Fall in Central Oregon

Moving into October, the weather starts to become brisk, the leaves change color, then fall.  The third quarter real estate figures for the Bend Oregon market are in as well; we begin to get a picture of what is happening with Central Oregon home sales.  Sometimes, we can even decipher what, until recently,  has been a puzzle . . . maybe we can even start to establish some trends.

YTD numbers

The table below paints a tantalizing picture; it doesn’t lie. It gives us an opportunity to look at hard YTD figures and compare them to the red hot Bend Oregon real estate market of just a few years back.  The font is intentionally small, as the figures are not necessarily fun to read.

The first numbers that jump out at us are the tremendous increase in sales of houses in Bend and Redmond when compared to 2008 (up 20% and 30% respectively).  Our momentary enthusiasm is swiftly tempered though . . . . especially when we see the near 30% decrease in both average and median sales prices.  I think, with info like that, we need to throw in a pretty picture of a typical Bend sunset over Mt. Bachelor and Broken Top.

The combination of the numbers above show us that the bank-owned and short sale properties are driving the market (sales numbers up, prices down), and as long as notices of default (usually the first step in the foreclosure process) remain consistently high, that trend will continue.  We could see continued drops in pricing.

To get more detailed info on sales figures and trends in Central Oregon, or to learn more about the Bend Oregon real estate market, please click here.  Also, take a look at our tremendous search mechanisms; just hit the “MLS Search” tab on the home page, or very cautiously hit the psychedlic blue button above.