While January for the Bend real estate market wasn’t quite so robust as December 2012, it did produce 113 home sales as well as, what I consider, the craziest MLS listing photo I’ve ever seen (above). I think somebody has a good sense of humor.
Bend Market Snapshot
Here’s a quick encapsulation of Bend’s real estate activity in January:
High End Bend
The most expensive home sold in Bend in January was a 3/2, 3249 square foot home on Awbrey Butte that went for $769,000 (interestingly, the list price was $769,000).
This contemporary home with 15′ ceilings went for $240 a square foot. It had all the requisite good shit . . . gourmet kitchen, fire pit, hot tub, blah, blah, blah.
Low Priced Leader
The winner, and source of the photo at the top of the page, was a three bedroom, one bath cutie on the sunny southeast side of town.
1192 square feet, built in 1948, this short sale sold for $72,900 . . . or $61 per square foot. A good deal!
Bend Market Trends
Distressed properties (17 short sales, 7 bank-owned) made up just 21% of homes sold in Bend in January . . . mid last year, that number hovered between 50%and 60%.
NOD’s (Notices of Default–the first stage in the foreclosure process) all but disappeared–just two for the entire month. Not to get too excited, as some of this lower number is predicated on the move towards “judicial foreclosures.”
Pending sales surged to 151. That’s a sizable number for any month, and a positive indication for the year ahead.
For sale inventory is exceedingly low–just 319 single family units available in Bend at the end of January. A big worry for realtors (what will we sell?) and potential buyers alike. A great time to be seller!
Median Price in Bend . . . $243,750
The median price in stayed rather flat (strong, but flat) at $243,750. For that price, one could expect a home much like this on Bend’s westside.
3 bedrooms, 1.5 baths, and 1045 square feet. This home illustrates the desirability of the westside of town, and also the impact on pricing of limited inventory.
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