The 161 closed home sales in Bend last month was the highest number sold in the month of August since 2006, when 215 houses were sold in the midst of the housing market frenzy. Sales volume increased nearly 30% from a year earlier, when just 124 sales were reported sold.
Prices also jumped from year ago levels. The median sale price in August was $209,900, up 19.9% from August 2010 ($175k). In fact, both the median sale price and the median price paid per square foot ($111.71/sf) nearly matched the levels from August 2009 ($210,000 and $112.72/sf respectively).
The combination of lower prices and historically low interest rates has lead to increased activity across the board. Investors are buying houses to rent and earning relatively healthy returns, renters are coming to the conclusion that it makes more sense to buy a home and many families are "upsizing" in to bigger homes and taking advantage of the unprecendented opportunities in today's market.
I think you'll be surprised to find out just how much home you can comfortably afford to buy with today's low rates and prices. Call me to find out.....541.410.9060.
