1687 stick-built houses on less than one acre in Bend were sold last year, an increase of 7.9% from 2009.
The mix of sales was little changed from a year earlier. 723 of the houses sold (42.9% of the total) were "traditional" sales, while 579 (34.3%) were foreclosures and 385 (22.8%) were short sales.
In 2009, 680 (43.5% of the 1564 houses sold) were "traditional" sales, 564 (36.1%) were forclosures and 320 (20.5%) were short sales.
More than half of the 123 additional houses sold in Bend last year were short sales, while only 15 were foreclosures. 43 more "traditional" sales closed in 2010.
On a price per square foot basis, the median price was down 6.6% from a year earlier. In my next post, I will cover some very interesting details of what accounted for most of the price decrease.
In the meantime, if you or someone you know is considering a move, please call me. I represent both buyers and sellers, have experience in handling the sale of traditional, short and foreclosure properties and am recognized as a Certified Distressed Property Expert by the Distressed Property Institute.
Monday, January 31, 2011
Thursday, January 27, 2011
Bend Home Sales, Prices Down In 4th Quarter
Data garnered from the MLS of Central Oregon shows that both the pace of sales and home prices declined from a year earlier in the 4th quarter.
441 sales were reported sold in the October thru December period, a decline of 15% from the same period in 2009, when 519 houses closed escrow. Though down on a year-over-year basis, sales volume increased by 21 houses (5%) when compared to the 3rd quarter of 2010.
Prices also declined in the 4th quarter. The median sale price of homes sold during the last 3 months of 2010 was $185k, with a corresponding price per square foot of $99.73. In 4th quarter of 2009, the median sale price was $216,745 and the price per square foot was $111.72.
Home buyers, including investors, are taking advantage of the lower prices. The amount of housing inventory for sale compared to the pace of sales reached its lowest level in nearly 5 years in December, with only 3.9 months of inventory available. This equates to an absorption rate of 25.7%, or more than 1 in 4 houses listed for sale being sold in the last 30 days. We haven't seen numbers like this since the Spring of 2006!
If you've entertained the thought of selling your house, you'll have less competition now than at any time in almost 5 years! Call me to find out what you can sell your house for today and how long you should expect it to take to sell.
441 sales were reported sold in the October thru December period, a decline of 15% from the same period in 2009, when 519 houses closed escrow. Though down on a year-over-year basis, sales volume increased by 21 houses (5%) when compared to the 3rd quarter of 2010.
Prices also declined in the 4th quarter. The median sale price of homes sold during the last 3 months of 2010 was $185k, with a corresponding price per square foot of $99.73. In 4th quarter of 2009, the median sale price was $216,745 and the price per square foot was $111.72.
Home buyers, including investors, are taking advantage of the lower prices. The amount of housing inventory for sale compared to the pace of sales reached its lowest level in nearly 5 years in December, with only 3.9 months of inventory available. This equates to an absorption rate of 25.7%, or more than 1 in 4 houses listed for sale being sold in the last 30 days. We haven't seen numbers like this since the Spring of 2006!
If you've entertained the thought of selling your house, you'll have less competition now than at any time in almost 5 years! Call me to find out what you can sell your house for today and how long you should expect it to take to sell.
Wednesday, January 26, 2011
Bend Home Sales Volume Stable, Distressed Properties Lead The Way
Home sales in Bend continued at a relatively healthy pace in December, with 154 single family, stick-built houses on less than an acre of land closing escrow during the month. This represents an increase of 15.8% from November sales but is down 4.3% from a year earlier.
Bank-owned (foreclosures) and short sales continued to make up the lion’s share of home sales last month. Of the 154 houses sold, 63 were bank-owned (41%) and 38 were short sales (25%). Taken together, distressed sales accounted for nearly 2 out of every 3 houses sold in Bend last month.
Saturday, January 22, 2011
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