Even though sales of single family homes in Bend Oregon dropped slightly (when compared to July figures) for the month of August, activity was still rather robust, especially at the lower end of the price spectrum.  127 houses sold in Bend, compared to 152 for the previous month.  But the data also shows an increase of 33% over the real estate numbers in Central Oregon a year ago.  Perhaps we’re on the road back.

Range of prices for August 2009

The range of prices on sales of houses in Bend ran the gamut again.  The least expensive was a steal at $80,000

It was a 1500 square foot, 3 bedroom, 2 bath home that two years ago was listed for $239,900.  The home featured a large unfinished basement and a spiffy “partially covered patio”

At the high end, was a beautiful 4419 square foot home on Awbrey Butte, featuring 4 bedrooms and four baths; it sold for $1,058,500 or $239 per square foot .  Remarkably, it had been on the market for over 1200 days.

The Bend Oregon home has a beautiful gourmet kitchen. It even makes me want to cook!

It also offered stunning Cascade views all the way from Mt. Bachelor to Mt. Washington.

Median Home Price in Bend

The median price moved up slightly in August from $217,000 to $220,000.  The home below is representative of what was purchased at that price.

It was a new home with 3 bedrooms, two baths; 1500 square feet.  That calculates out to $139 per square foot.

Notices of Default

Notices of default (often the first stage of foreclosure) fell slightly from the previous month, down to 306.

Still, the number is high, and portends a fair number of bank-owned and forelcosure properties in Bend entering the marketplace in the future . . . until this inventory is absorbed, we will not see an increase in pricing.

What else the data shows us

Another bit of interesting information (especially for sellers): homes that closed after being on the market for 60 days or less,  did so at a sales price that averaged 99.68% of list price.  Homes in Bend that are priced correctly, will sell; and will sell quickly.

For more information on selling your home quickly, please click here.