Bend, Oregon Homes are Selling!

With the end of March approaching I wanted to see where we were headed as far as total number of residential home sales. The numbers are encouraging with 55 homes sold thus far in Bend and 152 pending sales as of today. The majority of the homes sold are on the lower end of the market, as the $225,000 median home sales price suggests. The activity in the upper end of the market is slow at best.

Scanning the pending sales shows a continuation of this trend. Foreclosures are making up a healthy percentage of these transactions. The good news is the foreclosures are moving and the quicker we get rid of them the quicker we will find market stabilization.

Although it is doubtful we will get to March 2008's 93 residential homes sold, we can take solace in the fact that homes are selling and that interest rates remain extremely attractive.

With Spring comes hope and with hope comes change. I look forward to sunny days ahead!

Troy Batson is a Licensed Broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ Bend, Oregon

Bend, Oregon Foreclosures and Short Sales Report

Active Residential Listing Report ~ March 1, 2009

                                BEND    REDMOND    SISTERS      PRINEVILLE

Active Res. Listings -     1,664         701          155               327

Res. Short Sales -           313 (19%)  137 (20%)  11 (7%)          35 (11%)

Res. Bank Owned -         164 (10%)   61 (9%)      5 (3%)          24 (7%)



I will be compiling this report monthly in hopes of identifying the bottom of our Central Oregon market. With almost 30% of the Bend, Oregon active residential listings being short sales and foreclosures it looks like we have a ways to go. Until these numbers decrease significantly I predict Central Oregon home prices to remain soft.

For a list of Bend, Oregon Foreclosures or other Central Oregon Foreclosures click here.

Troy Batson is a Licensed Broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ Bend, Oregon