Bend market snapshot - 4 months into 2016

            At the end of four months into 2016 the Bend real estate market is confirming trends that have emerged in the years that have marked the region’s recovery from the bubble.

            Prices continue to rise and the availability of homes in the price segments below $300,000 continues to decline with only 10 homes on all lot sizes selling below $200,000 through April 30 this year and a decline of 11.48% of unit sales in the $200,000 to $300,000 range.

            At the same time sales in the $400,000 to $499,999 range rose more than 30%; $500,000 to $599,999 by 38% and $600,000 to $699,999 by 66%.

            The largest increase in any price category was in the $800,000 to $899,999 range, which increased by 183%.

            The median price of homes on all lot sizes rose to $359,200 from $330,000 in the same 4-month period of 2015, a rise of 8.85%. However, on lot sizes of less than an acre, the increase was even greater, at 15.04%, from $321,990 this year against $279,000 in the four months of 2015.
            Compare the 4-month period of 2016 with pre-crash January through April peak of 2007 when the Bend median price on all lot sizes reached $358,000, only to fall back to $299,000 in the same period in 2008. Median prices dipped to the bottom for four months in early 2011, when the median price fell to $193,450 before bouncing back to $206,450 in 2012 and continued a climb from the depths to the current level.

            Another trend indicative of market demand is the decline in days homes in the lower price ranges on less than an acre stayed on the market year to year. Median Cumulative days on the market (CDOM) in the $200,000 to $299,999 range dropped by 38.68% to slightly more than 70 days and by a whopping 78% from 165 days to 92 days in the $300,000 to $399,999 price range.

Increases from zero are not recorded as a percentage