Bend Real Estate Market Trends March – May 2016

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The summer real estate season is now in fulls swing. Meaning more homes on the market and more real estate transactions. Listed homes in Bend have finally increased in May of 2016 as seen below:

-March 2016 listings: 507
-April 2016 listings: 531
-May 2016 listings: 635

Listings are still a little low compared to the 662 homes that were listed in May 2015.
In addition, pending home sales have taken a slight drop since April as seen below. However, pending sales are still comparable to past months and years. In May 2015 there were 302 pending sales.

-March 2016 pending sales: 277
-April 2016 pending sales: 320
-May 2016 pending sales: 288

Real estate sales have also increased in May 2016 as seen below.

-March 2016 sales: 227
-April 2016 sales: 238
-May 2016 sales: 276

Sales are right on track with seasonal trends. In May 2015 there were 275 sales in Bend, Oregon.

Home sales and pending sales have been holding steady despite the increasing price per square foot, with another large jump between April and May as seen below:

-March 2016 price per sq ft: $205
-April 2016 price per sq ft: $211
-May 2016 price per sq ft: $215

The price per square foot is continuing to increase by leaps and bounds. Previous years have seen stable increases over the past few years. The last few months have had more dramatic increases in the price per square foot. Since January 2016 the average price per square foot has increased by $15.