Bend Premier Real Estate Blog

Cascade Cycling Classic Hits Downtown Bend Saturday

The 38th annual Cascade Cycling Classic is underway right now in beautiful Central Oregon. The CCC is the longest consecutively run elite stage race in the country and has attracted most of North America's top cyclists over the years; Lance Armstrong's won the CCC in 1997. This year is the first time the CCC has the UCI level ranking for the men with the women's race receiving it last year. 

The race consists of 5 stages. The Mackenzie Pass 173 km stage one was completed Wednesday, the Skyliners Time Trial of 22.8 km was completed Thursday and today is the 172.8 km Cascade Lakes Road Race traveling through some of the most beautiful scenery in North America.

Tomorrow evening is the Downtown Bend Criterium which involves 75 minutes for the men and 50 minutes for the women of racing through the streets of downtown Bend...

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Redmond OR Home Sales Show Continued Growth

Redmond home sales remain strong with new real estate contracts, home prices and the number of new homes on the market all trending upward. Redmond has always been a more affordable option for Central Oregon residents to Bend, but its desirability as a great place to live, work, and raise a family has made Redmond the 1st choice for many moving to our area.

Redmond trends are as follows comparing June 2017 with June 2016:

• Homes for sale up 16%

• Homes in pending status up 19%

• Average price per square foot up 12.3%

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Bend Real Estate Trends Mixed

The Bend real estate trends from June reflect a changing market.  Although the inventory levels are finally ticking in the right direction, the 2.4 months of Bend single family home inventory now available are still significantly below a balanced market where 6 months of inventory is considered healthy. Bend residents can see the evidence of new home construction throughout the town and when June, 2016 is compared with June, 2017, the 2.4 months is up 14.2%.  Positive movement, but still not where we need to be.

However, the trends are mixed when you compare actual sales. Comparing June 2016 with June 2017 Bend home sales provide the following data:*

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Inventory Levels of Bend Homes for Sale Remain Very Low

Ever since coming out of the recession, we have written about Bend's lack of housing. Before the recession, Bend was known as the sixth fastest growing city in the United States with a population over 50,000. During the housing boom of the mid 2000s, speculative building occurred all over the city, but we rarely discussed lack of inventory. People who wanted a home could purchase one, although many bought through easy credit which ended up facilitating the housing meltdown of the late 2000s. Once the crash happened, home values fell nearly to half of what they had been.

Bend is back. Home values have escalated to pre-recession prices and are now creeping higher. Bend is once again the 6th fastest growing city in the United States and its population now exceeds 90,000. However, building has not kept up with the demand. As the chart below shows, invento...

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The next time you are at the Redmond Airport, check out the new kiosk in the baggage claim. Bend Premier Real Estate has a prominent presence on this kiosk. We plan to feature our Luxury Collection of beautiful homes in this location, rotating through these listings on a regular basis and exposing these stunning properties to all the visitors coming to and from Central Oregon. Let us know what you think about our display!