Each month, the Central Oregon Association of Realtors® publishes real estate statistics that help you understand what the local market is doing. Comparing the volume of sales over time, for example, provides one indicator as to whether the real estate market is growing or declining. This report covers some of the high points and trends for the third quarter of 2013 in Bend, Redmond, Sisters, Sunriver and Three Rivers South.
Central Oregon has seen a steady increase in total number of residential properties sold in Q3 between 2009-2013, including a 64.3% increase in Bend sales from 1,039 in 2009 to 1,707 in 2013.
Other areas saw the following increases comparing 2009 to 2013:
• Redmond: +17.3%
• Sisters: +166%
• Sunriver: +127%
• Three Rivers South: +33%
The period has seen a sharp reduction in 3rd quarter Short Sales and Bank-owned Sales between 2010 and 2013. There was a recorded increase in Sold Volume, Average Sales Amount (the sum of all the sales prices, divided by the number of sales) and Median Sales Amount (the number half way between lowest and highest amount) between 2009-2013; Sisters and Sunriver, however, saw reductions in these amounts. Average days on market (DOM) has also been decreasing, meaning that homes are selling faster.
|
Area |
Short Sales |
% Change |
Bank-owned sales |
% Change |
Ave DOM |
|||
|
2010 |
2013 |
2010 |
2013 |
2010 |
2013 |
|||
|
Bend |
278 |
139 |
-50% |
424 |
59 |
-112% |
140 |
112 |
|
Redmond |
141 |
74 |
-52% |
238 |
23 |
-90% |
137 |
122 |
|
Sisters |
9 |
6 |
-33% |
19 |
3 |
-84% |
199 |
193 |
|
Sunriver |
6 |
6 |
0% |
5 |
3 |
-40% |
262 |
195 |
|
3 Rivers S |
16 |
9 |
-33% |
16 |
3 |
-81% |
189 |
176 |
|
Area |
Sold Volume (Millions) |
% Change |
Ave Sales Amount (Thousands) |
% Change |
Median Sales Amt (Thousands) |
% Change |
|||
|
2009 |
2013 |
|
2009 |
2013 |
2009 |
2013 |
|||
|
Bend |
271 |
540 |
+99% |
261 |
317 |
+21% |
212 |
269 |
+27% |
|
Redmond |
78 |
100 |
+28% |
179 |
193 |
+8% |
155 |
171 |
+10% |
|
Sisters |
15 |
31 |
+101% |
385 |
310 |
-19% |
299 |
285 |
-4% |
|
Sunriver |
22 |
43 |
+95% |
463 |
398 |
-14% |
418 |
352 |
-16% |
|
3 Rivers S |
14 |
22 |
+57% |
262 |
306 |
+17% |
154 |
231 |
+50% |
Bend saw positive real estate growth trends over last year and a movement away from the Short Sales and Bank-owned Sales of the Recession period. Redmond, Sisters, Sunriver and Three Rivers South saw similar trends.
Overall, the statistically-measured trends for Central Oregon real estate are positive: More homes are on the market, and they are selling faster and for more money. Watch for upcoming monthly and quarterly reports from COAR in local publications and on the COAR website. Full statistics sheets for Deschutes, Jefferson and Crook Counties are available at www.coar.com/consumer/statistics.html.
About COARThe Central Oregon Association of REALTORS® (COAR) advocates for the local real estate industry and for property owners. It is the hub of real estate information, communications, training and other resources that support our real estate economic base.
Kelly Walker, M.S. is Creative Director for Intrepid Marketing. For more information, contact Kelly at: (541) 419-9976 or Kelly@intrepidforward.com
