Activity in the Bend, Oregon, real estate market increased in April, setting calendar-year bests for active listings and average days on market. The median sales figure dropped from the month before – as has happened in previous Aprils – but was 6.5 percent more than in April 2017.
April’s median sales figure was $415,250. That is down 1.6 percent from March ($421,950) but is the third-highest figure for any month dating to the start of 2007.
April 2018 marked the fourth time in the last six years that the median sales price in an April dropped from the month prior. But April’s dips – when they occur – haven’t signaled a long-term trend. In fact, looking at the last six years, the end-of-year median price has been higher than April’s median price five times.
There were 416 active listings in April. That is the most for April since 2015, when there were 424. The average days on market in April was 121 days, which is the fewest for any April in the 11-year data set except for last year’s 102 days. This indicates that even with a solid number of homes on the market in Bend, Oregon, they are selling at a relatively brisk rate.
The inventory of homes in April was 5.5 months. That figure is close to the six months generally accepted as the dividing line between a buyer’s and a seller’s market. In every price tier less than $725,000, however, the inventory in April was no more than 2.7 months. So, homes that are attainable by the largest segment of the buying market remain in relatively short supply.
Another figure worth looking at is homes with reduced prices as a percentage of homes sold. In April, that was 41 percent, the lowest of 2018.
There were 267 homes pending as April closed, another calendar-year high and a signal that May should be another active month.
Spring and summer are typically the busiest months of the year in real estate, and I’m prepared to help you regardless of where you are in the market. If you’re considering selling your home or looking to buy, I offer skills, experience and ethics that can’t be surpassed. Please contact me at (541) 383-1426 or visit Bend Property Search to connect with me through my website.