July Real Estate Forecast shows a highly active Summer market

The height of summer is here and the number of available listings proves that it’s been a busy summer for Bend Oregon Realtors. With things climbing in the market, like number of active listings, and the highest median home price in Bend has seen in the past 10 years, it’s been an active couple of months.

High Inventory

While it’s known that the summer months are typically the most active, this summer in the Central Oregon Real Estate Market has been highly active. The number of available listings grew from 442 to 570 in July, which goes to show that summer sales are in full swing. Everyone is getting their property listed, which means that it has officially become a buyer’s market. At the beginning of August, the number of listings has grown to 638, showing even more growth since the end of July.

Buyers can pick and choose the properties they want to look at, as there are plenty of different options available right now. With the influx of listings, sellers have to be careful of pricing. Buyer’s will can find exactly what they’re looking for, at multiple price points, so it’s important to talk listing price with your Bend Oregon Realtor before listing your home. It’s important to price your listing competitively, and increase your chances of a fast sale in this sellers’ market.

Median Sales Price

For a few months before the boom of summer, the median sales price of homes in Bend was on a decline. But that ended in June, when the median sales price jumped to $409,000. This is a record high for the past 10 years, and the first time in 10 years that the median price has topped $400,000.

June’s median home price was 7.9 percent higher than May’s median price, which is the highest month-to-month price jump we’ve seen since 2011. The median is the middle number of all listing prices, and not the average number of prices, which means that the number isn’t being skewed by high end home prices.

Consistent Sold and Pending Listings

There have been very slight changes to the pending and sold number of properties from June to July. Sold properties only varied by 3, going from 246 in June to 243 in July. With a consistent number of pending sales from June to July, 259 to 246, it shows that buyers aren’t slowing down. Buyers are taking advantage of the available number of listings, and it’s showing in sales and pending sales.

Take Away

Now is a great time to start looking for the perfect home for you, with lots of different properties to look at, call your Bend Realtor now. Duke Warner is available to help you buy the perfect home, or get a property listed. Visit us today at dukewarner.com, check out our Facebook page, or call us at (541) 382-8262.