Posts in category 'Bend Oregon Real Estate Trends'

Bend OR Builders Cannot Keep Up With the Demand

Everyone living in Bend should be aware that a lot of new residential homes are being built. Just drive through town and new subdivisions and new in-fill on what used to be open space are popping up throughout the city. Builders are finding it difficult to keep up with the demand and people working in the building trades are stretched thin with far more work than they can handle. This demand is  leading subcontractors to charge more to keep their employees well paid and to make a good profit, suppliers charging more for their building materials, and home prices for new construction rising as a result.

When comparisons are made between new residential construction over $1,000,000 from 2016 to 2017, the following statistics can be noted:

• Homes for sale up 6.3%
• Homes sold up 66.7%
• Homes pendi...

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Bend Real Estate Market Shows No Sign of Slowing

The 2017 year end data is out and the Bend real estate market continued its upward trends. Outside of the slowdown experienced during the winter of 2016/2017 where Bend residents were more concerned with ice dams and heavy snowfall than selling or buying property, the data from 2017 mirrors what we have been experiencing since leaving the recession of 2008-2011. Bend home prices keep rising and people keep buying.

The following data compares Bend single family home sales from 2016 to 2017

• Number of homes for sale up 11.6%
• Average price per square foot up 9.5%
• Average active price up 7%
• Average sold price up 10.2%
• Months of inventory based on sold sales remains le...

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Bend Real Estate Sales Slow As Winter Approaches

As the days shorten and the weather gets colder as we approach the start of winter and the end of year holiday season, real estate sales in Bend typically slow. The November 2017 trends are no different than what we traditionally see this time of year.  When November 2017 trends for Bend single family home sales are compared with November 2016, the data show as follows:

• Number of homes for sale is up 8.6%
• Number of homes sold is down 3%
• Number of homes pended is down .6%
• The months of inventory based on closed sales is up 8.8% to 2.5 months

Given the continued demand for Bend single family homes, as expected prices continue to rise comparing November 2016 to November 2017:

• The average sold price per square foot is up 5.6% to $228

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Bend Single Family Home Sales Are Up

The October home sales numbers in Bend provide data which reflect a strong market. Coming out of a summer with an unprecedented number of wildfires which greatly impacted tourism, real estate sales this fall have come roaring back with a large number of closings, new inventory and a continued uptick in home prices.

Comparing October 2016 with October 2017, Bend real estate trends show the following:

• The number of homes for sale are up 17.2%
• The number of homes sold are up 15.2%
• The number of homes pended are up 2.2%
• The average price per square foot is up 7.3% to $234
• The months of inventory based on closed sales is unchanged
• The average active home price is up 8% to $647,000
• The average sold price is up 12% to $475,000
• The average day...

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Central Or Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon Single Family Home Inventory Levels Remain Low

DuringÂ...

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