Bend Or Real Estate Sales Remain Strong

We sound like a broken record, but the trends for Bend single family home sales continue their upward tract.  When 1st quarter 2018 statistics are compared with 1st quarter 2017, the following data is seen:

• Homes for sale up 23.3% to 444
• Homes sold up 14% to 506
• Homes pended up 6.7% to 620
• Average price per square foot up 9.5% to $235.75
• Average days on market down 8.5% to 118
• Average active price up 2.2% tp $646,00
• Average sold price up 10.8% to $484,000
• Months of inventory based on closed sales up 8.6% to 2.5*

Bend Continues Strong Sellers' Market

Part of the increase in sales during 1st quarter 2018 compared with 1st quarter 2017 has to be attributed to our relatively mild winter. We cannot forget the record breaking snow fall we had last winter, and when that is factored in, the increase in inventory and sales can at le...

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Amelia Earhart Did Not Live in Bend

But her husband, George Putnam, did. George moved to Bend in 1909 and quickly become a city mover and a shaker. He was the editor and publisher of the Bend Bulletin and married Dorothy Binney (heiress of Crayola Crayons) in 1911 and became the town's youngest mayor in 1912. George later became a war correspondent and he worked in politics in Salem.

In 1919 George sold his Bend home and his interests in the Bend Bulletin and left Oregon, moving to New York where he worked in his family's publishing business (Putnam books), including publishing the autobiography of Charles Lindberg. It was here he also met Amelia Earhart, eventually becoming her publicist.

George and Dorothy divorced in 1929 following her affair with a man 19 years younger than her. George then became involved with A...

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Bend New Construction 5 Year Trend

For the past few years, we have been reporting that Bend home prices have been rising. From almost no new construction during the great recession to now where it appears that new homes are being built all over town, Bend has recovered from the downturn. New home trends in Bend have gone from $430,000 to $591,000 asking price (up 37.5%) and $315,000 to $522,000 selling price (up 65.7%) over the past 5 years.*  Ask any builder and they will tell you that land prices, rising material costs and labor shortages have driven the price of Bend new homes.

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Bend Oregon Home Sales Stay Strong

Over the last few years, we have reported that single-family residential home sales in Bend have stayed strong and prices keep rising. February 2018 has been no exception to this trend. Home prices continue to rise and lack of inventory remains a serious issue. In addition, the relative lack of snow in 2018 has kept sales and new listings growing when compared with the record breaking snowfall experienced in 2017. The following data is for single family homes in Bend on land under an acre reflecting February 2017 and February 2018:

• Homes for sale up 24.4% to 540
• Homes sold up 31.4% to 201
• Homes pended up 18.1% to 228
• Average price per square foot up 7.2% to $237,000
• Average days on market down 8.5% to 118

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Central Oregon Real Estate Home Prices Trending Up

Those who have lived longer than 5 years in Central Oregon have seen home prices rise at a rapid pace, especially in Bend and Redmond.  The average price for a single family residential home in Bend has risen over $200,000, the price for a Redmond home has more than doubled, Sisters homes are up 40% and Sunriver home prices have risen 22% in the last five years. 

Our Predictions for Central Or Single Family Homes

The question can be asked, will Central Oregon home prices start to level off?  Have we reached the top? Obviously affordability for locals has been an issue for several years. But for new Central Oregon residents, the price for a Redmond or Bend single family home is extremely inexpensive relative to the home prices...

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