The government statistics that came out yesterday prove one thing. Bend is one of the top real estate markets in the country. A closer look at the statistics shows a little different story. These statistics did include home refinances. My analysis showed that the median priced home that sold was up 19.8%, still an unbelievable number. That is calculated on a price per square foot basis.
I broke down the 4th quarter sales of 2005 vs. 2006 even further and found:
- 1% Homes over 3,000 square feet
+4.3% Homes under 1,350 square feet
+7.6% All New Homes sold
One thing that the government report also showed was that 21 of the 26 California markets had negative home appreciation. The California market is a leading indicator to the Bend real estate market. So you can look for our market to go down this year. I do think this summer will be the bottom but no one really knows.
The statistics don't show the "perks" that new home builders are giving with their new homes. Granite counter tops, hardwood floors, appliances and back yard landscaping are just a few. Some are giving away $25,000 cars or making your payments for six months. There are also many more finished new homes on the market now than there has been in the last few years.
Interest rates are low and I see this as a good time to be shopping around and finding a bargain!
Here's a link to a Virtual Tour of Bend:
http://www.distinctivehometours.com/tour.asp?tour=BendOregon
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