The housing market in Bend Oregon continues to stumble. Prices continued to fall, but outside the city, some buyers choose the first homes priced.
The Bratton Report which is produced by Mike Caba Bratton Assessment Group shows that the average price of homes sold in Bend Oregon for the month of May 2008, about 23 percent in May 2007. The average price in May 2007 to 396,000 $. May 2008 The average price was $ 303,000.
The report shows that the peak average price of homes sold in the curve of the real estate bull market leader in May 2007, is a comparison difficult. It seems that the average delay and the realities behind the market in Bend. The median price in November 2006 was $ 305,000, then we return to 2006 prices.
The number of homes sold in Bend in the same period fell by nearly 36 percent! There were only 102 homes closed in May this year to 159 in the previous year.
Bend Oregon homes sell if they are very cheap! I closed another manager for the sale of a house in South Bend. It is on the market for less than 60 days and the owners had built their fortune in 71 days. It was a good old house that needs a little work, but it was really cheap.
I closed last month a house on the golf course at Rivers Edge for $ 629,000. The buyers come from California and feel they were a great buy. I also closed a house in California last month, sold to different buyers. They bought a nice house in the southwest bend in the Deschutes River in the vicinity.
The Bend Oregon real estate market is slow. There are not many serious buyers. But homes that attract buyers and sellers at a fair price, their homes, when the right thing.
The economy does not look good. Gas prices are high and do not see how they will be down so soon. Local newspapers are beginning to be a “recession little attention and unemployment seems. In addition to this, the fair is yet to come.
It seems that prices will continue falling for the rest of this year, I see only one activity of the buyer and more short sales and bank Repos market. This year seems a good time to buy. Unless our economy goes down the toilet, I look for prices to bottom next spring.
