Despite widespread reports of buyers having difficulty obtaining loans and a slowing economy, September sales reported to MLS show that 119 stick-built houses on less than one acre were sold in Bend. This is the highest number of sales reported in at least a year. A year ago, 114 houses were reported sold in September. The 119 houses sold last month is also a big improvement from the 97 reported sold in August.
In addition, the amount of time it took to sell a house in the just completed 3rd quarter was less than a year ago. The median days on the market (DOM) for houses sold in the 3rd quarter was 137 days. A year ago it took more than 2 weeks longer, with a median DOM of 153 days. And the pace quickened even more last month, to a median of 132 DOM.
The median price of houses sold in September was $277,900, 16.2% less than a year ago.....and 26.8% below 2 years ago.
On a price per square foot basis, the change is even more dramatic; last month, the median sale price per square foot for stick-built houses on less than an acre in Bend was $139.3/sf. A year ago, this number was $182.7/sf and in September 2006, it was $197.8/sf.
There are plenty of great houses to see (about 1500 are listed for sale in Bend) and interest rates are still near historical lows (around 6% for a 30 year fixed rate)
If you haven't looked in a while and are curious to see what you can get for your money now, or you want to know what your house is worth in today's market, call me, with no obligation, of course.
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