Bend Home Prices Keep Rising

The July 2019 figures are out and Bend single family home prices continue to go up while closings are down.  However, homes in pending contracts have had a huge increase over the year before.  When July 2019 is compared with July 2018 for Bend single family homes on less than an acre, the following changes can be seen:

• Homes for sale down 6.1% to 604*
• Homes sold down 1.6% to 239
• Homes pended up 28.3% to 263
• The average price per square foot for sold homes up 4% to $261
• The average days on market down 5.3% to 90
• The sold/original listing price difference is unchanged at 98%
• The average active price is up 4.9% to $686,000
• The average sold price is up 9.2% to $544,000
• The months of inventory

Real Estate Trends in Bend, Redmond, Sunriver and Prineville

We focus a lot on the real estate market trends for Bend and Redmond, but Central Oregon also encompasses many other towns and areas, all with their own charm and unique lifestyle. Housing prices and types of homes vary in these towns and it is interesting to see how each community compares with the next. While Bend has seen the bulk of growth over the last 3 years, Redmond was the fastest growing town in Central Oregon in the second quarter 2019 according to the multiple listing service. Sunriver, Central Oregon's most known resort community, has maintained a relatively stable real estate market over the last 3 years, and Prineville, one of the most hard hit towns during the recession, is

Bend Real Estate Market Showing Mixed Results

The June 2019 figures for Bend Oregon real estate trends have been published and the results are mixed. While June had a surge in new listings, the numbers were similar to the year before. And while we are entering our summer peak selling season, in some categories the trends point down.

When June 2019 is compared with June 2018 for Bend single family home sales on less than an acre, the following data are seen:

• Homes listed for sale down .3% from 607 to 605
• Homes sold down 10.9% to 266
• Homes pended down 4.5% to 233
• Average price per square foot up 4.8% to $261
• Average days on market down 5.6% to 89
• Sold to original price difference down 1% to 98%
• Average active price up 4.6% to

Bend Luxury Homes Sales Growing

Bend's high end real estate market has been trending upward for several years. Almost unheard of less than 10 years ago, the sale of million dollar homes in Bend has become common and the construction of million dollar spec homes the norm in several Bend neighborhoods.

From July 2018 through June, 2019, 67 Bend homes priced between $1,000,000 and $1,299,999 have sold, a figure that is up 11.7% over the previous 12 months. For homes priced $1,300,000 to $1,599,999, 29 Bend homes have sold, up 11.5% over the same period a year before. Homes priced between $1,600,000 and $1,999,999, the figure is 13 homes, up 30% and for the very high end, the $2,000,000 or more price point, the figure is 7, which is up 75% over that

Bend Real Estate Sales Are Strong

Spring has arrived in Central Oregon and homes are selling! After a series of months in which Bend home sales had dropped while prices continued to rise, May 2019 has provided a 180 degree turn around. The number of Bend homes for sale jumped 34.8% and the number of homes sold rose 29.9% from April, 2019. After an unusual winter with late heavy snow, overcast skies and heavy rain in April, sellers decided at last that May, with the sun out and longer days, was a great time to list.  When May 2019 is compared with May 2018 for Bend single family homes on less than an acre, the following changes can be noted:

• Homes for sale are down 1.3% to 535
• Homes sold are up 2.2% to 230
• Homes pended are up 11.6% to

How High Can Bend Real Estate Prices Go?

The April 2019 sales figures for Bend single family homes on less than an acre are out and the results are dramatic. While new home sales surged in April, following a seasonal trend with 252 pending sales, the numbers of homes available and those closed in April are definitely down. And while prices continue to climb, the average days on market are also up. The following compared April 2018 with April 2019 for Bend single family homes on less than an acre:

• Homes for sale down 13.5% to 397
• Homes sold down 10.2% to 177
• Homes pended down .4% to 252
• Average active price up 6.8% to $694,000
• Average sold price up 12.4% to $552,000
• Average price per sq ft up 8.9% to $258
• Average days on

Bend Oregon Real Estate - What's Up with Bend Luxury Homes?

Bend's high end home market is growing.  There is demand for homes in the million dollar plus category that was unheard of just a few years ago.  The number of Bend luxury home sales is up while inventory levels are down, and with prices continuing to increase, this trend does not appear to be stopping anytime soon.  The following information includes data from the last 3 years with each bar reflecting 12 months.

As you can see, the number of homes sold over a million dollars has trended upwards over the past 3 years. Even those homes priced over $2,000,000 have increasing sales.  And while sales are increasing, inventory levels are dropping.

How Do Luxury Home Sales Impact

Bend Real Estate Sales Down

March 2019 Bend real estate sales followed the trends noted earlier in the year. Although there was a seasonal uptick in March 2019 of  Bend single family residential home real estate activity, new home listings, those in pending status and those sold were significantly down.

• Numbers of homes for sale down 15.1% to 377*
• Numbers of homes sold down 27% to 149
• Numbers of homes pended down 8.6% to 201

Bend Home Prices Up

While actual sales are down, the average price of a Bend single family home continues to rise. Comparing March 2018 with March 2019:

• Average price per square foot on sold homes up 6.3% to $252
• Average active price up 4.9% to $682,000
• Average sold price up 8.9% to $536,000

Permits Down for New Bend Homes

After many years of growth in new home construction in Bend, the number of permits pulled so far this year for single family homes are significantly down compared with previous years. From a high of 117 in March 2017, February 2019 had the lowest number of new home permits pulled in 4 years with less than 40.* February is typically a busy month for builders obtaining permits to build homes for summer sales.  This decline is significant as it is not following the normal trends.

Why Are Bend Builders Not Pulling Permits?

When a good analysis of Bend home trends is looked at, it becomes obvious that Bend new home construction has slowed. Many builders are sitting on inventory and while prices have

Bend Real Estate Market Changing

February 2019 had the most dramatic change to the Bend Real Estate market that we have seen in many years. Sales dramatically declined while prices increased, although at a reduced rate than we have experienced over the past few years.  It appears that the trends we started to see the second half of 2018 are continuing.

When February 2019 is compared with February 2018, the data for Bend single family residential sales on less than an acre are as follows:

• Numbers for sale down 6.6% to 398
• Numbers sold down 36% to 105
• Numbers pended down 17% to 151
• Average price per square foot up 2.9% to $248
• Average days on market unchanged
• Sold/Original listing price different down 1% to 96%
• Average active