Posts from February 2017
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21
Bend Oregon Real Estate | January 2017 Trends
Bend Home Sales Continue to be Strong
It is with great interest that we reviewed Bend real estate data from January, 2017. This past January has seen some of the most snow on record for Bend, with many school days canceled, roof ice dams common and streets piled with snow which made showing property very difficult. Despite these problems, January 2017 single family residential home sales in Bend under 1 acre remained strong with 4.2% more properties in pending status in January 2017 than were during January 2016. Inventory levels were 19.1% less and 19.8% fewer properties closed, but of the properties available, more entered into contract during our difficult winter weather in 2017 than did in our more temperate weather January 2016.
Bend Home Prices Are Up
Home prices continue to climb with the average price per square foot of January Bend home sales up 4% to $207 per sq...
20
Redmond Oregon Real Estate | 2015-2017 Trends
Central Oregon is known for its largest city - Bend - and we focus a lot of our efforts in watching real estate trends for Bend. However, the nearby communities to Bend are also important to our clients and we often represent both buyers and sellers in Redmond, Oregon which has also grown considerably over the past 10 years. Although typically a more affordable option than Bend, Redmond single family residential real estate trends have followed Bend over the past two years with lack of inventory and escalating prices. The following data is from Central Oregon MLS through January, 2017:
- Average active price 2015 - $284,000 2017 - $370,000 Up 30.3%
- Average sold price 2015 - $221,000 ...
12
Madras Oregon Solar Eclipse Coming August 21, 2017
If you haven't heard, a complete solar eclipse will occur this coming August. This will be the first time since 1918 that a complete eclipse will occur in America and the central location for this event will be Madras, Oregon. During the eclipse, Madras will be in complete darkness for 2 minutes at approximately 10:19 am. The eclipse should enter Oregon and exit through South Carolina, but most of the continental United States should experience at least a partial viewing. To experience the total darkness, however, viewers need to be within the 67 mile band of the shadow.
Hotels are already fully booked in the small Central Oregon town of Madras and many events connected with the eclipse are already scheduled. Madras, due to its location for the band of shadow, clear skies, and high desert location, has been identified as among the best places in America to view this once in a lifetime occurrence. It should be quite a show!
1
Bend Oregon Real Estate | 2016 Lot Sales
Bend Oregon 2016 Lot Sales Data Show Varied Message
Custom lot sales remain steady in Bend. When lots sold in Bend during 2016 are compared with 2015, the average active asking price is up 5% to $252,000 on all lots an acre or less and the average sold price is up 11.7% to $219,000. The lack of inventory does not appear to be an issue, as there were 6.8% more lots made available for sale in 2016 than in 2015, but 9.7% fewer sold and 14% fewer were pending at the end of 2016 than at the end of 2015. *
Bend Lots Inventory
There does not appear to be a lack of available custom lots in Bend right now. Multiple Listing Service data for 2016 show there were 15.2 months of inventory based on closed sales, which is an increase of 18.7% over 2015.* What appears to be an issue, however, is affordability. Most developed lots in Bend are owned by a handful...