Bend Real Estate Blog

Redmond Real Estate Values Have Been Discovered!

Redmond OregonThe word is out and Redmond Oregon has been found to be a great town where people want to live. Often thought of as an affordable option to Bend, Redmond residents have tremendous pride in their town and enjoy the lifestyle of this wonderful Central Oregon community.

The August 2018 Redmond OR real estate statistics have been published and the amount of increase in the sales figures is significant. The following data compares August 2018 single family residential home sales on less than an acre with that from August 2017:

  • The numbers of homes for sale up 9% to 242*
  • The numbers of homes sold up 12.4% to 100
  • The numbers of homes pended up 23.9% to 109
  • The average price per square foot up
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Bend Single Family Home Prices Still Rising

Bend Home Price Trends

The figures from August, 2018 Bend real estate sales are published and the price of a Bend single family home continues to go up. While the trend upward in the asking price of a Bend home appears to be leveling off, the sold price is still rising with the average price per square foot now at $255.  The following data compares August 2017 sales of Bend single family homes on land under an acre with those from 2018:

  • Number of active homes for sale down 6.4% to 619*
  • Number of homes sold slightly up .8% to 255
  • Number of homes pended up 8.7% to 238
  • Months of inventory based on closed sales down 7.7% to 2.4
  • Average days on market down 11.8% to 90
  • Average price per square foot up 5.8% to
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Bend Homes for Sale Vs SoldBend Or Real Estate

 

Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas.

We are seeing a transition in the Bend real estate market and a slight increase in inventory.  The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:

Bend Oregon Real Estate Trends

 Bend Oregon Real Estate Trends

Bend

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Bend Premier Real Estate Bend OktoberfestBend Oktoberfest September 21-22

One of Bend's most unique fall festivals is Bend Oktoberfest celebrated in the middle of September. Besides being the main fundraiser for Downtown Bend, Bend Oktoberfest offers "great beer, delicious food, silly games and feats of strength."  Starting Friday, September 21 at 3:00 pm, the festival will include the Stein Hold Competition, the Chicken Hat Hunt, the Bend Beer Choir, the Tricycle Races and the most popular event - the Weiner Dog Race. There will be something for every Central Oregonian to enjoy!

Bend Premier Real Estate is pleased to be the Title Sponsor for Bend Oktoberfest this year. Having our main office in Downtown Bend, it is a perfect fit for us as we support fully the fundraising efforts for the

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Bend's Luxury Home Sales Trending Up

Bend Oregon Real EstateAs the American economy continues to improve and citizens have more confidence and money to spend on housing, the value of real estate has grown across the country.  Bend is no exception. Bend's average home price has grown by roughly 10% per year since coming out of the great recession, greatly due to the demand on housing coming from new residents moving to Central Oregon in large numbers. For many of these new transplants, the real estate market in their original city is greatly inflated and home values way beyond those of Bend. When they sell, they can often pocket a large amount of cash from the equity in their home. This in turn has driven up housing costs within the city as these new Bend residents can afford

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Are Bend Oregon Home Sales Leveling Off?

Bend Oregon Real Estate

The July 2018 figures are out and there has been a change in the sales trends for Bend single family homes. Since coming out of the great recession, home sales in Bend have been strong with pended and sold trends consistently higher than those from the year before.  While the average price per square foot continues to rise, the actual numbers of homes sold and pended are down.  When July 2018 is compared with July 2017, the following data can be noted for Bend single family homes on less than an acre:

  • Homes for sale down 2.9% to 643
  • Homes sold down 6% to 233
  • Homes pended down 4.3% to 222
  • Average active price up .6% to $654,000
  • Average sold price up 5.5% to $502,000
  • Months of inventory
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Bend Residents Float the Deschutes River

Bend Oregon Float the Deschutes RiverWhen the summer temperatures soar, Bend residents relax in the water. Whether it is driving up to the Cascade Lakes and enjoying windsurfing at Elk Lake, paddling in a kayak on Todd Lake or water skiing and house boating on Lake Billy Chinook, Central Oregonians enjoy the water during the summer months. One of the recent additions to the water recreational opportunities in Bend is floating the Deschutes River. Unheard of 10 years ago, during warm summer days thousands of people enjoy floating through Bend's Old Mill District from Farewell Bend Park, past the surfers at the Whitewater Park and ending up at Drake Park at Mirror Pond. 

Almost as fun as floating the river is sitting on the deck of one of the

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Balloons Over Bend is a Fabulous Bend Oregon Festival

Balloons Over Bend

There are few more stunning sights than watching beautiful hot air balloons floating into the sky with the backdrop of the Central Oregon Cascades at sunrise. Starting this Friday, the annual Balloons Over Bend festival will run through Sunday offering exciting sunrise launches of the balloons, the Night Glow event Friday evening many fun activities for the whole family on Saturday. The schedule includes the following:

Friday July 27, 2018

  • Balloon Launch at Sunrise at RE Jewell Elementary School
  • Night Glow begins at 5pm at Riverbend Park

Saturday July 28, 2018

  • Balloon Launch at Sunrise at RE Jewell Elementary School
  • Children’s Festival from 10am-4pm at the Deschutes
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Bend OR Single Family Home Prices Reach New Heights

Bend Home Prices Up

The price of a Bend Single family home has grown to a level never seen before. The number of homes sold under $500,000 has significantly lessened over the last 3 years while those over $1,000,000 have tremendously grown; between 2017 and 2018, the number of sold Bend homes on less than an acre over $1,000,000 have gone up 88.5%. While the overall number of Bend homes sold have not grown that much, the change between the lower and upper end in price is great and those Bend residents who have lived in the community more than just a few years can be amazed at the selling prices of Bend Homes.

 

Bend Oregon Real Estate Trends

Bend Single Family Home Inventory Levels Remain Low

While Bend home prices are on the uptick,

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