Central Oregon Market Update - Jan. 2020 - New Year, New Decade

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3 1/2 weeks into 2020, and we are feeling very optimistic about the year already! We have a lot of Buyers who are ready to get settled before Spring, with low interest rates AND inventory levels, the well priced homes are selling quickly. Add all of that with mild weather, and we should hopefully see the market take off early (much like last year). Despite the uncertainty of the upcoming election, Bend continues to be in it’s own happy bubble, and there are still people trying to figure out how to remain in this amazing town, or move here!

For our data loving friends - here are the latest numbers:

  • The numbers of homes offered for sale were down 17.2% from 396 to 328 at the end of the year

  • The numbers of homes sold were down 4.2% from 2452 to 2352

  • The number of homes pended were down .8% from 2417 to 2397

  • The average days on market were unchanged at 103

  • The sold/original listing price difference was down 1% from 97% to 96%

  • The average price per square foot was up 6.5% from $243.88 to $259.84

  • The average active price was up 5.8% from $654,000 to $692,000

  • The average sold price was up 6.4% from $501,000 to $533,000

  • The months of inventory based on closed sales is unchanged at 2.5*

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For more information, and to read about what to expect in the coming months in Real Estate, click here.