Market Trend – February 2016

The residential real estate market is off to a good start in 2016

Typically, the real estate market in Central Oregon has less demand in the winter months.  While there was a decline in the number of sales in most market areas last month, the inventory in Bend and Redmond is low at around 2 months.  In Bend, there were 71 new SFR permits last month, compared to an average of 54 permits in January over the prior three years. These indicators strongly support a solid level of demand going forward

Below are links to the recent Beacon Report and the Median County Trend.

Link to Beacon Report.

CENTRAL OREGON TRENDS

Bend Area Snapshot for February 2016

$317,000 Median Price (down from Jan.)

$176 Median Price Per Sq Ft (up from Jan.)

160 Total Residential Sales (down from Jan.)

2 Months of Current Inventory (same, no change)

121 Median Days on Market (up from Jan.)

Courtesy of The Beacon Report