The Bend and Central Oregon real estate market continues to improve.
The month of April brought with it a nice increase in the number of homes for sale. The number of homes listed for sale jumped by 147 from 1413 to 1560. That is the largest monthly gain since June 2011 when there were 2369 homes for sale which was 189 more than the prior month.
As you can see from June 2011 numbers, current inventory is still well below where it was just two years ago. This is where it gets really good for sellers right now. We have 809 fewer homes for sale than we did two years ago but the demand for real estate in Bend and Central Oregon is stronger. Pending home sales reached 476 transactions last month. That is 44 percent higher than it was in June 2011.
The higher demand for lower inventory is, of course, translating into higher average home prices. The average price per square foot rose again in April to $145/sq ft. Average price per square foot hasn’t been that high since November 2008. We have been seeing homes for sale in the last month or so well over $250/sq ft. It just depends on the house and the location.
If you have been thinking about selling your home but aren’t quite sure if the time is right, the following two posts about whether or not you should sell now, may help.
- Two thousand home owners surveyed were asked, “Is now a good time to sell?”
- Spring has always been a good time to sell a house in Bend but Spring 2013 may be the best time to sell in years.
If you still have questions or would like more information please send us an email or give us a call. We are happy to help.
Real Estate Sales information courtesy of Central Oregon MLS