The October 2012 Bratton Report for Bend, Oregon is Now Available…

October in Central Oregon is spectacular a great time to visit, cool nights, warm clear days and vibrant colors with our fall foliage. Real Estate sales for the month also remained quite vibrant. Where last month according to the Bratton Report we saw a drop in the median price of a Bend, Oregon home, October recovered a third of that slide by coming up to $230,000. When using our Duke Warner Market Trend Report this month’s gain can be traced to the increase in sales of the $325,000 - $425,000 price range. We nearly double out total from the previous month. The market trends report shows that the other price classes saw slight ups and downs for each price class that balanced each other out.


I would expect for November our numbers will take their traditional slide as folks get ready for the holidays. This trend will continue through the first of the year until the holidays pass we then traditionally start a slow recovery into spring. As I mentioned in an earlier blog piece we are currently experiencing a mini bubble which has been brought on by the lack of available inventory. With the current low interest rates and home prices that are quite reasonable buyers are slowly pushing the market trend to a seller’s market.

I would anticipate that this trend will hold until late next spring as home owners develop more confidence in the economy and the local real estate market. It is then they will decide to make their return as sellers and buoy our inventory. At that point I expect to see both sides (buyers and sellers) advantages equal out, while both sides make the most of the low interest rates, while they last.

Possibly you will be one of the bold ones and take advantage of the current trend. This is a great time to get your home sold, holiday staging is the best. If you would like to know more about the market feel free to contact me, there is no obligation and I would love to share what I know with you.

On a larger note Thanksgiving and skiing are just around the corner, I urge you to make the most of both. Life is good here in Central Oregon, we should be thankful for being able to live in such a great part of our country. Central Oregon offers us so much but not all of us are so fortunate, if you can this season help someone less fortunate there are many good causes, pick your favorite and make someone’s holiday a much brighter one.