Bend Real Estate Market Showing Mixed Results

The June 2019 figures for Bend Oregon real estate trends have been published and the results are mixed. While June had a surge in new listings, the numbers were similar to the year before. And while we are entering our summer peak selling season, in some categories the trends point down.

When June 2019 is compared with June 2018 for Bend single family home sales on less than an acre, the following data are seen:

• Homes listed for sale down .3% from 607 to 605
• Homes sold down 10.9% to 266
• Homes pended down 4.5% to 233
• Average price per square foot up 4.8% to $261
• Average days on market down 5.6% to 89
• Sold to original price difference down 1% to 98%
• Average active price up 4.6% to $689,000
• Average sold price up .8% to $523,000
• Months of inventory based on closed sales up 13.1% to 2.6 months

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Bend Luxury Homes Sales Growing

Bend's high end real estate market has been trending upward for several years. Almost unheard of less than 10 years ago, the sale of million dollar homes in Bend has become common and the construction of million dollar spec homes the norm in several Bend neighborhoods.

From July 2018 through June, 2019, 67 Bend homes priced between $1,000,000 and $1,299,999 have sold, a figure that is up 11.7% over the previous 12 months. For homes priced $1,300,000 to $1,599,999, 29 Bend homes have sold, up 11.5% over the same period a year before. Homes priced between $1,600,000 and $1,999,999, the figure is 13 homes, up 30% and for the very high end, the $2,000,000 or more price point, the figure is 7, which is up 75% over that same 12 month period.  This data pertains to Bend single family homes on less than an acre.

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Bend Real Estate Sales Are Strong

Spring has arrived in Central Oregon and homes are selling! After a series of months in which Bend home sales had dropped while prices continued to rise, May 2019 has provided a 180 degree turn around. The number of Bend homes for sale jumped 34.8% and the number of homes sold rose 29.9% from April, 2019. After an unusual winter with late heavy snow, overcast skies and heavy rain in April, sellers decided at last that May, with the sun out and longer days, was a great time to list.  When May 2019 is compared with May 2018 for Bend single family homes on less than an acre, the following changes can be noted:

• Homes for sale are down 1.3% to 535
• Homes sold are up 2.2% to 230
• Homes pended are up 11.6% to 269
• The average price per square foot is up 9.6% to $263
• The average days on market are up 6.1% to 104
• The sold/original listing price difference i...

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How High Can Bend Real Estate Prices Go?

The April 2019 sales figures for Bend single family homes on less than an acre are out and the results are dramatic. While new home sales surged in April, following a seasonal trend with 252 pending sales, the numbers of homes available and those closed in April are definitely down. And while prices continue to climb, the average days on market are also up. The following compared April 2018 with April 2019 for Bend single family homes on less than an acre:

• Homes for sale down 13.5% to 397
• Homes sold down 10.2% to 177
• Homes pended down .4% to 252
• Average active price up 6.8% to $694,000
• Average sold price up 12.4% to $552,000
• Average price per sq ft up 8.9% to $258
• Average days on market up 19% to 125
• Sold/original listing price difference percentage down 10.2% to 88
• Months of inventory based on closed sales...

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Bend Oregon Real Estate - What's Up with Bend Luxury Homes?

Bend's high end home market is growing.  There is demand for homes in the million dollar plus category that was unheard of just a few years ago.  The number of Bend luxury home sales is up while inventory levels are down, and with prices continuing to increase, this trend does not appear to be stopping anytime soon.  The following information includes data from the last 3 years with each bar reflecting 12 months.

As you can see, the number of homes sold over a million dollars has trended upwards over the past 3 years. Even those homes priced over $2,000,000 have increasing sales.  And while sales are increasing, inventory levels are dropping.

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