NorthWest Crossing is one of Bend's Most Popular Neighborhoods

Originally developed as the "affordable" option to most of Brooks Resources' subdivisions in Bend, NorthWest Crossing quickly became one of the the most popular neighborhoods within the city, attracting many California transplants as well as locals to the healthy lifestyle characterized by the community. The initial style of homes - mostly craftsman bungalows - has evolved over the years with later phases built in the more modern design now desired by many. However, the resale value of the original craftsman homes has increased dramatically and the appeal of the neighborhood has remained among Bend's most favored.

What are the Market Trends for NorthWest Crossing Homes?

NorthWest Crossing experienced the same market trends most of Bend had during the past three years with Covid creating a huge spike in demand for homes, leading to multiple offers and rising prices. Although home prices have le...

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What's Up with Real Estate Trends in Sisters, La Pine, Madras and Prineville?

We track on a monthly basis the real estate single family home sales trends for Bend, and on a quarterly basis those of Redmond. However, there are four other cities in Central Oregon which are important markets to our home buyers and sellers. The small city of Sisters typically has had higher prices than the other Central Oregon municipalities, but the access to the Cascades and other recreational opportunities has been a draw for those who like its quaint, western theme.  For many for whom Bend is too expensive, wonderful options are available in La Pine, Madras and Prineville. 

For the past three years, all three towns have followed the same market trends for their single family home sales as we have seen in both Bend and Redmond.  Lack of inventory with high demand drove home prices up through 2021 into mid 2022, at which time the sharp increase in mortgage interest rates led to a...

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What's in the August 2023 Bend Premier Real Estate Newsletter?

• Bend Home Sales Average Over $1,000,000 in July
• Mt. Hood's Clear Lake Hike Worth the Trip
• Four Ways You Can Use Your Home's Equity
• There's Only Half the Inventory of a Normal Market
• Housing Market Forecast

Bend Homes Sales Price Over Million Dollars

We never thought this would happen, but the average Bend single family home sold for over a million dollars in July, 2023. Despite mortgage interest rates hovering around 7%, high end Bend homes are selling. When demand exceeds supply, home prices rise. When mortgage rates jumped from 3.5% to 7% in the space of a few months, there was a drop in home sales. However, it appears that home buyers have become used to higher rates, and there are still a large number of Bend home buyers who are purchasing with cash. Lack of inventory continues to be a big problem and lack of affordability for Bend first time homeowners has pushed many to alternative cities.

When figures for Bend single family home sales are compared between July 2023 and July 2022, the following changes can be noted:

• Average sales price is up 8.8% to $1,012,215*
• Median sales price up 4.2% to $797,450
• New listings down 28.6% to...

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Bend High End Home Sales Reflect a Changing Market

It has been awhile since we last reported on Bend luxury home sales. We pulled a report showing year to date activity over the past three years. While Bend home prices in general are back to a small upward trajectory year over year, the numbers of sales are significantly down, as they are in all price points in most of the markets in Central Oregon and across the country.  Higher interest rates have changed the buying power of would-be home purchasers, even in the high end, and have also kept many would-be sellers off market. Why sell when the mortgage interest rate many homeowners have is so good? A replacement home, while potentially being better for the current lifestyle of a home seller, may cost more on a monthly basis with the higher interest rate with which they may need to purchase.

When the first six months of high end Bend home sales are compared year over year between 2022 and 2023, the following change...

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