The Month of January is typically a slow real estate month in Bend, Oregon. This January 2017 was particularly slow due to the large amount of snow and cold temperatures, making it hard for workers to prep homes, sidewalks to be cleared, and buyers to make it into homes to see them. This made for a relatively inactive month in the Bend Housing Market. Let’s take a look how this effected the Bend Housing Market:
Months of Inventory
January 2017 wrapped up with an average of 3.7 Months of Inventory for Bend Homes. That represents a 4% increase over the yearly average. The 3.7 number indicates a relative balance in available Bend home inventory, and is consistent with what we’d expect given the heavy snowfall and intense winter experienced during this time.
Median Sale Price
The Median Sale Price for homes in Bend Oregon during the month of January 2017 was $370,813 which is down 6%, or $23,357 from the yearly average.
Number of Days on Market
This tells us how long Bend homes remain as Active listings before the move to Sold status. The national average is 80 days on market. In January 2017, Bend Homes averaged 149 Days on Market, which is 17% greater than our yearly average. The higher than average number of days on market in Bend favors the buyer.
Understanding the Numbers
Click here to learn more about what each ratio means, why its an important measure for Bend Homes, and to understand how this calculation is made.
Bend Homes for Sale
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