Bend Real Estate Sales Are Strong

Spring has arrived in Central Oregon and homes are selling! After a series of months in which Bend home sales had dropped while prices continued to rise, May 2019 has provided a 180 degree turn around. The number of Bend homes for sale jumped 34.8% and the number of homes sold rose 29.9% from April, 2019. After an unusual winter with late heavy snow, overcast skies and heavy rain in April, sellers decided at last that May, with the sun out and longer days, was a great time to list.  When May 2019 is compared with May 2018 for Bend single family homes on less than an acre, the following changes can be noted:

• Homes for sale are down 1.3% to 535
• Homes sold are up 2.2% to 230
• Homes pended are up 11.6% to 269
• The average price per square foot is up 9.6% to $263
• The average days on market are up 6.1% to 104
• The sold/original listing price difference i...

Click Here to Read More...

How High Can Bend Real Estate Prices Go?

The April 2019 sales figures for Bend single family homes on less than an acre are out and the results are dramatic. While new home sales surged in April, following a seasonal trend with 252 pending sales, the numbers of homes available and those closed in April are definitely down. And while prices continue to climb, the average days on market are also up. The following compared April 2018 with April 2019 for Bend single family homes on less than an acre:

• Homes for sale down 13.5% to 397
• Homes sold down 10.2% to 177
• Homes pended down .4% to 252
• Average active price up 6.8% to $694,000
• Average sold price up 12.4% to $552,000
• Average price per sq ft up 8.9% to $258
• Average days on market up 19% to 125
• Sold/original listing price difference percentage down 10.2% to 88
• Months of inventory based on closed sales...

Click Here to Read More...

Bend Oregon Real Estate - What's Up with Bend Luxury Homes?

Bend's high end home market is growing.  There is demand for homes in the million dollar plus category that was unheard of just a few years ago.  The number of Bend luxury home sales is up while inventory levels are down, and with prices continuing to increase, this trend does not appear to be stopping anytime soon.  The following information includes data from the last 3 years with each bar reflecting 12 months.

As you can see, the number of homes sold over a million dollars has trended upwards over the past 3 years. Even those homes priced over $2,000,000 have increasing sales.  And while sales are increasing, inventory levels are dropping.

Click Here to Read More...

Bend Real Estate Sales Down

March 2019 Bend real estate sales followed the trends noted earlier in the year. Although there was a seasonal uptick in March 2019 of  Bend single family residential home real estate activity, new home listings, those in pending status and those sold were significantly down.

• Numbers of homes for sale down 15.1% to 377*
• Numbers of homes sold down 27% to 149
• Numbers of homes pended down 8.6% to 201

Bend Home Prices Up

While actual sales are down, the average price of a Bend single family home continues to rise. Comparing March 2018 with March 2019:

• Average price per square foot on sold homes up 6.3% to $252
• Average active price up 4.9% to $682,000
• Average sold price up 8.9% to $536,000

Click Here to Read More...

Permits Down for New Bend Homes

After many years of growth in new home construction in Bend, the number of permits pulled so far this year for single family homes are significantly down compared with previous years. From a high of 117 in March 2017, February 2019 had the lowest number of new home permits pulled in 4 years with less than 40.* February is typically a busy month for builders obtaining permits to build homes for summer sales.  This decline is significant as it is not following the normal trends.

Why Are Bend Builders Not Pulling Permits?

When a good analysis of Bend home trends is looked at, it becomes obvious that Bend new home construction has slowed. Many builders are sitting on inventory and while prices have continued to rise, sales have s...

Click Here to Read More...