How High Can Bend 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 Real Estate Costs a Lot More Than It Used To

When 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 101.3% to 469
• Sold homes up 7.8% to 250
• Average days on market down 84.4%...

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How High Can Bend 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 Real Estate Costs a Lot More Than It Used To

When 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 101.3% to 469
• Sold homes up 7.8% to 250
• Average days on market down 84.4%...

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Bend Homes Priced Over Million Raising the Average Bend Real Estate Sale

We 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 great demand and buyers will write their offer to meet the needs of the seller to make their offer stand out. Such items...

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What's in the May 2021 Newsletter?

• Bend Home Prices Historically High with Inventory Levels Historically Low
• Want a Great Workout and Great Views?
• Are Interest Rates Expected to Rise Over the Next Year?
• Victorian Cafe'
• Should I Buy Now or Wait?

Bend Home Prices Historically High With Inventory Levels Historically Low

In some way, it feels like we are like a broken record that keeps repeating the same line. Bend home prices are way up and inventory levels are way down. Each month we wonder if we have reached the top (or bottom), but each month we are setting another record - and we don't see the trends changing anytime soon. This is by far the strongest seller's market we have ever seen in Bend with desperate buyers bidding home prices up to levels we have never seen.

When April 2021 is compared with April 2020, Bend single family home sales on less than an acre reflect the following:

• Average sales price up 32.2% to $769,314*
• Median sales price up 41.2% to $651,000
• New listings up 32.6% to 256
• Homes for sale down 81.99% to 119
• Pending sales up 149.7% to 427
• Sold homes up 39.8% to 239
• Median days...

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