October 2012 Market Report for the Broken Top Neighborhood in Bend, Oregon

I am going to attempt to bring you a monthly activity report that should keep you up to speed with how real estate is doing in your favorite Bend, Oregon neighborhoods. At this point this is just an experiment with Broken Top as my first guinea pig.

October marks the first full month of fall, we had a pretty moderate weather pattern for the month which helped keep buyer interest high in most areas of Bend. The foliage colors this year were also a blessing adding some spectacular color to the landscape.

Now that the election cycle has passed and we will soon have a bit more clarity of where we are heading for the next few years, we should start to see more people decide to move on with their lives. Moving up, moving on, downsizing you name it the demand to make these moves has been pent up and I think folks are ready to get on with life.

Neighborhoods of the stature of Broken Top are beginning to move along but in a slower fashion than neighborhoods that have homes of lesser value. Buyers and sellers in this price point have been reluctant to join the recovery party. Sales have tailed off in October when compared to September. In September the Broken Top community had six homes sold compared to October’s single home. The neighborhood will carry a decent inventory of homes in to our winter sales period at fourteen. Generally once we get into the winter holiday period, starting with Thanksgiving and ending after New Years, fewer folks will want the inconvenience of having their homes listed. For staging purposes the holidays are a great time of the year to have your home available for touring since many homes are dressed up for the holidays. It may be the one time of the year you can get away with a slightly cluttered home.

If you have questions about the Bend real estate market and need a source for information, please contact me, I am glad to assist you in making informed decisions about Bend.

                                             List Price                                   Average

             Listings     low         high         average      median     price/sqft     DOM

Active         17   $349,000 $1,950,000   $935,632     $945,000      $233      206

New             3   $475,000    $549,000    $512,450    $512,450      $186        23

Contingent    2   $639,000    $799,900    $719,450    $719,450      $168      325

Pending        4   $329,000    $990,000    $525,750    $392,000      $186        99

Sold             1   $358,000    $358,000    $358,000    $358,000      $190       135