Bend Oregon Homeowners: The Bend and Central Oregon real estate markets have reached “Sellers Market” status.
How is that, you ask? Take a look at the chart above. For about a year now, in my monthly Homes Sold posts, I have been talking about how low inventory is. The low number of homes for sale in Bend has caused prices to rise over that same period. Which brings us to our current situation just as the 2013 “Selling Season” kicks off. Lots of demand from home buyers and very few homes to choose from make for a sellers market.
The demand from home buyers can be seen in the numbers of homes pending and sold. In March 440 homes went pending and 343 homes sold in Central Oregon. In only one month over the last seven years (September 2009) have we seen pending home sales that high. This is a great sign that buyers have confidence in the Central Oregon real estate market.
The activity from buyers is threatening to drive prices up even more if we don’t see sellers come back to the market soon. As things stand right now we are seeing buyers compete for homes. Most of our listings this year have been on the market for less than a week before they have an accepted offer. If you have been thinking about selling your Bend or Redmond home you should read this post about what can happen if you wait too long to sell. If you can afford to sell your home, meaning if you aren’t under water, now is the time to make your move before everyone else does and prices start to level off or even fall back. Call us at (541) 508-2930 to find out how much your home is worth today.
You can read more monthly sales reports: Bend Home Prices.
Real Estate Sales information courtesy of Central Oregon MLS