125 stick-built houses on less than one acre closed escrow last month, the highest total for January since 135 were sold in 2007.
Sales increased more than 21% from a year earlier, and nearly doubled the anemic volumes of both January 2009 and 2008, when just 69 and 75 houses were reported sold respectively.
The increase in sales is directly related to the decrease in prices. January's median sale price was $191,000, or $104.66 per square foot. This is down 6.6% from a year earlier and more than 41.5% from January 2007, when the median sale price for the month was $327,900, or $178.98 per square foot.
Combined with interest rates still near historical lows (the rate on a 30 year fixed is around 5%), now really is a fantastic time to buy property in Bend and throughout Central Oregon. Call me today to find out how you can take advantage of the great opportunities in today's market.
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