May 2017

Found 5 blog entries for May 2017.

RedmondoregonhomesforsaleAlthough we often focus on Bend for real estate trends, Redmond has also seen tremendous growth over the past 5 years. And while still more affordable than Bend, Redmond's housing prices are also a reflection of the available inventory.

In 2015, Redmond had 4 months of supply of single family homes, all price points, and on less than an acre of land. In 2016, this figure had lowered to 2.9 months and in 2017, we are at 2.3 months of supply.  A healthy and balanced market is considered 6 months of supply.

Directly impacted by the months of inventory is the average sales price. Since 2015, the price of a single family home in Redmond on less than an acre of land has gone from $223,152 to $285,830 - more than 10% increase each year.

The question

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Bend Single Family Homes for Sale

When buyers are searching for Bend single family homes for sale, one of the things they discover quickly is the lack of available inventory. The number of Bend single family homes for sale has been under 3 months of supply for several years, and the number of homes for sale in the lower end is under 2 months. This chart shows the months of supply of Bend homes, breaking the inventory into 5 categories:

Months of Inventory Bend Single Family Homes

Bend Single Family Homes Sold

While the chart above shows the months of inventory, the chart below shows what has actually sold:

Bend SIngle Family Homes Sold

As you can seen, the greatest interest in Bend homes for sale is the $300,000 to $600,000 price point, although the greatest amount of inventory available is in the $1,000,000

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Bend Real EstateBend Real Estate Prices Continue Upward Trajectory

Bend residents who have lived in Central Oregon over the past decade have seen extreme changes in the real estate market. Bend single family home prices escalated during the boom years of 2005-2007 and crashed during the great recession of 2008-2011; the low point for Bend Or real estate was in the winter of 2011. Since this time, Bend housing prices have steadily climbed with roughly 10% gain each year as the market recovered. Today, the prices for Bend homes for sale are back to pre-recession levels with the average asking price for a Bend single family home at $682,000 and the average sold price at $467,000; these figures are 30.9% and 17.6% over the same quarter 2006.*

Bend real estate trends

As prices continue to

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COBA Spring Home and Garden Show

Bend Premier Real Estate at COBA Home Show

If you are planning on attending the Central Oregon Builders Association Spring Home and Garden Show this weekend at the Deschutes County Fairgrounds, stop by and visit us! Our friendly Brokers will be happy to answer questions on any of your Central Oregon real estate needs. Ask about our free search app and take home a stress ball or coffee mug. You will find us in the Bank of the Cascades Center to the right of the entrance next to the Bendistillery booth.

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Bend Oregon Real Estate TrendsBend Oregon Homes for Sale

Homes for sale in Bend continue to increase in price. With the weather finally warming and spring in full bloom, buyers are back and homes are selling. Yesterday, Bend Premier Real Estate Principal Broker Lynnea Miller was interviewed by KTVZ-TV on Bend housing trends. The link following includes portions of the interview:

 Bend Housing Prices

Lack of inventory continues to be our number one issue which is driving our prices. But, for sellers, it is a prime time to list. Bend homes are now closing in on $460,000 on average with the price per square foot over $220,000.* Bend's home prices are back to pre-recession figures, and as long as people continue to move to Central Oregon, we don't foresee prices stabilizing

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