Posts with tag 'bend single family homes'

Bend Home Prices Up With Inventory Levels Down

Central 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 price up 15.9% to $767,405*
• Median sales price up 15.8% to $645,000
• New listings down 30.6% to 159
• Homes for sale down 56.6% to 238
• Pending sales up 46.5% to 372
• Sold homes down 16.2% to 212
• Median days of market up 100% to 8
• Months of supply down 61.5% to 1
• Average price per square foot up 20.8% to $384
• Median price per square foot up 17.3% to $353
• Average percentage of list price received down .9% to 100.6%
• Dollar volume of closed sales down 2.9% to $162,689,776

As can be noted, home sales are down, new listings are down, inventory levels are down and prices are up. There is still a significant demand for Bend single family homes which continues to drive home prices. 

Predictions For Bend Real Estate Sales the Rest of 2021

Despite cooling temperatures as we move toward late fall, Bend home sales are still strong - and we anticipate they will remain this way through the remainder of 2021. Mortgage interest rates are predicted to rise in 2022, but as long as rates stay relatively low, homebuyers are purchasing. We predict more of the same through the rest of 2021.

Bend Single Family Home Sales Trends Changing

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 conti...

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Bend Real Estate Sales Trends Mixed

As 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 down 64.5% to 1.1 months
• Average price per square foot up 32.2% t...

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For Bend Real Estate sales, 3D Virtual Tours have become an increasingly important tool since the coronavirus outbreak last year. More specifically, homebuyers, sellers, and real estate agents have had to deal with new restrictions and grapple with safety concerns when it comes to exposure to both the original strain of Covid-19, and now also with the even more contagious Delta variant.

Recently both Matterport and Redfin conducted a survey of 1000 home buyers and 1000 home sellers to learn about their current concerns in the home buying and

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Redmond, La Pine, Prineville and Sisters All Showing Strong Single Family Home Sales

We 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

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