You may have waited too long!
I can definitely feel the market heating up for bend, OR, homes for sale and even for Central Oregon ranches and farms. Buyers are finding value, which is no surprise, but a surprise is that in many price ranges it is now a sellers’ market, and not a buyers’ market.
Homes under $200,000 are selling so well that there is little inventory. For instance, in Bend 368 homes priced under $200,000 sold in the past 90 days, or 122 a month. There are, however, only 159 active listings in that price range currently.
In the $200,000 to $300,000 range we have seen 39 homes on average selling per month for the past 90 days, and there are 95 active listings for an inventory of about 2 ½ months of available homes.
Even as we get into the higher price ranges there is competition. Between $300,000 and $400,000, on average 23 homes sold per month in the past 3 months, and there are only 77 homes on the market for an inventory of about 3 months. (Call me or email me if you want more details on the price range for your home or that of a friend or relative. It actually may finally be the time to put that property on the market.)
We are experiencing in many cases multiple offers on homes, which means if you have four offers on a home, only one is the successful purchaser. It also means that three buyers are competing for the next home. That can mean only one thing: Prices will increase.
Buyers are still attracted to Central Oregon. I got two calls just this month from people who are moving here from other areas – one Utah and one California – and neither have ever been here before. They have read about Central Oregon and/or heard from friends that quality of life is better here.
If you or a friend find your life is wrapped up timing your lives and job commute around rush hour, give me a call! And preferably before those prices go up!