Bend Or Single Family Home Sales Are Slowing

We wrote a blog a few weeks ago in which we noted that it appeared that Bend Oregon single family home sales were slowing when compared with the year before. This blog, "Is the Central Oregon Real Estate Market Slowing Down?"  looked at inventory levels and showed that there was an uptick in the number of single family homes in Bend, Redmond and Sunriver for sale from the same 12 month period the year before.

The September statistics have now been published for Bend home sales and it appears that the slowing trend is continuing. When September 2018 Bend single family home sales on less than an acre are compared with September 2017, the following change can be seen:

• Homes for sale down 5.8% to 596

Click Here to Read More...

Bend Single Family Home Prices Still Rising

The figures from August, 2018 Bend real estate sales are published and the price of a Bend single family home continues to go up. While the trend upward in the asking price of a Bend home appears to be leveling off, the sold price is still rising with the average price per square foot now at $255.  The following data compares August 2017 sales of Bend single family homes on land under an acre with those from 2018:

• Number of active homes for sale down 6.4% to 619*
• Number of homes sold slightly up .8% to 255
• Number of homes pended up 8.7% to 238
• Months of inventory based on closed sales down 7.7% to 2.4
• Average days on market down 11.8% to 90
• Average price per sq...

Click Here to Read More...

Bend Homes for Sale Vs Sold

Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas.

We are seeing a transition in the Bend real estate market and a slight increase in inventory.  The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:

Click Here to Read More...

Bend's Luxury Home Sales Trending Up

As the American economy continues to improve and citizens have more confidence and money to spend on housing, the value of real estate has grown across the country.  Bend is no exception. Bend's average home price has grown by roughly 10% per year since coming out of the great recession, greatly due to the demand on housing coming from new residents moving to Central Oregon in large numbers. For many of these new transplants, the real estate market in their original city is greatly inflated and home values way beyond those of Bend. When they sell, they can often pocket a large amount of cash from the equity in their home. This in turn has driven up housing costs within the city as these new Bend residents can afford to purchase property which is beyond the ability of many locals. 

How High Can Bend Or Luxury Home Prices Go?

Unhear...

Click Here to Read More...

Are Bend Oregon Home Sales Leveling Off?

The July 2018 figures are out and there has been a change in the sales trends for Bend single family homes. Since coming out of the great recession, home sales in Bend have been strong with pended and sold trends consistently higher than those from the year before.  While the average price per square foot continues to rise, the actual numbers of homes sold and pended are down.  When July 2018 is compared with July 2017, the following data can be noted for Bend single family homes on less than an acre:

• Homes for sale down 2.9% to 643
• Homes sold down 6% to 233
• Homes pended down 4.3% to 222
• Average active price up .6% to $654,000
• Average sold price up 5.5% to $502,000
• Months of inventory based on closed sales up 3.7% to 2.8
• Average price per square foot up 2.8% to $253*

Click Here to Read More...