We are in the midst of the real estate season. Listings over the past few months have increased steadily as seen below:
- May 2015 listings: 662
- June 2015 listings: 749
- July 2015 listings: 810
However, listings are still lower than last year. In July 2014, 891 homes were listed on the market in Bend, in comparison to only 810 homes being listed this year. Last year the market inventory reflected 3.3 months and was growing by the end of the summer. This year market inventory reflects only 3 month.
Pending sales have been slightly sporadic over the past few months with a dip in June pending sales, then a slight increase in July pending sales, as seen below:
- May 2015 pending sales: 302
- June 2015 pending sales: 254
- July 2015 pending sales: 286
Interestingly this slight dip in pending sales in the month of June 2015 is also present in June 2014. One could speculate that this slight drop in pending sales in June may be due to school ending, families going on vacation or a myriad of other factors.
Sales too have been slightly sporadic. Due to June’s lowered pending sales, July’s have also decreased as seen below:
- May 2015 sales: 276
- June 2015 sales: 297
- July 2015 sales: 266
However, in comparison to last year, sales are holding steady. In July 2014, 267 house were sold in Bend.
In addition, the price per sq ft continues to increase as seen below:
- May 2015 price per sq ft: $191
- June 2015 price per sq ft: $197
- July 2015 price per sq ft: $201
The price per sq ft has increased quite a bit when compared to last year as seen blow:
- May 2014 price per sq ft: $179
- June 2014 price per sq ft: $180
- July 2014 price per sq ft: $191
Due to the increased price per sq ft, and the slightly lower than usual inventory, now may be a great time to enter into the real estate market. Especially if you want to sell your home. Feel free to contact us if you would like a free comparative market analysis for your home.