We never get tired of reporting good news! And the Bend, Oregon housing market has definitely had a lot of good news lately. Firmer prices and more home sales are just a couple of the trends we're seeing here locally: home sales and prices continue to outpace the previous year while the inventory of homes listed for sale grows smaller. This a pattern we all like to see!
The chart below outlines specific comparisons from 2011 to 2012. Active Bend, Oregon residential listings are showing a downward trend for inventory, which means good things for sellers - there are fewer homes on the market to choose from. For buyers, this begins to present limited choices and reminds us that the market is capable of extreme cycling in a relatively short amount of time.
The trend represented in the table above began to take shape last spring, after which the percentage gap between year-to-date home sales (up) and inventory levels (down) compared with the previous year increased month by month before plateauing late in the year. This contrasts with a basically flat market in 2011 versus 2010. We break out NorthWest Crossing is a separate sub-market that can be considered an object lesson on the positive relationship between neighborhood planning and home values.