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 continued to rise, sales have s...

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What's in the BPRE March Newsletter?

• Can Bend Families Afford to Live in Bend?
• How is the Bend Real Estate Market Changing?
• Commercial Real Estate Market Update.
• Important Lessons and Tips to Know.
• Protecting the Equity of Your Home.
• Boosting Curb Appeal can do Wonders for a Sale!
• And much more...

#flipbook#

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 price up 6.2% to $681,000
• Average sold price up 3.1% to $498,000

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Bend Premier Real Estate Announces Two New Brokers

Kacey Taylor

Born and raised in Oregon, Kacey has a deep love for everything that this wild state has to offer. She and her family moved to Bend in 2012 to be closer to all of the things that they love to do in the outdoors. Kacey is a people-person through and through - and she thrives on helping her clients navigate every detail of the most important and exciting purchase of their lives. She loves to build long-lasting relationships, and to play matchmaker between people and place. And if you need an insider tip on anything from best food cart to favorite Nordic trail - she's your go-to!

Kacey has worked with other real estate companies over the years (both boutique and national), but she's truly thrilled to be a part of Bend Premier Real Estate - a pillar in the Bend community!

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Bend Home Sales Showing a Decline in Early 2019

Those of us involved with day to day real estate sales have "felt" a change in the market for several months. Bend home prices which have been rising for the last several years have continued to grow, but sales have been flattening. Buyers which were so ready to purchase have developed a "wait and see" attitude and the homes which were so quick to sell not long ago are taking much longer.

If the sales data for Bend Oregon single family residential homes from January 2019 is compared with January 2018, the following changes can be noted:

• Homes for sale down 4% to 382
• Homes sold down 12.6% to 125
• Homes pended down 27.6% to 144
• The average price per square foot is up 7.5% to $245
• The average days of market is up 5.8% to 127
• The sold/original listing price percentage is do...

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