Our market has shifted in Central Oregon... Homes are selling fast and there isn't much inventory. Those not searching for a home don't realize this. But for those searching for a home, you've probably had experience with multiple offers, homes going Pending Sale within days, and competing with all cash offers. I just wrote an offer for a buyer on a home in Redmond. The buyer went $5,500 over the asking price ($105,000) and still didn't get the home. They received 6 offers within a few days. This is the new normal in our market.
Bend market review
Includes all stick built residential single family homes in Bend on the Central Oregon MLS, excluding townhomes, condos, and manufactured homes.
As you can see, our lower end is selling like crazy. The $250,000 and under price range is selling quick and prices are starting to rise. While the $500,000 and over market is still a little slow, but we're seeing improvements in this segment of the market as well. The good deals over $500,000 are still selling quick.
Also note the average Sales Price compared to List Price in the graphs. Most homes are selling for close to the listing price in all price ranges. This means that if a home is priced right, it will sell for near the asking price (and usually quick). The good deals are selling fast, while other homes are remaining on the market.
If you're looking for a home in Bend, the best way to stay ahead of the game is to sign up to receive new listings matching your criteria/price range as they come on the market. Do so on my Bend real estate listings page.