Bend’s Pending Sales Soar
Big news in Bend Oregon real estate for the month of February was the soaring rate of pending home sales. 195 homes in Bend went pending . . . that’s the highest number in almost four years, and, perhaps an indication of some sunnier weather ahead.
Notices of Default Down in Deschutes County
Another positive sign of real estate in Bend was a continuing decline in NOD’s–just 143 for the month (throughout much of 2009 and 2010, NOD’s ran between 250 and 400 . . . with a colossal high of 581 in May of 2011.
134 Homes Sold in Bend in February
We saw the sale of 134 homes in Bend . . . that’s up almost 21% from last month (Homes in Bend . . . January), and probably right about where we ought to be for a community our size.
We also saw our for sale inventory drop to what appears to be an all-time low . . . just 422 units. That’s down a shocking 70% from just three years ago.
Median Price in Bend . . . $199,000
We saw the median price for a house in Bend increase for the third consecutive month . . . up about 5% to $199,000. Your typical median-priced home would look much like this
three bedroom, two bath, 1705 square foot home in Mountain Pines.
Cute Little Log Cabin in Bend
Tired of all those million dollar plus “McMansions,” humongous wine cellars, and pretentious theater rooms with butt-thumping amps? No, neither am I. But this one still might be for you. The least expensive home sold in Bend in February was a 1/1, 770 square foot “cute little log cabin”
in Deschutes River Woods. It was built in 1983 and sold for $53000 . . . or $69 per square foot. It was on the market for 515 days.
I don’t know why I use these pictures?
High End Bend . . . $797,000
Though the low end of the market (under $200,000) is extremely active, the upper end is still taking a beating. Witness the most expensive home sold in Bend for February . . . a 4244 square foot, 6/4.5 family home on an estate lot in The Parks
. . . it was a Tour of Homes contender in 2007 (I think it would have been a winner had the judges been more predisposed to the trendiness of black and white decor). It sold for $797,000 or $188 per square foot.
Other Trends in Bend Real Estate
For the month, distressed properties (36 short sales, 40 bank-owned) made up 57% of total sales. Also, the low end continued to be red hot, as 64 homes sold for less than $200,000.
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