The Month of May in Bend is when people start to get especially active and the tourists begin to flock here in search of sunshine. That makes for an active month in the Bend Housing Market. In May 2017 our weather was not cooperative, with more cold and wet days than we typically have. Let’s take a look how this effected the May 2017 Bend Housing Market:
Months of Inventory
May 2017 wrapped up with an average of 3.8 Months of Inventory for Bend Homes. That’s just shy of the 4 month mark which indicates a market where both buyers and sellers are without an advantage. And it’s an increase from the March 2017 inventory numbers we experienced. The 3.8 number indicates a deficit in available Bend home inventory, a trend we’ve seen far more often than not over the past years. This indicates the Bend Housing Market in May 2017 favored the home seller, but it was close to being balanced between the home seller and home buyer.
Median Sale Price
The Median Sale Price for homes in Bend Oregon during the month of May 2017 is $379,000.
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 April 2017, Bend Homes averaged 185 Days on Market. In May, that number dropped significantly to 138 days (that’s a 25% decrease from April to May). That’s higher than average number of days on market in Bend favors the buyer.
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
Would you like to see the homes currently listed for sale in the Bend Oregon area?