Bend Area real estate report for 1/1/12 thru 8/9/12:
New Home Sales = 2,059: an 11% increase over same period in 2011
Average Price = $250,553; an 8% increase from same period in 2011
Condominium Sales = 25, a 12% increase over same period in 2011
New Land Sales = 230; a 24% increase over same period in 2011
Average Price = $90,265; a 6% increase over same period in 2011
In summary, our area market has seen a steady increase in overall number of sales with a large number of sales in the low to mid-range. There appears to be some stabilization of pricing as inventory is down slightly from last year with brisk sales. Also, homes above $500K are also starting to move, however, higher priced homes still represent an amazing value from previous years prices. The 2,000 plus transactions in Bend area this year would indicate that the word is out.