Posts in category 'Bend Oregon Real Estate Trends'

Is it Now Time to List Your Bend Oregon Home?

After the long, hard winter we experienced in Bend, Oregon this past year, some small signs of spring are at last emerging. We saw these crocuses today breaking through the soil and brightening our dormant yard with their beautiful color. These signs of spring, along with our longer days, make us realize that winter may finally be over; for sellers who were waiting for better weather prior to listing their homes  - now is the time!

According to data from Central Oregon MLS, there are less than 2 months supply of single family residential homes in Bend based on pended properties; this includes all homes at all price points. If the $1,000,000 plus properties are taken out of the data, there are under 1.8 months supply. We have buyers looking for homes, and very little for them to purchase. Don't wait for summer to list. Call your favorite

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Bend Home Sales Continue to be Strong

It is with great interest that we reviewed Bend real estate data from January, 2017. This past January has seen some of the most snow on record for Bend, with many school days canceled, roof ice dams common and streets piled with snow which made showing property very difficult. Despite these problems, January 2017 single family residential home sales in Bend under 1 acre remained strong with 4.2% more properties in pending status in January 2017 than were during January 2016. Inventory levels were 19.1% less and 19.8% fewer properties closed, but of the properties available, more entered into contract during our difficult winter weather in 2017 than did in our more temperate weather January 2016.

Bend Home Prices Are Up

Home prices continue to climb with the average price per square foot of January Bend home sales up 4% to $207 per sq...

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Bend Oregon 2016 Lot Sales Data Show Varied Message

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Bend Real Estate Sales Show Growth

2016 was a year of continued real estate growth in Bend. When 2015 data is compared with 2016, the average sales price of a Bend single family home was up 12.5% with the average sold price up 9.3%.  There were 3.4% more homes sold in 2016 than in 2015 with 6.9% fewer properties available for sale. This has aggravated our lack of inventory and continues to push prices up. The average single family Bend home sold for $386,000 in 2015 and in 2016 it sold for $422,000.*

Lack of Bend Housing Inventory Remains an Issue

In late 2015, the expansion of Bend's urban growth boundary was finally approved. This need for additional development land has existed for over 10 years and finally the city was granted permission to increase Bend's size - but not by the 10,000 acres requested in 2006, but rather by less than 3...

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There are many ways to look at real estate trends in Bend, Oregon. Among the most in interesting is to compare sales over the last twelve months with those of the previous year. While the actual numbers of properties sold are up just slightly at 3%, the value of the property is up significantly at 11% on average, with the biggest increase found in the sale of multi-family properties at over 30% followed by commercial buildings at 22%.*

There has been a significant lack of affordable housing in Bend over the last few years with the rental vacancy rate less than 1%. This helps to explain the reason that multi-family properties have increased so much in value. Anyone driving around Bend's eastside will see many new apartment complexes under construction. Hopefully once completed, these new apartments will help ease some of the burden the lack of affordable homes has had for many Bend residents.

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