The Bend Bulletin reported that median home prices have risen over 19% in the last year in July. According to my research thru the Central Oregon Multiple Listing service median prices are up 15% this July over last July and the number of July sales were up 33% this year over last.
Bend sales divided up by section were as follows: Northwest up 7%, SW up 26%, NE up 42% and the SE was down 4%.
One reason I think homes in the NE section of town are up so much because that is where the least expensive homes in Bend are found. Homes under $200,000 are selling like hot cakes if they are priced right.
The median NE Bend home price sold in July 2011 was $132,011 and in 2012 it jumped to $187,915. Statistics can be boring and some times a little misleading but the fact is prices of homes in Bend Oregon are going up. I think we have officially hit the bottom.
In the last 12 months there have been 158 homes sold in Bend over $500,000. The most expensive home sold for $2,350,000. If you are thinking about buying a home in Bend I sincerely believe now is the time. These homes are less than 1/2 the price they were in 2006!