Bend Luxury Home Sales Trending Up
Bend home buyers and sellers know that real estate prices have been on the upswing for several years. Bend homes have gained value consistently since 2011, with the average sales price up 95% in the last 7 years.* However, what about the luxury, over $1,000,000 market? What have the last 2 years shown for high end home demand in Bend?
As expected, home prices are up in the luxury market as well. When the trends from 2016 through 2017 are compared with Bend single family homes over $1,000,000 on less than 2.5 acres are compared, the following changes can be seen:
- Number of homes for sale up 11.1% to 60
- Number of homes sold up 54.5% to 85
- Number of homes pended up 46.7% to 88
- The average square foot price is up 4.6% to $326.68
- The months of inventory based on closed sales is down 17.2% to 12
- The sold/original listing price difference is up 3.3% to 95%
- The average active price is up 8.5% to $1,614,000
- The average sold price is up 2.7% to $1,339,000*
Bend OR Luxury Homes Demand Expected to Remain High
The way Bend home sales have trended year to date, we don't expected dramatic changes to the Bend luxury home market in 2018. Spec builders are feeling confident and are building in the over $1,000,000 price point and buyers are purchasing these homes. Baring a dramatic national economic slow down, we predict the Bend Oregon Luxury home market to remain strong in 2018.
*Data from Central Oregon MLS published January 2018
Leave a Comment
The content relating to real estate for sale on this website comes in part from the MLS of Central Oregon. Real Estate listings held by Brokerages other than Bend Premier Real Estate are marked with the Reciprocity/IDX logo, and detailed information about these properties includes the name of the listing Brokerage. © MLS of Central Oregon (MLSCO).
This content last updated on March 30th, 2020 at 2:14am PDT. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
All content displayed on this website is restricted to personal, non-commercial use, and only for ascertaining information regarding real property for sale. The consumer will not copy, retransmit nor redistribute any of the content from this website. The consumer is reminded that all listing content provided by automatic transmission by MLSCO is © MLS of Central Oregon (MLSCO).