The Real Estate Market in La Pine and the surrounding areas is coming back, and in a big way!!
That’s right, I said it. (Gulp.)
Finally, after more than four years of decline, demand for Central Oregon Real Estate is up and the buyers are back. Halleluiah! I’m happy to report that beginning with the strongest 2011 Fall, many of us have ever seen, we’ve seen brisk activity that has somehow, some way, continued to maintain itself through the winter to what now has become one of our strongest Summers ever.
I’ll quote some actual statistics later, but this is the best market we’ve seen in quite some time, and for many of us, it’s never been busier, ever.
Prices are still lagging behind however, but the influx of mostly investor activity that we saw beginning last year, buying up cheap, flip-able or potential rental property, demand has given way to what appears to be “real” buyers looking for homes that they actually intend to live or vacation in. This is very, very good news indeed because this will inevitably trigger higher prices and a much healthier market overall in time.
Statistics supplied by MLSCO Central Oregon indicate that Bend residential sales are up 12.6% over the same period in 2011, residential Sun River is up 20.8% and La Pine residential with acreage is up 2.22% with 20% of those sales being “short sales” and 36% being “Bank Owned.” I have a feeling, judging by what I and many of my colleagues are felling, that once the new quarterly statistics come in, a very strong third and fourth quarters should be indicated.
Let’s keep our fingers crossed!
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Fred Jaeger is a licensed Oregon Principal Real Estate Broker and an e-PRO and CDPE Certified Realtor® with High Lakes Realty in La Pine Oregon. He can be reached directly via 541 598-5449 or fred@fredjaeger.com .
