For the third in the last four months, sales of existing homes on less than one acre in Bend nearly matched the number reported a year earlier. 81 sales were reported in October, compared to 83 in October 2007.
Prices held up pretty well overall also. The median sale price per square foot of existing houses on less that an acre was $158.4/sf in October, versus $161.2/sf a year earlier. (Keep in mind that the $/sf figure is useful in gauging the health of the market overall and not for determining the price of one specific property.)
With prices down substantially from the highs of 2005/2006, more buyers are out looking to see what they can get for their money. And many are happily surprised to find out they can now buy a house that they couldn't afford a year or two ago.
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