The Central Oregon Realtors Association (CORA) released their quarterly data this month.
Bend’s average sale price for the second quarter of 2009 was $253,400; down 32% from the same quarter the year prior. The Bend market peaked in the third quarter 2007 and prices have fallen 43% since then.
Please note that the median price is year-to-date.
363 homes sold during the quarter; up 15% from the same quarter the year prior.
The final graph shows how affordable the median priced home is for a family of four. History indicates the ratio is usually between 2.5 and 3.0. Prices would have to fall 18% from the current median for the ratio to reach 3.0.
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