The big news regarding home sales in Bend and Deschutes County last month is there were no real surprises. The numbers of homes sold and homes for sale held true to historical form with both moving slightly higher in March.
An increase in inventory is welcome news for the beginning of the Spring sales season for Central Oregon. Although we only picked up an additional 60 homes, we needed them. As I mentioned in February, inventory hasn’t been this low since 2006 and it can be tough right now for buyers to find what they are looking for. Houses that are priced well are selling quickly and often have multiple offers in the first few days of being listed.
The majority of homes that have been priced most attractively have obviously been bank owned or short sales but even the prices of those homes are rising. A quick search of MLS this morning showed only eight bank owned or short sale homes under $130,000. Buyers who were waiting for prices to fall even further may have missed the boat in Bend.
One sign that the “bottom of the market boat” has sailed is we are seeing owners whose homes aren’t under water show interest in listing their homes for sale. These owners are telling us they feel like prices have come up enough to make it worth their while to sell. While everyone’s situation is different, our response to those who are tired of sitting on the sidelines is that now is a good time to list their home for sale. We feel that now is a good time because inventory is low which means there aren’t many homes (especially traditional sales) to compete with.
If you have been thinking about selling your home but waiting for things to improve, now is a great time to have a real estate professional help you evaluate if now is the right time for you to sell. Call us at (541) 508-2930.
You can read more monthly sales reports: Bend Home Prices.
Real Estate Sales information courtesy of Central Oregon MLS