Real estate prices in Bend have been going up steadily over the last
five years. According to statistics from the Multiple Listing Service
of Central Oregon home prices have almost doubled in the last four
years. The MLS shows that the number of sales of homes in the third
quarter of 2006 was down 19.32%. However the average sales price was
up 25.09% during the same period. These statistics can be misleading
because of the lag time of the new home sales and the final closing
date.
Some new homes are put under contract before the foundation is poured.
This can leave 6 to 12 months before the home is completed and closed.
All statistics from the MLS are based on the "Sold" date. Therefore
these statistics are skewed. The sale is not reflected properly.
Prices are actually coming down this fall and probably will continue
through the winter as the inventory continues to build. It is taking
longer for homes to sell and there are more homes for buyers to choose
from.
The real estate markets in California, Arizona, Florida and other key
states are leading indicators on how the market in Bend will do.
In1989 real estate values in Bend jumped 35%. Out of state buyers from
California, Florida, Arizona, Wa****ngton State and other hot markets
were selling their homes for large profits and moving to Bend to buy
larger homes. 1990 and 1991 saw the out of state markets dry up with
prices falling. The Bend market followed these markets before it
picked up again....
http://groups.google.com/group/szdrealestatel
