June 2010 Home Sales Statistics for Bend Oregon
Despite the roller coaster style reports (Bend Oregon Price Drop Worst in Nation; Retirement Property . . . Bend Oregon is a Bargain) home sales statistics in Bend have remained pretty consistent, and very active over the last few months. The Bend real estate numbers for June reveal little new.
For the month, we saw the sale of 152 single family homes in Bend . . . up slightly from the 149 we saw in May, and up roughly 10% from a year ago. Interestingly, the median price of a house in Bend took a big jump; up to $217,000 or almost 15% from May’s figure. We’re still well off the pre-bubble halcyon days of May 2006, when things peaked at a surreal (now) $396,000. A little difficult to explain the bump . . . perhaps due to the decrease in inventory of the lower priced product.
Range of Prices for Homes Sold in Bend Oregon
Once again we failed to see a million dollar sale in Bend . . . a little tough for the high end market where there are 35 such homes currently listed. The winner for the month was a beautiful Norman Design (Jim’s personal residence) on the 17th. fairway in Broken Top which went for $930,000.
It was originally listed at $1,250,000. The beautiful home is a single level at 2569 square feet (that’s an impressive $362/sq. ft.), 3 bedrooms and 2.5 baths. It’s sided with really cool African Mahogany (I’m glad that I don’t have to maintain it!!). It also features an incredible 1700 square foot “man cave” and RV garage . . . the only one in Broken Top. It’s a past “Tour of Homes” winner.
At the low end of the Bend Oregon real estate market was a 1200 square foot, two bedroom, 1.5 bath home on the east side. it was described as having an “open and light great room . . . cozy and inviting.” Not bad at $75 per square foot.
The home also boasted of wonderful landscaping, a covered deck, a dog run (and even a fancy “doggie door” to the garage). I especially enjoyed the creative photos used in the marketing campaign; my favorite is the one below.
Even if I’m not sure what it’s meant to illustrate.
Median Home Price in Bend Oregon Rises to $217,000
“Nothing left to do with this lovely home, but move in!” I’ll take it! This is pretty much what the median price gets you.
A nice location on the east side near Providence Park. Three bedrooms, 2.5 baths, and 1739 square feet. Hickory and slate floors, alder trim and doors, granite counters, and a media room with still more of those “ass whompin'” chairs.
Only negative is that less than two years ago this home sold for $319,000.
Casual Conclusions About the Bend Oregon Real Estate Market
Of the 152 homes sold, 70 were distressed properties (40 bank-owned, 30 short sales) . . . that’s 46% of the Bend transactions (down from 58% last month). Notices of default (considered to be the first step in the foreclosure process) remained high at 346.
Thus it appears that the pipeline of distressed properties will help to keep prices down for the foreseeable future.
