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Tuesday, April 16, 2013

March 2013 Bratton Report


It looks like we are into a classic Central Oregon weather pattern for spring. Snowstorms today then we head back to sunny skies and temperatures up towards the sixties for the end of the week. When you are looking for defined seasons you need to look no further than Central Oregon.  I think that we have some of the most pronounced seasons, sun and dry high desert warmth in the summer, sunny days with spectacular foliage colors and cool crisp nights in the fall, snow in the winter and the mix of snow, blossoms and sun in the spring.


Mother Nature is not the only one who is coming to life this spring this month’s Bratton Report is showing the best median pricing for Bend homes since the fall of 2008, or would that be when the market fell in the fall of 2008. The number of homes sold for the month also has rebounded from the previous five months winter decline. While the number of sold is not near our highs it indicates a return of buyers to the market above $400,000. This I believe is a good sign as it will free up inventory in the lower brackets as homeowners seek to take advantage of today’s low interest rate and purchase more home for their buying dollar.


Currently the inventory remains tight and new properties that are listed seem to get gobbled up as soon as they appear on the market. This is evident by the decline of how many days properties are remaining on the market. Builders seem to be attune to the thin inventory as they continue to apply for building permits. The level of permits has remained relatively consistent for the last three quarters, that level is one which has not been seen since the spring of 2007.


While some feel today’s market conditions are another bubble, we are hopeful that this is a sustainable trend that will moderate and remain consistent.


Follow this link Duke Warner Market Trends Report and Bratton Report for this month and prior month’s history of activity. If you have questions about the Bend real estate market and need a source for information, please contact me, Bill Panton.  I am glad to assist you in making informed decisions about Bend and Central Oregon.


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