March 2017

Found 6 blog entries for March 2017.

 

Bend Oregon Luxury HomeBend Oregon Luxury Homes Sales Show Growth

During the recession of 2008-2012, Bend home sales trended toward the low end. Many Bend home buyers in this period were first time home buyers purchasing foreclosed or short sale homes, investors picking up rental properties at value prices, and people moving to the area purchasing Bend homes with cash. The high end luxury market was close to non existent with only one Bend home over $1,000,000 selling in February, 2011.*

Five years later, Bend luxury homes sales have recovered. In the last 3 years, pending sales for homes in Bend listed over $1,000,000 on less than one acre show consistent increasing numbers of homes entering into real estate contracts. The chart below clearly identifies the trend

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Sunriver Oregon Real EstateHome Sales in Sunriver Oregon

The resort community of Sunriver has had significant changes to its real estate market over the past 3 years. Typical home sales in Sunriver follow a pattern of increased interest starting with Spring Break followed by the vast majority of sales during the summer months. Winter is normally a slow time for real estate sales.

Over the past 3 years, Sunriver has seen a renewed interest in people wishing to own property in the area. When data is from 3 years ago is compared with current statistics, the following Sunriver real estate trends can be noted:

  • Inventory levels of Sunriver homes, condos and townhomes for sale  are down 57.6%
  • The amount of listings in pending status is up 300%
  • The amount of inventory
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Bend Oregon spring flowersIs it Now Time to List Your Bend Oregon Home?

After the long, hard winter we experienced in Bend, Oregon this past year, some small signs of spring are at last emerging. We saw these crocuses today breaking through the soil and brightening our dormant yard with their beautiful color. These signs of spring, along with our longer days, make us realize that winter may finally be over; for sellers who were waiting for better weather prior to listing their homes  - now is the time!

According to data from Central Oregon MLS, there are less than 2 months supply of single family residential homes in Bend based on pended properties; this includes all homes at all price points. If the $1,000,000 plus properties are taken out of the data, there are under 1.8

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Redmond Oregon Real EstateHome Sales in Redmond Oregon

Real estate sales continue to be strong in Redmond. Despite our difficult winter, data from the Multiple Listing Service of Oregon show that Redmond home prices continue to rise and that housing demand is high. Comparing February 2016 statistics with 2017, the following can be noted:

  • The average active home price is up 9.5% to $392,000
  • The average sold home price is up 23.9% to $301,000
  • The average price per square foot on sold homes is up 18.3% to $168 - the highest figure in 10 years.

There remains a shortage of available homes with only 1.8 months of inventory based on pended sales, down 36.1% from January 2017.

Redmond OR Real Estate

 

 

 

Redmond has historically been considered a more affordable option for

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Bend Oregon land salesBend Oregon Land and Lot Sales

There has been a steady increase in lot sales and land value within the Bend Oregon real estate market over the last 5 years. Coming out the great recession, where developed lots could be found at less than $30,000 and long term investors where able to pick up foreclosed, ready to build subdivisions for greatly discounted prices, the cost of available lots for a buyer to purchase and build a custom home has grown considerably. According to data from the Multiple Listing Service of Central Oregon, when a comparison is made for the period March of 2012 to February of 2013 with that of the same 12 months in 2016 to 2017, the average active price of a Bend lot less than 1 acre has gone up 52.4% with the average sold price up

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Bend Oregon homes for saleFebruary, 2017 statistics have just been published, and it looks like the snow we had during January/February definitely impacted Bend Real Estate. When compared with February 2016, data for Bend single family homes on an acre or less is as follows:

  • Number of homes for sale down 13.8%
  • Number of homes sold down 1.5%
  • Number of homes which entered into contract down 21.4%
  • The average sales price is up 3.5% to $620,000
  • The average sold price is up 17% to $441,000
  • The average price per square foot is up 13.1% to $224,000, the highest figure in 5 years.
  • There are 2 months of inventory based on pended sales**

Bend Real Estate Trends

Our common theme over the past few years continues - lack of inventory. During the heavy snow, it was very difficult to

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