Posts with tag 'bend homes'

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

What's in the January 2022 Newsletter?

• Bend Real Estate Sales - 2021 Trends & 2022 Predictions
• Covid Cases Spiking in Deschutes County
• 2022 Paint Colors of the Year
• Top Hikes of 2021
• 2022 Housing Market Forecast

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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What's in the December 2021 Newsletter?

• Bend Real Estate Sales Still Strong
• Tis the Season for Microspikes
• Home is Where the Heart is More Than Ever This Year
• A Happy Tail: Pets and the Homebuying Process
• A Portuguese Experience in Downtown Bend

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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