The second quarter of 2015 ended with total sales up 8 percent from Q1. June ended with a total of 566 active listings compared to 502 at the end of May, a 12.7 percent increase.
The most significant growth (active listings) was in the $125,000-$225,000 range with a 66.67 percent increase in active listings (20 at end of June compared to 12 end of May). All other ranges saw slight increases other than the $425,000-$525,000 range which saw a 10.7 percent decrease (75 active listings end of June compared to 84 at end of May).
The number of listings moving to pending status dropped by 14 percent with 266 properties in June, compared to 310 in May.
The number of reduced properties did rise very slightly in June (145 compared to 138 in May), however paired with more properties being sold (259 compared to 238). While 7 more properties saw price reductions in June compared to May, 21 more properties sold.
Total properties sold saw an 8 percent increase in June from the previous month. The biggest movers were the $125,000-$225,000 range (75 percent increase) followed by the $425,000-$525,000 price range with a 36 percent increase in sales. The $325,000-$425,000 price range saw a slight 3.4 percent decrease in sales.
Effective pricing resulted in the average sale price to listing price dropping 1 percent from 100 percent to 99 percent . There were four price ranges that saw a 99 percent average sale-price-to-list-price. This statistic means that properties entered into contract at an overall average of 99% of the asking price.
The average days on market rose from 99 to 111. This represents a 12 percent increase from May to June and means that properties are actively on the market (on average) for approximately 12 more days in June than in May.
This increase of days on market came from the price ranges beginning with the $425,000 and up. Price ranges from $325,000 and lower saw fewer days (average of 12 percent lower) on the market while price ranges from $425,000 and up saw more days (average of 41 percent higher) on the market.
Inventories saw a drop from 2.6 months to 2.4. This will keep the marketplace competitive as there are fewer properties in the inventory. All price ranges, except for one saw less inventory. The $125,000-$225,000 range saw the most inventory decrease at 33 percent so that will be more competitive compared to the $325,000 – $425,000 range which saw a 20 percent increase in inventory.
Currently, the most competitive market is the $125,000-$225,000 range, with more listings but largest increase of sales coupled with fewer days on market and less overall inventory.
Duke Warner Realty was established in 1967 by Duke and Kitty Warner. Their philosophy was to establish a first-rate real estate company sensitive to their customers’ needs. Duke Warner Realty’s brokers share this philosophy, and today the firm is widely known for its personalized service and reliability.
541-382-8262
www.dukewarner.com
*The Central Oregon real estate market is in constant flux, with complex interactions. For personalized guidance, talk to a REALTOR licensed in the state of Oregon.
| May 2015 | Active Listings | New Listings | Pending Listings | Reduced Listings | Sold Listings | Avg. Sale Price/ List Price | Avg. Days on Market | Months of Inv. |
| $125,000 – $225,000 | 11 | 23 | 23 | 1 | 12 | 100% | 90 | 0.9 |
| $225,100 – $325,000 | 114 | 104 | 131 | 26 | 107 | 100% | 113 | 1.1 |
| $325,100 – $425,000 | 89 | 63 | 56 | 24 | 58 | 100% | 105 | 1.5 |
| $425,100 – $525,000 | 70 | 45 | 40 | 31 | 22 | 99% | 81 | 3.2 |
| $525,100 – $625,100 | 60 | 24 | 30 | 28 | 15 | 100% | 77 | 4.0 |
| $625,000+ | 120 | 50 | 30 | 28 | 24 | 99% | 127 | 5.0 |
| Totals/Averages | 464 | 309 | 310 | 138 | 238 | 100% | 99 | 2.6 |
| June 2015 | Active Listings | New Listings | Pending Listings | Reduced Listings | Sold Listings | Avg. Sale Price/ List Price | Avg. Days on Market | Months of Inv. |
| $125,000 – $225,000 | 12 | 13 | 13 | 4 | 21 | 99% | 80 | 0.6 |
| $225,100 – $325,000 | 107 | 98 | 106 | 25 | 105 | 99% | 105 | 1.0 |
| $325,100 – $425,000 | 99 | 78 | 63 | 40 | 56 | 99% | 83 | 1.8 |
| $425,100 – $525,000 | 84 | 38 | 40 | 25 | 30 | 99% | 120 | 2.8 |
| $525,100 – $625,100 | 65 | 28 | 17 | 26 | 19 | 98% | 116 | 3.4 |
| $625,000+ | 135 | 51 | 27 | 25 | 28 | 98% | 159 | 4.8 |
| Totals/Averages | 502 | 306 | 266 | 145 | 259 | 99% | 111 | 2.4 |
| Active | $125-$225 | $225-$325 | $325-$425 | $425-$525 | $525-$625 | $625 & up | Total |
| 7/1/15 | 20 | 122 | 120 | 75 | 77 | 152 | 566 |
These statistics are for Bend, OR residential properties on <1 acre. Information deemed reliable but not guaranteed.
