Heading into the typically active Spring and Summer real estate sales cycle the Bend single family market continues to improve over the previous year.
A regional housing recovery begin to pull out of the doldrums in 2012 and seemed to pick up steam after moving beyond the uncertainty of the November election and the drudgery of federal budget and deficit discussions.
Now, it appears that many buyers are returning to real estate after apparently deciding that low interest rates, an improving economy -- even though erratic -- and a recently buoyant stock market are sufficient reasons to get off the fence.
And, inline with reported national trends, inventory of single family homes has contracted to the point of stimulating new construction activity.
As of mid-April 2012 sales of Bend single family homes were up 10.5% to 2219 units, 10.5% over the 2008 homes sold in the comparable 12 months of April 2011 to April 2012.
Median prices for the period rose 21.46% from $205,000 to $249,000 and sales volume by 27.7%--from $509,242,770 to $650,317,396.
Bend single family homes accounted for more than 55% of all regional sales from January 1, 2012 through mid-April, followed by Redmond at 18%.
As of mid-April there was only a 2.64 months supply of actively listed Bend single family homes, as calculated by averaging the previous 12-month sales. At the depth of the housing recession Bend had a supply of more than 13 months.
