February 11, 2017

Housing market trends from the end of 2016

From Central Oregon Association of Realtors

Decreases in Sold Volume, and Rising Home Prices in 2016


The Central Oregon Association of REALTORS® released end statistics for single family homes for of the year 2016. Areas with the smallest percentage of total sold also saw the biggest increases in pricing. Below is a brief snapshot of the of the market in 2016 compared to 2015:

Bend
· The median home price for residential homes under one acre rose 9% while the total number of homes sold rose 3%.
· The median price for residential homes over one acre rose 12%, but the total number of homes sold dropped 3%.
· The median price of land and lot rose 13%, but the total number sold dropped 3%.
· The median price of townhomes and condos rose 3% and the total number of sales rose 10%.


Crook County
· The median home price for residential homes rose under one acre 16% and the total number of homes sold rose 9%.
· The median home price for residential homes rose over one acre 11% and the total number of homes sold fell 1%
· The median price of land and lots fell 26% but the total number sold rose 27%.


Jefferson County
· The median home price for residential homes under one acre rose 14% and the total number of homes sold decreased 17%.
· The median home price for residential homes over one acre rose 2% and the total number of homes sold increased 29%.


LaPine
· The median home price for residential homes under one acre rose 6% and the total number of homes sold rose 11%.
· The median home price for residential homes over one acre rose 11% and the total number of homes sold rose 3%.


Redmond/Terrebonne
· The median home price for residential homes under one acre rose 12% and the total number of homes sold rose 7%.
· The median price of townhomes and condos rose 2% and the total number of sales rose 38%.


Sisters
· The median home price for residential homes under one acre rose 11% and the total number of homes sold rose 13%.
· The median home price for residential homes over one acre rose 13% and the total number of homes decreased 14%.


Sunriver
· For residential under one acre the days on market decreased 55% and the median sales price rose 4%
· Townhome and condo days on market decreased by 58%, the median price rose 9% and the total number of solds increased 32%.
· The median price of timeshares and shared interest rose 21%

More information is available at www.coar.com.

The Central Oregon Association of REALTORS® (COAR) is your voice in real estate industry in Crook, Deschutes, Jefferson and Harney Counties. COAR serves REALTORS® by maintaining ethical standards, providing continuing education, promoting the value of REALTORS®, and advocating on behalf of the real estate industry. COAR serves the public by working to build better communities by supporting quality growth and seeking sustainable economies and housing opportunities that embrace the environmental qualities we cherish, while protecting a property owner's ability to own, use, buy, and sell property.


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