Thursday, April 9, 2009

Bend home values fall 25% in a year

From the Bend Bulletin:

The median sales price for a single-family home in Bend rose in March to $221,000, an increase of 2.79 percent from February but off more than 25 percent from March 2008, according to a local real estate analysis released Tuesday.

On a quarterly basis, the median sales price in Bend was down 12.55 percent compared with the fourth quarter of 2008 and down 27.6 percent from the first quarter of 2008, according to the Bratton Report.

Produced by the Bend-based Bratton Appraisal Group, the report also showed that single-family home sales in Bend in March rose to 89, an increase of 37 percent compared with 65 sales in February but down 4 percent from March 2008.

I'll post my market summary for Q1 soon.