Anyone looking for a dramatic change in the trajectory of
Bend real estate will not find many surprises in the statistics through the third
quarter of 2015.
Essentially, it’s more of the same trends--upward price
migration and continued tight inventory in the lower price ranges even with
brisk activity in new home construction.
Some bullet points-for Bend single family sales on all
lots/acreage sizes:
·
Unit sales up
11.90%
·
Median prices up
14.50% from $292,500 to $334,900
·
Dramatic drop of
74% in sales of $100,000 to $199,999
·
Substantial rise
of 54% in sales in the $300,000 to $399,999 range.
For homes sales on lots under an acre:
·
Unit sales up
10.68&
·
Median prices up
15.04% from $279,900 to $321,900
·
As in larger lot
size sales a large drop of 75% in $100,000-$199,000 sales
·
A rise of nearly
54% in sales from $300,000 to $399,999.
Looking
at other price ranges, a notable item is the increase in unit sales
from $500,000 to $599,000 of
more than 60% on homes on all acreage and nearly 53% on lots less than an acre.
At the same time there were only modest increases in the $400,000 to $499,000
price range.
Refer to the table below for a complete picture of Bend
sales in $100,000 price segments. Also the chart below shows the rise and fall of residential sales at $1 million or more in all of Central Oregon from the "pre-bubble" year of 2005 to the peak in 2006. The number of sales in that category are edging upward but still a small part of regional activity.
