April Home Sales in Bend Oregon
The real estate market in Bend Oregon continues to bounce along the bottom . . . pretty good activity . . . a continued mix of hope and uncertainty. See Bend sales figures for the first quarter of 2010.
For the month, we saw 144 single family homes sold in Bend, up slightly from March’s total; and a hefty bump of 33% from a year ago. Shockingly, the median price dropped almost $25,000 to $177,000 . . . hard to explain why; maybe a mix of the end of the first time buyer’s tax credit and the abundance of distressed properties.
Range of Home Sale Prices in Bend
There were no million dollar homes sold in Bend in April. The most expensive was a three bedroom, two and a half bath, 5149 square foot home that sold for $910,000.
I’m not sure if the description of this home in MLS was written by James Joyce or borders on the maudlin:
“Extraordinary architecture, construction & magnificent panoramic River & Cascade Mountain views grace this poetic & soulful residence wrapped in the arms of Deschutes River Ranch, an exclusive 486 acre working cattle & horse ranch located within a short reach of Bend, OR. Features in various periodicals including Bend Living Magazine, this classic residence recalls the historic architecture of the past whose destiny is an heirloom home designed & built for generations to come.”
The home had been listed in August of 2009 at $1,550,000.
Low End in Bend
At the low end was a three bedroom, two bath home on SE Wilson that sold for $70,000, or $61 per square foot. It was built in 1982
and featured a wood stove.
I don’t know why I persist with these ridiculous pictures!
Median price in Bend Oregon . . . $177,000
As cited above, the median price in Bend dropped to $177,000 . . . a figure that hasn’t been seen in more than six years, and a real shocker when compared to the astronomical $396,000 of May 2007. The median priced home would look like this vintage 1922 cottage.
It’s located just a few blocks from Drake Park. It’s 1008 square feet, two bedrooms, one bath, and was remodeled in 2005.
Assorted Data . . . Conclusions
Notices of Default (the first step in the foreclosure process), while for the first time showing a drop in year over year numbers, still remained high . . . 316 for April. Thus ensuring a continued supply of distressed property in Bend Oregon. Interestingly, for the last month, fully 67% (96) of all home sales were either bank-owned or short sales.
Currently there is 5 months of for sale (725 units) inventory available (down radically from a year ago when there was 12.7 months or 1372 units on the market ). For homes sold in Bend in April, the average days on the market was 167; the average price per square foot was $121. Homes sold for 94% of list price (84% of original list price).
Search for homes in Bend Oregon.
