Posts from September 1st, 2017
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Bend Oregon Luxury Homes - July 2017 Trends
Bend Luxury Home Sales Trending Up
During the recession of 2008 - 2011, Bend Oregon luxury home sales were few and far between. Desperate people sold stunning, luxury properties through short sales or banks foreclosed on them. New construction was extremely limited and only financed through private lending and the product built was not considered high end. Many luxury homes that did sell sold at a fraction of their true replacement cost and the Bend real estate luxury home market was very weak.
The Bend real estate market has recovered and luxury home sales in Bend are up. There is great confidence with new home builders building million dollar plus spec homes which buyers are purchasing at full listing price. While the overall Bend single family home sales reflect a less than 3 month supply, the $1,000,000 plus market shows a nine month supply, which is considerably lower than the...