Bend Real Estate Blog


5 Reasons Your Neighbor's House is Worth More Than Yours 

Really? Is our Charlotte home worth that much?


It's time to list your home and you've been seeing the sales prices of the homes around you and you're overly excited that your home is going to sell for SO much more than you ever thought it would! Your neighbor's home yours is bound to as well, right?


Not so fast!  I've run into this on more than one occasion each and every week this month and here is my advice as to why your home may not hold the same value as your neighbors' homes:

  1. Updates, updates, updates!  Updates are simply at the top of the list for home buyers these days - time is a factor in everything as we find ourselves running in 100 different directions each day and cannot
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Bend Real Estate TrendsBend Oregon Home Sales Stay Strong

Over the last few years, we have reported that single-family residential home sales in Bend have stayed strong and prices keep rising. February 2018 has been no exception to this trend. Home prices continue to rise and lack of inventory remains a serious issue. In addition, the relative lack of snow in 2018 has kept sales and new listings growing when compared with the record breaking snowfall experienced in 2017. The following data is for single family homes in Bend on land under an acre reflecting February 2017 and February 2018:

  • Homes for sale up 24.4% to 540
  • Homes sold up 31.4% to 201
  • Homes pended up 18.1% to 228
  • Average price per square foot up 7.2% to $237,000
  • Average days on market down 8.5%
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Empire State Building SpireBuilt in 1930, the Empire State Building is one of the most memorable buildings in the world and is an iconic representative of New York City and Manhattan Island. The skyscraper has been the location of famous movies (i.e. King Kong), the office of many businesses and at one time, the tallest building in the world.

The 200 foot spire on the top of the 1050 foot tall building was placed, according to former New York State Governor Al Smith and the construction chairman of the building, to serve as a mooring mast for the docking of dirigibles with the argument that the closest port for these blimps was in Ocean County, NJ at the time.  However, many believe that the reason the spire was really placed was to top the 1046 foot tall Chrysler Building as

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Redmond OR Home Prices Continue to RiseRedmond Oregon

Redmond has historically been a more affordable option for people moving to Central Oregon. Home and land prices in this vibrant town have remained lower than those in Bend, and with the commute between the two communities less than 20 minutes, Redmond has often been a first choice for many relocating to our area.

However, the growth in Central Oregon has pushed single family residential home prices in Redmond higher since coming out of the recession in 2012. In fact, over the past five years, home prices in Redmond have doubled with the average sold price now over $300,000.

When single family residential Redmond home trends are compared between 2016 and 2017, the following statistics can be seen:

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Central Oregon Real Estate Home Prices Trending Up

Those who have lived longer than 5 years in Central Oregon have seen home prices rise at a rapid pace, especially in Bend and Redmond.  The average price for a single family residential home in Bend has risen over $200,000, the price for a Redmond home has more than doubled, Sisters homes are up 40% and Sunriver home prices have risen 22% in the last five years. 

Central Oregon real estate home prices

Our Predictions for Central Or Single Family Homes

The question can be asked, will Central Oregon home prices start to level off?  Have we reached the top? Obviously affordability for locals has been an issue for several years. But for new Central Oregon residents, the price for a Redmond or Bend single family home is extremely

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Bend Luxury Home Sales Trending UpBend Oregon Luxury Homes

Bend home buyers and sellers know that real estate prices have been on the upswing for several years. Bend homes have gained value consistently since 2011, with the average sales price up 95% in the last 7 years.*  However, what about the luxury, over $1,000,000 market? What have the last 2 years shown for high end home demand in Bend?

As expected, home prices are up in the luxury market as well. When the trends from 2016 through 2017 are compared with Bend single family homes over $1,000,000 on less than 2.5 acres are compared, the following changes can be seen:

  • Number of homes for sale up 11.1% to 60
  • Number of homes sold up 54.5% to 85
  • Number of homes pended up 46.7% to 88
  • The average square foot
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Bend OR Builders Cannot Keep Up With the DemandBend Real Estate New Construction

Everyone living in Bend should be aware that a lot of new residential homes are being built. Just drive through town and new subdivisions and new in-fill on what used to be open space are popping up throughout the city. Builders are finding it difficult to keep up with the demand and people working in the building trades are stretched thin with far more work than they can handle. This demand is  leading subcontractors to charge more to keep their employees well paid and to make a good profit, suppliers charging more for their building materials, and home prices for new construction rising as a result.

When comparisons are made between new residential construction over $1,000,000 from 2016 to 2017, the

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Bend Or Real Estate TrendsBend Real Estate Market Shows No Sign of Slowing

The 2017 year end data is out and the Bend real estate market continued its upward trends. Outside of the slowdown experienced during the winter of 2016/2017 where Bend residents were more concerned with ice dams and heavy snowfall than selling or buying property, the data from 2017 mirrors what we have been experiencing since leaving the recession of 2008-2011. Bend home prices keep rising and people keep buying.

The following data compares Bend single family home sales from 2016 to 2017

  • Number of homes for sale up 11.6%
  • Average price per square foot up 9.5%
  • Average active price up 7%
  • Average sold price up 10.2%
  • Months of inventory based on sold sales remains less that 2.5 months
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Home Prices Continue to Rise in Redmond

Redmond Oregon Homes for SaleRedmond Oregon single family home sales continue to show strength as we move toward the end of 2017.  Although we see the normal seasonal reduction in inventory and slow down in new purchase agreements, the increase in Redmond home prices persists and the demand for housing remains robust.

When data from November 2016 is compared with November 2017, the results for Redmond OR single family homes sales are as follows:

  • Homes for sale up 9.8%
  • Homes sold down 15.7%
  • Homes pended down 1.4%
  • Average active price up 1.4%
  • Average sold price up 8.1%
  • Months of inventory based on closed sales up 32.5% to 2.4 months
  • Average price per square foot on sold homes up 11.3%*

New Home Sales Are Strong

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Bend Real Estate Sales Slow As Winter Approaches

Bend Oregon Real Estate Winter

As the days shorten and the weather gets colder as we approach the start of winter and the end of year holiday season, real estate sales in Bend typically slow. The November 2017 trends are no different than what we traditionally see this time of year.  When November 2017 trends for Bend single family home sales are compared with November 2016, the data show as follows:

  • Number of homes for sale is up 8.6%
  • Number of homes sold is down 3%
  • Number of homes pended is down .6%
  • The months of inventory based on closed sales is up 8.8% to 2.5 months

Given the continued demand for Bend single family homes, as expected prices continue to rise comparing November 2016 to November 2017:

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