Bend Real Estate
What a great month in Bend . . . incredible powder forays at Mt. Bachelor interspersed with bluebird groomer/cruiser days; the real estate market wasn’t bad either!
108 Homes Sold in Bend
We saw the sale of 108 homes in Bend in February, down just a hair from the previous month. Interestingly, barely 20% of sales were those of distressed properties (17 short sales, 5 bank-owned). . . a year ago, in February of 2012, that number was 57%. NOD’s (Notices of Default) all but vanished . . . only 6 for the entire month! Again, some of that low number is due to the move toward “Judicial Foreclosures.”
Just Two Months of Inventory
For sale inventory remains perilously low, with just 340 homes on the market. That’s near a more than 20 year low. At the lower price points the situation is downright scary–check the following chart:
High End Bend
An “exquisite” home in the heart of downtown Bend, and just steps from Mirror Pond and the Deschutes River
this 3 bedroom, 3.5 bath home sold for $1,260,000 or a whopping $384 per square foot (woo hoo!). Aside from the river views, the house featured dynamite hard surfaces, a floor to ceiling stone fireplace,
and a beautiful gourmet kitchen.
Lost Leader in Bend
The low priced leader was euphemistically called a “project” on Brosterhous on Bend’s southeast side. The “experienced homestead” (I like that) on a large .53 acre lot, went for $87,500 or $81 per square foot. A good deal!
The 1078 square foot home offered 2 bedrooms, 1 bath, and a kitchen
Median Price in Bend . . . $235,800
The median price in Bend dropped just a bit to $235,800. For that price, one could expect a pretty snazzy home like this one–
featuring 4 bedrooms, an open plan, and stainless appliances. Not bad!
Other Trends in Bend
Moving forward, there are a couple of other trends worth noting . . . the number of “pending” sales soared in February (172); likewise the number of new building permits issued (57) represented the highest number since July of 2007. Both positive signs for the future.
