Thursday, May 14, 2009

Bend homes half off

From the Bend Bulletin:

The median price for a single-family home in Bend fell to $195,000 in April, but sales surged, according to the monthly Bratton Report released Tuesday. The median was last below $200,000 in early 2004, according to The Bulletin’s archives. The median price fell 27.8 percent from the April 2008 price of $270,000 and 50.8 percent from its peak of $396,000 in May 2007. Bend home sales, though, rose nearly 18 percent — from 89 in March to 105 in April. Sales rose 12.9 percent from April 2008.

Two years later homes are half off. The market is still in terrible shape so I wonder how much it will 'over correct'.