Bend Home Prices Up In October The trend seen over the past four months changed in October when year over year Bend home prices rose rather than fell. Both average and median Bend single family home sales prices were up, perhaps a reflection of lower interest rates seen in September which enabled more home buyers to purchase higher priced homes or an unusual anomaly which was reflected with a large number of million dollar plus homes (over 35% of total home sales) closing. Typically in the fall, home sellers which did not sell their properties during the summer peak selling season will often discount their asking price - often generating offers. Of the sixty Bend homes that closed in October for over a million dollars, forty-seven closed significantly under their original asking price ... 11/05/2024

Bend Luxury Home Inventory is Up For Bend buyers looking for their ideal luxury home, there was a significant increase in the number of homes for them to pick from in 3rd quarter 2024. When we look at Bend million dollar homes, the categories of homes for sale over $1,300,000 had anywhere from 45% to 89% more listings for buyers to consider. It appeared that more sellers were willing to list their property in 2024 than in 2023, perhaps tied in with lower mortgage interest rates experienced in this time period; the cost to sellers for their financed replacement home would be less with lower rates, often making the seller determine that the time to list was then. Is it a Seller's Market for Bend Luxury Home Sales? We are seeing changes in the Bend high end market. Homes that sold quickly... 10/23/2024

Bend Home Sales Up With More Inventory and Lower Mortgage Rates It appears that the tide has turned and Bend home buyers are now experiencing lower prices, more choices with more inventory, and better interests rates. This has enabled more buyers to enter the market and more sellers to have confidence listing their home, knowing that their replacement property will cost less than it did just six months ago. This has generated more early fall business than we normally see and a more balanced Bend real estate market. When September 2024 is compared with September 2023, the following changes to Bend home sales can be noted: Average sales price down 11.3% to $837,153* Median sales price down 4.7% to $713,500 Original list price down 4.3% to $882,186 Median sales price down 2.8% to $737,400... 10/08/2024

What's in the September 2024 Bend Premier Real Estate Newsletter? Are Lower Mortgage Rates Spurring Bend Sales? Summertime Fruit Salad 10 Things to Do in September Take the Climbers Trail to Middle Sister Early Forecasts for the 2025 Housing Market See Bend Premier Real Estate for more great blogs. 09/13/2024

Are Lower Mortgage Interest Rates Spurring Bend Real Estate Sales? Mortgage interest rates have come down to their lowest rate in a year with the 30 year mortgage now at 6.35%. This has made a difference in both the buying and selling side of Bend home sales with buyers now being able to afford more than they could just a few months ago and sellers, who have been sitting on the fence on whether or not they wanted to give up their great mortgage rate for a new, higher one on a different home, feeling comfortable enough to at last list their home.  We are seeing more listings at lower median and average listing prices and more pending sales in August as a result. When August 2024 is compared with August 2023 for Bend single family home sales on less than an acre, the following changes ca... 09/09/2024

Bend Real Estate Sales at a CrossroadsThe data has been published and the trends we have seen for many years for Bend home sales have changed. Instead of seeing home sales prices increasing year over year, in July 2024 home sales prices decreased year over year. This change directly reflects on the increased inventory levels the town has experienced in the last few months. The Covid pandemic resulted in tremendous demand for Bend homes which drove the price up when inventory could not keep up with the number of people wanting a Bend home. Now, at a level pushing four months of supply, the Bend home market is at a transitional time with many more homes and a more limited buyer pool. High home prices and high mortgage interest rates have priced many out of the Bend market and sellers are ... 08/09/2024

Bend Luxury Home Buyers Have More Options The figures are out and the first six months of 2024 reflects an increase in Bend homes for sale over $1,000,000. The amount of Bend luxury home inventory is significantly up compared with 2023 and 2022 which leads to more options for the Bend home buyers who can afford a high end home. The days on market are rising and home sellers who really need to sell are recognizing that with more competition, asking price needs to reflect today's market.Bend Luxury Home Listings Are Often Experiencing Price Reductions During Covid Bend home listings were bid up with multiple offers to a point in which many homes sold over asking, even among the high end. In today's market, however, we are often seeing Bend home listings with price reductions. Sellers who... 07/23/2024

Bend Home Prices Up As Are Inventory Levels Bend home prices are up year over year but so are inventory levels. The rate of the increase in Bend home prices has dropped, but we are still not experiencing overall reduced home prices. While buyers have more options, mortgage interest rates (just short of 7% as of July 3, 2024) remain high which has limited the buying power for many. July typically is the busiest month of the year for Central Oregon home sales and it remains to be seen whether the combination of high prices and high mortgage interest rates will curtail Bend real estate sales this summer.When June 2024 is compared with June 2023, the following changes for Bend single family home sales on less than an acre can be noted: Average sales price up 5.9% to $969,547* Median sales ... 07/09/2024

The Hike To Tumalo Mountain Still Has Snow 6-22-24 After a winter which had good snowfall, hiking into the high Cascades has been delayed due to the snow accumulation. However, the warm days experienced over the past week have aided snow melt.  Last Saturday, June 22, 2024, enough snow had melted on Tumalo Mountain to enable hikers to walk the 1450 feet of elevation gain in two miles from the trailhead to the top. It appeared as if half the time the trail was covered by snow, but it was fairly easy to follow the route until the last 1/2 mile; GPS helped navigate this as did microspikes over ice.The hike up Tumalo Mountain is only 2 miles, but the views from the top toward South and Middle Sister, Broken Top, and Mt Bachelor can be spectacular. For those who take the hike early in the d... 06/25/2024

What The Puzzling Trends For Bend Home Sales Tell Us The May 2024 data has been published and it appears that Bend home buyers have more options. Inventory levels are up, but so are prices and overall sales are down. Basic economics tells us that as supply increases, prices should decrease. But right now, the supply of Bend homes has grown along with a slight uptick in home prices with sales significantly down from the year before. Adding to the confusion are mortgage interest rates. According to Freddie Mac, mortgage interest rates were above 7% for most of the month of May which impacted the purchasing power of many potential Bend home buyers.                      What Were The Bend Real Estate Trends May 2024? When May 2024 is compared with May 2023, the following data reflects Bend... 06/06/2024

Are Bend Luxury Home Prices Stabilizing?It has been a while since we have done a careful analysis of the high end Bend home market. Overall, the Bend real estate market has seen growth in inventory levels along with high mortgage interest rates and a more normal increase in home prices. The same cannot be said for the luxury market. For Bend luxury single family homes on less than an acre, inventory levels and sales prices appear to have stabilized with only a slight increase in the number of homes priced between $1,000,000 and $1,600,000. For homes priced over $1,600,000, there has been a decrease in sales price over the past twelve months. The Number Of Bend Luxury Homes Selling Is Down Along with high mortgage interest rates comes issues with affordability. Even with the luxury home ... 05/17/2024

Bend Oregon Home Inventory Levels Rising Bend real estate is entering its peak selling season from late spring until early fall. With this season a rise in home inventory levels typically leads to greater buyer interest and more sales as buyers who may have been sporadically looking for homes get more serious about their purchase, often wanting to negotiate a sale and closing before fall. Sellers who may have been waiting until spring and summer when landscaping is alive and curb appeal can be its best will put their homes on the market hoping to sell quickly. And real estate brokers may find that both buyers and sellers they have been in communication with through winter are now ready. The April figures for Bend single family home sales on less than an acre reflect rising inventory le... 05/09/2024

Hayden Homes Amphitheater In Bend OregonNestled in the heart of Bend's Old Mill District along side the Deschutes River, Hayden Homes Amphitheater stands as a testament to the harmony between nature and music. With its picturesque surroundings and state-of-the-art facilities, it has become a beacon for music enthusiasts and performers alike.2024 Season of ConcertsThe 2024 season promises to be a spectacular journey through a diverse range of musical genres, catering to every taste and preference. This year there are so far 49 shows on the books including Rock, Classic Rock, Indie-Alt, Pop, Country, Reggae and a few high-profile comedy acts.  To name a few:  Sarah McClachlan, Dave Matthews Band, Vampire Weekend, Stray Cats, Cage the Elephant, Matt Rife, Illza, Nickel Creek, The Avett Bro... 04/23/2024

Discovery West Is A New Westside Bend Oregon Subdivision Discovery West is the latest subdivision in the NorthWest Crossing area of Bend's Westside. Developed west of Summit High School and with 40 acres of parks with miles of trails, the project offers a variety of housing options, ranging from apartments, town homes, cottages and single-family homes. Discovery West is being built under the "transect" concept of urban development in which the housing density decreases the further out people go from the urban core. The goal with this type of development is to help mitigate wildfire risk and the impact on wildlife.  Discovery West Is Popular With Bend Home Buyers There is a lot of new construction occurring in Discovery West.  As a new subdivision, many contractors are building spec hom... 04/12/2024

Bend Home Prices Up And Inventory Levels Down Despite the trends for January and February 2024 in which prices seemed to stabilize, the sales price of Bend homes rose unexpectedly in March. The year over year figure shows both median and average Bend home prices were up over 12% and inventory levels were down. When coupled with the steep rise in prices, affordability remains a major problem for potential Bend home buyers. When March 2024 is compared with March 2023 for Bend single family homes on less than an acre, the following trends are noted: Average sales price up 12% to $893,967* Median sales price up 13.2% to $760,000 Average list price up 9.2% to $1,059,212 Median list price up .9% to $797,000 New listings down 13.8% to 175 Homes for sale down 15.2% to 240 Pending sales down 2.6... 04/04/2024

High Mortgage Rates - High Prices Affecting Bend Home SalesFor the 4th week in a row, the thirty year mortgage interest rate has risen which has impacted real estate sales across the country. With these rates now pushing 7%, the buying power of Bend homebuyers has diminished.With this change, few sellers are putting their homes of the market. Why sell a home with a great interest rate when the replacement home will cost so much more to finance? Both Bend home buyers and Bend home sellers are making decisions based on the cost to finance and when mortgage rates rise, often the decision made is to do nothing.Bend Real Estate Inventory Levels Remain LowAlthough there is always a downward seasonal adjustment for Bend home sales in the winter, the number of homes for sale and pending sales i... 03/06/2024

Central Oregon Lifestyle Attractions And The Bend Real Estate MarketCentral Oregon is known for its stunning natural surroundings, outdoor recreational opportunities, and a thriving community. Here are some key points about Bend: Outdoor Activities: Bend is a paradise for outdoor enthusiasts. The city is surrounded by mountains, lakes, and rivers, offering a wide range of activities such as hiking, biking, skiing, snowboarding, fishing, and more. The Deschutes River runs through the city, providing opportunities for water-related activities. Climate: Bend has a semi-arid climate with four distinct seasons. Winters can be cold with snowfall, making it a popular destination for winter sports. Summers are generally warm and dry, perfect for outdoor activities. Economy: The economy in Bend ... 02/15/2024

Bend Home Prices Leveling Off The January 2024 Bend real estate market shows some stabilization. Although the average and median price per square foot are both up, the average and median sales price on sold homes comparing January 2024 to January 2023 show little movement. The issue most Bend home buyers are still dealing with is lack of inventory which provides few choices for people looking to purchase. Although mortgage interest rates have come down from the high rates pushing 8% seen last fall, they are still in the mid sixes which also impact the purchasing power for home buyers. When the January 2024 sales for Bend single family homes on less than an acre are compared with those from January 2023, the following changes can be seen: Average sales price down 1.9% to $842,669* Media... 02/09/2024

Bend Oregon Real Estate Sales Were Limited In 2024 Probably the biggest challenge for Bend Home Sales in 2024 was mortgage interest rates. Mortgage rates started the year at 6.48% and ended the year at 6.62%. During the middle of the year, the mortgage rates rose to 7.79% which greatly limited the buying power for most Bend homebuyers who needed to finance in order to purchase. Home sales in Bend continued, but at a greatly reduced rate than experienced during Covid when mortgage rates under 4% were normal. High mortgage rates also kept many Bend home sellers from listing. The thought for many was why sell and give up a great mortgage rate of less than 4% to exchange to one over 7% on a different home? Many Central Oregon real estate brokers discovered that many listings were limited t... 01/09/2024

Mt Bachelor Village Is One Of Bend's Oldest Resort Communities Envisioned in the early 1970's by Brooks Resources as a resort community to house vacationers wishing to ski at nearby Bachelor Butte (now known as Mt. Bachelor), the successful condominium development of Mt Bachelor Village has grown beyond the 1/5th fractional ownership initially offered to now provide for fully owned units, townhomes and single-family homes with a variety of amenities and views. Its location, within Bend's city limits but just off the road to Mt. Bachelor and the high Cascade Lakes, Mt Bachelor Village has offered full time homes, investment opportunities, and vacation homes to owners and renters alike for well over forty years. It continues to be a venue for retreats, weddings, gatherings and conference... 12/26/2023