View
214
Download
0
Category
Tags:
Preview:
DESCRIPTION
Welcome to our Bend Real Estate Market Update for the year 2014. These statistics are for stick built homes on 1.0 acre or less in Bend zip codes 97701 and 97702 and do not include manufactured homes, condos, or townhomes. This report uses market data based on transactions that closed from January 1 through December 31, 2014. All statistics come directly from the Central Oregon MLS. In 2014 Bend, Oregon home values increased 7.7% and we ended the year with a median sales price of $289,900. New construction inventory continued to rise, while bank-owned and short sale inventory declined.
Citation preview
Awbrey Butte West Side Three Pines The BrundageSmith Report Northeast Bend Southwest Bend Awbrey Glen Northwest Bend Southeast Bend Summit West Southern Crossing Central Oregon Boyd Acres River West Mountain View Larkspur Orchard District Old Bend Northwest Crossing Skyliner Summit West Side Broken Top Deschutes Landing The BrundageSmith Report Mill Quarter Three Pines Southwest Bend Northwest Bend West Hills Tetherow Summit West The Parks @ Broken Top Old Bend River West River Rim Larkspur Orchard District Park Awbrey Butte Broken Top Northeast Bend Northwest Crossing Braeburn River Rim The BrundageSmith Report Southwest Bend Awbrey Glen Northwest Bend Southeast Bend The Bluffs Summit West Southern Crossing Central Oregon Boyd Acres River West Mountain View Larkspur Orchard Old Bend Northwest Crossing Skyliner Summit West Hills Park
2014 Market Recap
Bend Real Estate Market Update | 2
Bend Real Estate Market Update -‐ 2014 Recap Welcome to our Bend Real Estate Market Update for the year 2014. These statistics are for stick built homes on 1.0 acre or less in Bend zip codes 97701 and 97702 and do not include manufactured homes, condos, or townhomes. This report uses market data based on transactions that closed from January 1 through December 31, 2014. All statistics come directly from the Central Oregon MLS. The first portion of this report looks at the Bend real estate market in its entirety. Latter sections focus on more specific segments of the market.
Bend Market-‐wide Activity At the end of 2014, there were 482 single-‐family homes for sale, 212 pending sales, and 2,243 homes sold in 2014. The number of homes sold is down 0.75% from this time last year but there were only 17 fewer sales. We currently have about 3 months of inventory, which is low and means we’re still experiencing a seller’s market. (Months of inventory is the time it would take to sell all current listings at the current sales pace if no new listings became available.) The most home sales occurred in the $200,000 -‐ $249,999 price range with 533 closed transactions, followed by the $250,000 -‐ $299,999 price range with 436 closed transactions.
ALL SA
LES
Price Range Active Pending Sold Avg DOM $100,000 -‐ $249,999 68 56 756 106 $250,000 -‐ $499,999 275 132 1184 113 $500,000 -‐ $749,999 76 16 225 152 $750,000 -‐ $999,999 35 5 50 153 $1,000,000 + 26 3 28 198
BEND M
ARKE
T-‐WIDE
Thru Q4 of Year 2010 2011 2012 2013 2014 % Change 2013-‐2014
Active Listings 531 495 439 479 482 0.63% Total Sold 1719 1944 2284 2260 2243 -‐0.75% Average Sales Price 260,525 253,998 277,167 317,770 344,650 8.46% Median Sales Price 202,250 200,000 231,500 269,000 289,900 7.77% Avg Days on Market 150 146 142 112 122 8.92%
Bend Real Estate Market Update | 3
Bend Home Values Bend, Oregon home values continue to rise. Compared to this time last year, market-‐wide, the average sales price increased 8.46% to $344,650 and the median sales price increased 7.77% to $289,900.
Home values within the Bend city limits varied significantly, particularly from the west side to the east side. The table below includes the average and median sales prices for NW, SW, NE, and SE Bend.
SALES BY
QUAD
RANT Thru Q4 2014 NW SW NE SE
Total Sold 589 423 665 551 Avg Sales Price 478,848 383,346 254,729 282,291 Median Sales Price 445,000 330,000 241,500 260,547 Avg Days on Mkt 123 107 122 112
Bend Real Estate Market Update | 4
New Construction
At the end of 2014 there were 193 new homes for sale, making up 40% of the active listings. In the MLS, there is a lot of premarketing being done for new construction. Some of the new construction in the MLS is still under architectural review or is pending final permit approval from the city or will be built upon receipt of an acceptable offer, but the majority of the new construction has been completed and is move-‐in ready. Of the 2,243 homes that sold, 532 were new homes, accounting for 24% of all home sales in 2014. Nationwide, new home sales soared to a 6-‐year high in 2014 and Bend was no exception.
We hope you find this market update useful and informative, and we welcome any questions you
may have. If you are interested in a market update for your neighborhood or any other segment
of the market (e.g. bare land or acreage properties) please contact us for a custom report.
Molly Brundage Principal Broker Cheri Smith Broker
541-‐280-‐9066 | mbrundage@total-‐property.com 541-‐788-‐8997 | csmith@total-‐property.com
Web: www.findbendhomes.com | Blog: buyinbend.wordpress.com
Recommended