Falling Home Prices in Oregon
According to a monthly report by the Bratton Appraisal Group the median home price in Bend Oregon fell to $292,000. This is down from the peak of $396,000 in May of 2007. That's over a 26% decrease. The number of homes sold were up to 92 as compared to 56 in February.
The Bend Oregon real estate market continues to be a strong buyer's market as prices continue to fall. It is yet to be seen if home prices will stabilize this summer or fall. It's a good time to buy however as you only know when the bottom has been reached after prices start to go up.
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