300,000 in the city will soon become more difficult.


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