Bend Oregon Inventory Levels Down and Prices UpCentral Oregon is now in the fall season and typically during fall, Bend real estate sales drop. However, Bend single family home sales in October 2020 were anything but typical with sales breaking historic records. Speed forward to October 2021. While lack of inventory is still impacting prices, compared with the frantic fall sales of 2020, home sales in October 2021 seem more measured with offers often undergoing counter offers and negotiations on home repairs back with most transactions. This is a win for Bend homebuyers and for sellers, a strong sellers' market makes it a great time to list.When October 2021 is compared with October 2020 for Bend single family homes on less than an acre, the following changes can be seen: Average sales ... 11/08/2021

Redmond Oregon's First Three Quarters 2021 Reflect Strong Home SalesWe haven't looked exclusively at Redmond Oregon single family home sales for six months.  We know that home sales have been strong throughout Central Oregon with prices up and inventory levels down. But as a community without a lot of single family luxury homes, Redmond attracts a great number of people for whom Bend has become unaffordable.  Although a smaller community to Bend, Redmond has also had prodigious growth over the past decade.  The Covid lockdowns and work from home orders have also impacted Redmond with more people moving there than available inventory creating bidding wars and pushing home prices up. When we compare the first 3 quarters of 2021 with 2020 for Redmond single family home sales on less than a... 10/20/2021

Are Bend Oregon Real Estate Sales Returning to Normal?Are we getting back to a normal, seasonal adjustment to Bend real estate sales? Typically Bend single family home sales drop off in the fall once children start back to school and regular fall activities resume.  Bend's usual homebuyer in the fall includes retirees, the second home buyer and investors.  However, Bend home sales fall of 2020 did not drop off with homebuyers snapping up available property at amazing levels through the end of October. Sales remained above normal even through the holidays.As we reported in an earlier blog this year, Bend home sales started shifting from the frantic buying seen over the past 12 months to a more normal level in July, 2021 and this trend has continued through September. Although well priced... 10/08/2021

Experts Predict a Changing Bend Real Estate Market It is a bit of a puzzle to figure out how the Bend Oregon real estate market will wrap up the year.  Experts are really struggling right now when it comes to forecasting where our market is headed in terms of home prices and interest rates.  As put by CNBC, "Fall is usually the start of the slower season for the housing market, but nothing is usual in today's pandemic-driven housing market." 2019 was an excellent real estate year across the country, but the 2020 market was truly unique when the pandemic initially tanked Bend real estate sales and then on the rebound, sales were escalated beyond what had ever been seen.  Work from home orders provided an opportunity for homeowners to rethink where they lived. This resulted in locations ... 10/06/2021

After a month of terrible, hazardous air due to smoke from several forest fires settling in the Bend Oregon area, on Saturday, 9-11-21, Central Oregonians were thrilled to experience clean air as the bad air dissipated and the normal sparkling blue skies of September returned. We had planned on hiking Green Lakes on 9-11 as part of the series of scheduled hikes we had set up in April due to the newly implemented 2021 Wilderness permit system.  However, we were ready to cancel if the air quality was as it had been the Saturday before - extremely hazardous with limited visibility and health recommendations to stay indoors. As we drove up Century Drive towards the Green Lakes trailhead, the remaining smoke in the area was evident until we passed Widgi Creek and all of a sudden, the skies w... 09/14/2021

Bend Oregon Real Estate Trends MixedAs we move into Fall, Bend home sales typically slow as those who need to move prior to school starting have already purchased and the normal slight uptick we see in September and October with retirees and second home buyers has not yet begun. In 2021, August single family home sales on less than an acre for Bend reflected a mixed market with prices and new sales up, but closed sales and new homes for sale down. When August 2021 home sales are compared with August 2020, the following changes are seen: Average sales price up 18.7% to $776,735* Median sales price up 19.8% to $635,063 New listings up 5.8% to 273 Homes for sale down 56.1% to 276 Pending sales up 41.3% to 431 Sold homes down 23.7% to 232 Median days on market down 40% to 6 Months of supply... 09/09/2021

There Has Been Strong Demand for Central Oregon Homes in All CommunitiesWe have been focusing a lot on Bend real estate trends over the past year, but it is important to look at what has been happening in other cities in Central Oregon. We often look upon Redmond, La Pine and Prineville as wonderful towns in which home prices are more affordable and can be great options for buyers for whom Bend is too expensive. Sisters' home prices have been more comparable to those in Bend, but its unique lifestyle, size and location closer to the Willamette Valley make it a small town that may be a destination location for very specific buyers.The real estate trends for Redmond, La Pine, Prineville and Sisters follow similar patterns to those for Bend, but at different values. The chart below outline... 08/20/2021

Buyers and Sellers Have Different IdeasAfter months of seeing record breaking prices where multiple offers, bidding wars, and buyer panic was the norm, we are finally seeing this historic balance between buyers and sellers start to reverse both nationally and in our Bend Real Estate market. The major reason for this… Buyers have simply had enough! Although those saying it’s a good time to sell reached another record high according to a recent Fannie Mae survey, home sellers saying it’s a good time to buy also reached an all-time low. We are certainly seeing this trend locally as well with an end to the recent “panic” buying and even a lot of “price improvements” as buyers are no longer willing to pay thousands or even tens of thousands of dollars over asking price.Souring buyer sentimen... 08/12/2021

Bend OR Real Estate Trends Starting to ShiftAsk most Central Oregon Brokers what happened with July 2021 real estate sales, and they will tell you that they saw a change to the market during the month. Although prices were up considerably over those from a year ago, compared with June, 2021, prices actually were down on average.  A good number of price reductions were seen on a daily basis and the pace and number of multiple offers on listings were dramatically down. Compared with a year ago, the trends we have seen over the past year remained consistent, but not at the extreme levels experienced during the Covid lockdowns. Some offers on properties are now experiencing counter offers and the days on market are lengthening.  It remains to be seen whether or not these trends will continu... 08/11/2021

We have lived in Bend Oregon since 1985 and have hiked to Tumalo Falls and beyond many times. This lovely waterfall, located not far from Bend's westside, also is in the Bend Municipal Watershed where the majority of Bend's water comes from. Most tourists hike the 1/4 mile from the parking lot to the view point at the top the falls. But for those who are willing to continue hiking past Tumalo Falls on the trail toward Happy Valley, the rewards of many additional waterfalls are well worth the effort.On July 31, 2021, we hiked the alternate route to Happy Valley, traveling up North Fork Trail #24, climbing 1300 feet to the Junction of trails 370 and 4601 and from there to Happy Valley. Happy Valley has changed a lot over the years we have hiked there.  What used to be a remote location ha... 08/05/2021

To reach Camp Lake, part of the Chambers Lakes in the Three Sisters Wilderness, hikers starting at the Pole Creek Trailhead have to trek trough 4 miles of dead trees, the result of 2012's Pole Creek Fire. We did this hike July 24, 2021 and it was a warm day. Despite the heat and the dry conditions, we saw some interesting things along the way, among them what we believe was a young Red Tailed Hawk sitting in one of the burned trees as it scouted the area for rodents. We also had fun crossing the North Fork of Whychus Creek as it flows out of Diller Glacier on Middle Sister. The remaining 3 mile trek to Camp Lake is in alpine wooded areas with fabulous views of Middle and North Sister. Just before reaching Camp Lake, the views open and South Sister becomes the main mountain visible, towe... 07/30/2021

Bend OR Luxury Home Sales Have Spiked in 2020 When we think of luxury homes in Bend, we have a vision of a grand property with stunning mountain or river views, lots of elbow room, and fabulous amenities. Easy location to access the Bend lifestyle, which includes proximity to downtown, the mountains, the river, and the Old Mill also checks a lot of homebuyer's luxury wish lists. Having an up-to-date architectural design and interior features are also important to many who are making Bend their home. Yet with so many people moving to Bend over the past year and with inventory supply not keeping up with demand, homes that are not considered luxury have pushed the million dollar market into never before seen figures. The chart below outlines the last ten years of million dollar home sales ... 07/28/2021

Bend's Market Starting to Show Positive Moves for Homebuyers To say Bend has been in a seller’s market for some time now would be an understatement. There has been so much demand in our local market that Bend single family home prices are up roughly 40% from a year ago. Much of this is spurred by this new “Zoom” generation where, thanks to the pandemic, people are realizing they don’t have to live and work in the metro areas. Instead, they can live where they want and work from home and meet with people with teleconferencing software like Zoom. However, amidst what has seemed like an impossible situation in Bend for home buyers who have missed out writing offers on numerous homes… and still not getting any offer accepted… there are a couple signs of hope. The supply of homes in Bend is ... 07/22/2021

Our First Experience With New Hiking Permits-Green Lakes to Golden Lake The Green Lakes trail, off Century Drive in the Central Oregon Cascades, has historically been one of the most popular hikes in Oregon.  It has been used by families, trail runners, day hikers and backpackers for years as a beautiful and fairly easy hike to accomplish with the 4.5 miles and 1500 feet of gradual elevation change pretty doable for most. Over the years, we have hiked to Green Lakes many times, usually traveling on the east shore to the northern most lake, but enjoying the views and wildflowers and waterfalls of Fall Creek along the way. We have seen a huge increase of hikers traveling to Green Lakes over the years, but 2021 is the first year access to Green Lakes Trail is subject to the Central Oregon ... 07/19/2021

Bend Real Estate Prices Escalated During Covid We typically look at Bend real estate trends based on comparisons each month - seeing what the data shows the same month a year previously.  This has resulted in some startling information, especially when trends over the past year are reviewed. The Covid pandemic impacted the Bend Real Estate market in ways we never anticipated when the initial stay at home orders were given. However, to get a full idea on what has happened to Bend home prices, it is often very helpful to look at a longer timeline.  Ten years ago Bend was just starting to turn around from the Great Recession in which poor lending practices led to the mortgage melt down. Real estate brokerages' businesses consisted of working with short sales and foreclosures. It was a ver... 07/16/2021

How High Can Bend Oregon Home Prices Go?The sales figures for June, 2021 have been published and Bend home prices continue to rise as demand is still outpacing supply. However, there appears to be a slight softening of the market as we enter July with extreme heat and the normal real estate trends connected with graduation and vacations coming back as the state moves out of Covid restrictions. Whether or not these trends continue have yet to be determined.Bend OR Real Estate Costs a Lot More Than It Used ToWhen comparing June 2020 Bend single family home sales on less than an acre to June 2021, the following changes can be seen: Average sales price up 40.3% to $842,157 Median sales price up 38.5% to $640,000 New listings up 19.1% to 299 Homes for sale down 75.9% to 181 Pending sales up ... 07/08/2021

Bend Oregon Home Prices Continue to Rise The May 2021 Bend real estate single family home sales reflect a continued strong seller's market with home prices significantly up over the year before and lack of inventory impacting buyers' opportunities. Homes are often selling over asking price and bidding wars remain a challenging part of the home buying process. In some cases, buyers are losing out on multiple offers many times before finally obtaining an acceptance on an offer. However, if buyers can be flexible on location and condition, persistence is paying off for Bend home buyers. The following list reflects the changes from May 2020 to May 2021 for Bend single family home sales on less than an acre: Average sales price up 30.2% to $715,922* Median sales price up 40.5% to $628,000 A... 06/15/2021

Bend High End Home Sales on the RiseWe have reported how Bend Oregon home prices have risen over the past year, but we haven't looked exclusively at the trends for Bend Luxury homes. The demand for Bend's high end homes has escalated over the past year with the number of closed sales up over 100% in all the price categories we follow.* For homes over $2,000,000, the price per square foot is now over $600.  The months of supply for million dollar Bend homes is roughly four, a seller's market, and the median days on market is 11. Luxury homes listings are receiving their asking price on average 99.9% of the time. Multiple offers and bidding wars are normal for many Bend luxury homes when they hit the MLS hot sheet. If a million dollar Bend listing is truly a luxury home, we are seeing gre... 05/25/2021

Having lived in Central Oregon for over 35 years, climbing Paulina Peak was on our bucket list of never done hikes. Last Saturday, May 14, 2021, we checked that hike off the list. We had anticipated that Newberry Crater National Volcanic Monument would be closed still as it is every winter, but were pleased to find that the unmanned gate to the monument was open and boaters were already enjoying outings on Paulina Lake and East Lake.  We had planned on a 14 mile hike from the gate, but instead were able to drive to Paulina Lake Campground and park there before crossing the street to the gated road to Paulina Peak. This gravel road is normally open for cars to drive to the peak in the summer, but instead we hiked it to the top, avoiding the actual trail since we believed there would be a... 05/17/2021

Great Workout and Great Views Black Butte is an iconic landmark just outside Sisters Oregon and over the years has also been a fire lookout. Today it is a terrific hike climbing 1600 feet in just under 2 miles. When hiked Black Butte on May 8, 2021, the weather was cloudy and cool, but the trail was free from snow until just before the top of the butte. To access the trail head, travel west on Highway 22 five miles past Sisters until you reach the Indian Ford Campground exit (milepost 95). Travel on paved Forest Road 11 until you reach unpaved Forest Road 1110. Travel on 1110 just under six miles to the trailhead (the last mile is quite narrow and rough).  The trail head requires a forest pass and the parking area can fill up early.  The path to the top of the Butte is well maintained a... 05/11/2021