April: A 90-day look back at the Bend Market

By
Real Estate Agent with Remax Integrity

This month, I'd like to start off by saying--- these statistics are taken straight from the MLS system and the information is provided to help sellers align their product into the best position for sales. Although I'm posting on the world wide web---this is not a discussion on how "bad" the market is---that's old news. I'd like this to be a concentrated effort on how Real Estate Professionals can provide vital sales statistics to their clients to a beneficial end. Just this week Bend had 18 pending sales, 13 contingents, 73 price reductions and 9 sales closed. That to me is a victory for our local real estate market. We've seen an unprecedented number of multiple offers in the last thirty days, which tells me that the good deals ARE good deals and will be snapped up.

January 1 - April 10, 2009

Residential Properties

$50,000 - $250,000: 517 sellers. An average of 48 homes sell each month. There are approximately 10 months of inventory. 9.2% of sellers in line will sell in the next 30 days. Ave DOM: 192. Selling Price: $181,725. List to Sale Ratio: 93.74

$251,000- $300,000: 176 sellers. An average of 13.3 homes sell each month. There are approximately 13.2 months of inventory. 7.3% of sellers in line will sell in the next 30 days. Ave DOM: 217. Selling Price: $274,980. List to Sale Ratio: 92.99

$301,000 - $400,000: 232 sellers. An average of 8.6 homes sell each month. There are approximately 27 months of inventory. 3.7% of sellers in line will sell in the next 30 days. Ave DOM: 227. Selling Price: $345,812. List to Sale Ratio: 93.47

$401,000 - $500,000: 188 sellers. An average of 24 homes sell each month. There are approximately 23.5 months of inventory. 4.2% of sellers in line will sell in the next 30 days. Ave DOM: 277. Selling Price: $445,713. List to Sale Ratio: 91.20

$501,000 - $600,000: 145 sellers. An average of 6 homes sell each month. There are approximately 24 months of inventory. 4% of sellers in line will sell in the next 30 days. Ave DOM: 292. Selling Price: $552,068. List to Sale Ratio: 95.26

$601,000 - $750,000: 121 sellers. An average of 1.3 homes sell each month. There are approximately 93 months of inventory. 1% of sellers in line will sell in the next 30 days. Ave DOM: 269. Selling Price: $666,217. List to Sale Ratio: 93.44

$751,000 - $950,000: 109 sellers. An average of .6 homes sell each month. There are approximately 191 months of inventory. .5% of sellers in line will sell in the next 30 days. Ave DOM: 296. Selling Price: $800,000. List to Sale Ratio: 70.80

$951,000 - $1,500,000: 105 sellers. An average of .3 homes sell each month. There are approximately 350 months of inventory. .3% of sellers in line will sell in the next 30 days. Ave DOM: 252. Selling Price: $1,170,000. List to Sale Ratio: 78.26

$1,501,000 - $10,000,000: 75 sellers. An average of .3 homes sell each month. There are approximately 250 months of inventory. .4% of sellers in line will sell in the next 30 days. Ave DOM: 331. Selling Price: $2,200,000. List to Sale Ratio: 88

These statistics are MUCH better than last month's. In this recession there will be blips of sales runs and dry spells. The point is to get ready to be the first to go when we get a nice run on sales like this past month.

 

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Rainmaker
213,632
Margaret Oscilia
Creative Concepts-Home Staging and Contracting, Salem Oregon - Salem, OR
Home Stager, Salem Oregon

This information is presented in a way that home sellers will really be able to identify with -- I really like it and will use it in our area.  It should help sellers realize what they need to do to prepare to sell and price correctly so they are in that small percentage that is selling!

April 10, 2009 01:13 PM #1
Anonymous
Anonymous
high end buyer on the sidelines

Simple.  If your homes asking price is greater than $400K you need to lower it to $400K or less.  The days of getting over $200/sq.ft. are over.

April 30, 2009 05:48 PM #2
Anonymous
Anonymous
Mumstheword

You are one of only two real estate salespeople in this tri-county area that I've come across who is presenting honest and straightforward information meant to be helpful to buyers and sellers and not just living in the ozone about this market.  Those of us stupid enough to want to be lied to can just tune in cable news, or read the Washington Post...but most of us aren't...and I for one appreciate your effort to present this helpful information.  I've seen this site referenced on several blogs I follow here in Bend.  Three cheers!

May 15, 2009 01:16 AM #3
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Rainmaker
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Alisha Alway Braatz

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