The number of closed home sales in Bend last month increased by more than 129% from a year ago. The 165 sales are the most for the month of November since 2005, when 252 sales were reported near the peak of home selling activity in Central Oregon.
Distressed sales continued to account for a large part of the overall number of closed sales, with bank owned/foreclosed properties making up 35.8% (59 houses) of the total sales and short sales an additional 23.6% (39 houses).
Home prices have reached a plateau, at least for the time being. With a median sale price of $116.33/sf, November marked the fourth consecutive month, and the sixth time in the last seven months, that the median sale price has been $113/sf or more.
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