1683 stick-built, single family homes were sold in Bend last year, 7 fewer than the total reported for the year 2010, but offering another indication that the area housing market has stabilized following the implosion of a few years ago.
After hitting a low of just 1120 closed transactions in 2008, sales rebounded to 1561 closings in 2009 and rose again the following year to 1690. Though I still meet people everyday who mistakenly believe "houses aren't selling in Bend," the number of closed sales over the past few years is comparable to the "pre-boom" years, such as 2002, when 1526 houses were sold (in my opinion, the "boom" began in the 2nd half of 2003 when 1021 sales were recorded in the last 6 months of the year).
Prices, when measured on both a median sale price and price per square foot basis, were nearly identical from a year earlier. The median price paid for houses sold in 2011 was $190,000, versus $190,500 in 2010. While the median sale price was down slightly last year, the average price per square foot paid in 2011 actually rose to $104.91/sf, from $104.38/sf in 2010.
If you're curious to find out what your home is worth today, please call me at 541.410.9060.
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