Posts with tag 'bend homes for sale'

Bend Luxury Real Estate Sales Breaking Records

It is hard to believe, but ten years ago million dollar sales in Bend were rare and uncommon. Out of 1679 sales during the preceding 12 months that included February, 2012, only 9 were for more than one million dollars for Bend single family homes on less than an acre. This figure was .5% of total sales

The Bend real estate market has really changed! Out of the 2490 homes that sold during the preceding 12 months that included February, 2022, 433 closed for over $1,000,000, roughly 17% of total sales.  And while many of these sales would be considered "luxury homes," some are properties that just a few years ago were normal middle-class homes; due to extreme demand with little inventory these properties have seen their value increase into t...

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How High Can Bend Home Prices Go?

It seems that every month we are breaking records with Bend single family home sales. Since coming out of the great recession, Bend has experienced high demand for available housing leading to an increase in home prices. But since the Covid-19 pandemic and the resulting "stay at home orders" and recognition that working from home can be a viable option for many Americans, the increase in the number of people wanting to move to Bend has risen beyond that ever seen before. The lack of property for sale has resulted in tremendous price increases, with the median price of a Bend single family home on less than an acre up 67% above what it was in February 2020 when the pandemic began. While builders have tried to keep up with the demand, the price increases in building materials and subcontractor...

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Lack of Supply Among the Biggest Challenges for Bend Real Estate Sales

January 2022 began the New Year with the same Bend housing market trends we experienced in 2021 - little inventory with a lot of demand. Bend Premier Real Estate Brokers are working with many buyers who are often discouraged when the available homes are sold before they can offer or end up in bidding wars. But with persistence, many of these buyers do successfully close on their Bend home and enjoy the many benefits of homeownership. 

Now may be among the very best times to be a Bend home seller. Prices are up, pending sales are up, inventory levels are down, and buyers are paying top dollar for Bend single family homes. Prices reached an all time high in 2021, but they are starting even higher in 2022. We expect Bend homes to continue to experience great demand in 2022 and prices to continue to rise, but perhaps at not as steep a rate as in 2021.

When January 2022 sales for Bend single family homes on less than an acre are compared with those from January 2021, the following changes can be seen:

• Average sales price up 17.4% to $784,756*
• Median sales price up 17.8% to $683,000
• New listings up 3.5% to 146
• Homes for sale down 68% to 113
• Pending sales up 69.9% to 260
• Sold homes down 14.4% to 131
• Median days on market up 125% to 9
• Months of supply down 68.8% to half a month
• Average price per square foot up 18.4% to $392
• Median price per square foot up 19.7% to $364
• Average percentage of list price received down 1.9% to 100.1%
• Dollar volume of sold homes up .5% to $102,803,041

We Need Bend Real Estate Listings!

With home prices up, inventory levels down, Bend home sellers are recognizing the importance of listing now before the typical spring selling season when added competition may impact the sales price. Our Brokers are professionals who know how to price and market a home to best represent it and obtain good offers.

 *Data from Multiple Listing Service of Central Oregon

Lack of Inventory the Most Important Factor Impacting Bend Real Estate Sales in 2021

2021 has come to a close and the Bend housing market has broken records when it comes to volume, price and inventory levels. The huge influx of residents moving to Bend which started with the 2020 Covid-19 pandemic continued in 2021. Bidding wars, multiple offers, and a general lack of inventory drove prices higher than they have ever been. Builders have not been able to keep up with the demand and the supply shortage of building materials has impacted the pace by which new homes can be completed.

When 2021 is compared with 2020, the sale of Bend single family homes on less than an acre show the following trends:

• Average sale price up 26.6% to $774,860*
• Median sales price up 27.7% to $645,000
• New listings up 2.4% to 2692
• Homes f...

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Bend Real Estate Sales Still Strong Fall 2021

Bend homes prices are still rising, despite the seasonal slowdown that is experienced in 4th quarter. Demand is strong, but there is a significant reduction in inventory as is typical in the fall, especially once the holiday season begins. The median home price of a Bend single family home has broken a new record and is now pushing $700,000. More purchases this fall have involved loans as compared with the 2021 summer when cash buyers usually won in a multiple offer scenario. With fewer multiple offers, more buyers with loans are having their offers accepted. If the price of the home works for their budget, first time homeowners are now seeing their offers accepted.

When November of 2021 is compared with November of 2020, the following can be noted for Bend single family...

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