Real Estate Trends with Duke Warner Realty: Things Continue to Look UP!

October 2014	Active Listings	New Listings	Pending Listings	Reduced Listings	Sold Listings	Avg. List Price/ Sale Price	Months of Inventory
$125,000 – $225,000	44	20	36	15	46	98%	1.0
$225,100 – $325,000	204	61	87	45	73	99%	2.8
$325,100 – $425,000	139	44	38	38	41	99%	3.4
$425,100 – $525,000	75	14	18	21	16	98%	4.7
$525,100 – $625,000	55	10	11	12	14	98%	3.9
$625,000+	121	15	16	16	17	92%	7.1
Totals	638	164	206	147	207	97%	3.8

November 2014	Active Listings	New Listings	Pending Listings	Reduced Listings	Sold Listings	Avg. List Price/ Sale Price	Months of Inventory
$125,000 – $225,000	33	17	27	5	29	97%	1.1
$225,100 – $325,000	178	46	61	27	58	98%	3.1
$325,100 – $425,000	124	26	42	19	27	99%	4.6
$425,100 – $525,000	58	21	11	13	17	101%	3.4
$525,100 – $625,000	48	10	9	11	10	99%	4.8
$625,000+	95	7	11	7	9	97%	10.6
Totals	536	127	161	82	150	99%	4.6

These statistics are for Bend, OR residential properties on <1 acre

2014 is drawing to a close. How is the local real estate market wrapping up the year? It may seem as if the marketplace is seeing a downward trend. The truth is the marketplace has seen important growth since October.

It is not uncommon to see a general slowing of the marketplace after the summer months, but lower numbers does not necessarily mean a downturn in yield. Closer examination of the current statistics reveals a healthy real estate picture for our area.

The statistics support this consistent and stable setting through some significant numbers. While overall total numbers from active, new, pending, reduced and sold listings are lower than the previous month, the average sale price to list price has increased. This means that houses are selling at a price closer to the current asking price. Combined with less price reductions, sale prices grew closer to what sellers are seeking and what buyers are willing to pay. This keeps market inventory moving.

It should be noted that the $425,100-$525,000 price range saw an impressive 101 percent of average list price to sale price. This range saw sales higher than the asking price. The $625,000+ range also saw a marked improvement from 92 percent in October to 97 percent in November. This price range is usually the slowest moving in the overall market so this increase demonstrates that all price ranges are remaining active and resulting in sales.

New listings continue to enter the market across all price ranges. A diverse inventory signifies a healthy mix of listings that provides ample offerings for what diverse buyers are looking for.

The diversity of inventory has contributed to an overall months of inventory increase to 4.6 months. This is approaching a target average of 6-8 months. This statistic indicates that there is a growing balance between listings available and buyers making offers.

The real estate market remains steady and stable for Central Oregon. While there has been some fluctuation in the statistics this movement has produced a dynamic and responsive market. As 2014 begins to sunset in the history books the marketplace is positioned for a strong entry into the new year.