In yet another sign of stability in Bend's housing market, the median price of homes sold in the 4th quarter rose by 6.1% from the 3rd quarter. Probably even more meaningful is that the median sale price per square foot for homes sold over the last 3 months of the year was 2.9% higher than those sold in the July through September period. (These numbers do not include manufactured homes, houses on more than 1 acre of land or condos and townhouses).
High End Homes Beginning To Move
And as I've noted here before, sales of more expensive properties have seen a resurgence lately as well.
There were more sales from $750,000 to $1.5 million in the 4th quarter alone (23) than there were in the previous 3 quarters combined (18)!
Inventory Continues To Shrink
Believe it or not, the overall market in Bend could now be classified as a seller's market! With 673 houses currently listed for sale and 163 closed sales last month, there is only slightly more than 4 months worth of housing inventory available. (6 months is generally considered a "balanced market.") Of course, different price segments of the market yield different results but the lower inventory is good news for Bend's real estate market overall.
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