Real Estate Market Trends for January 2020

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Sales of residential homes in Bend were up 23% this December despite fewer active and new listings, and the median home price rose 3% month-to-month, based on the newest data we have for the local real estate market.

The median home price is now $439,995, up slightly from $431,000 in November, and up 3% from December of 2018. Because monthly data tends to fluctuate, we like to compare monthly trends to annual ones, and we’ll be sharing our in-depth annual market trend study with you soon. In the meantime, the 2019 average median home price in Bend was $450,000, a 6% increase in value from 2018 when it was $425,700.

Although buyer activity is strong, fewer homeowners listed their properties this December compared to last year, making this a great market for listing your home.

In December, 206 Bend homes sold, 7% above the annual average for 2019, and a 29% increase in sales from December 2018. Although buyer activity is strong, fewer homeowners listed their properties this December compared to last year, making this a great market for listing your home. Putting your home on the market in winter, especially in a desirable mountain town like Bend, can have many advantages including less competition among active listings. Interestingly, it’s not taking more time to sell a home based on the December data; the average  “days on market” for listings in December was 113 compared to 119 in November.

Not only are there fewer homes actively for sale right now, but there are fewer active listings for lots as well. There were 9% fewer lots for sale in December than November, and 28% less since September. There are amazing opportunities to build your dream home in quiet, established neighborhoods on the west side near public lands, including this one on McClain Drive and this one in Valhalla Heights.

For a deep dive into the current real estate market trends for Bend, click here, and we’ll be sharing our annual market trend study with you soon.

Ready to explore your real estate goals for 2020? Do not hesitate to contact our team for expert for advice on achieving them. Happy New Year!

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