Prices in Bend

The Bend Oregon real estate market continues to fall.  The median price of a home sold in Bend was down 20.3% from August of 2007.  The median price for a home in Bend is now $279,000.  This was reported by Mike Caba of Bratton Appraisal Group.  The median price is down 25.8% from the median price of August 2006. 

He also reported that the number of sales as compared to August 2007 was down to 89 homes sold as compared to 144 in August 2007.  That's a 38% decrease in the number of homes sold.

It was also reported that the average days on the market was 92.  This data is taken from the Central Oregon MLS.  That may sound good but it does not take into account the number of days a home was listed with another Realtor.  We just sold a home in two weeks that had previously been on the market for over 2 years with other Realtors. 

It looks like prices will continue to fall until no sooner than next spring/summer.  We are seeing a fair amount of out of state buyers looking around for bargains.  Now is a good time to buy.  Interest rates are good, prices are down and there's a great selection.

Jim Johnson has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site http://www.bendoregonrealestateexpert.com .  To see more information on Bend Oregon click on the link below If you would like to make a comment on this post or on the Bend Oregon real estate market click on "comments" below.  Jim is licensed by the State of Oregon as a Principal Broker for Century 21 Gold Country Realty.