Bend Premier Real Estate Blog

Bend Or Single Family Home Sales Are Slowing

We wrote a blog a few weeks ago in which we noted that it appeared that Bend Oregon single family home sales were slowing when compared with the year before. This blog, "Is the Central Oregon Real Estate Market Slowing Down?"  looked at inventory levels and showed that there was an uptick in the number of single family homes in Bend, Redmond and Sunriver for sale from the same 12 month period the year before.

The September statistics have now been published for Bend home sales and it appears that the slowing trend is continuing. When September 2018 Bend single family home sales on less than an acre are compared with September 2017, the following change can be seen:

• Homes for sale down 5.8% to 596

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Why Are People Moving to Bend - is it the Lifestyle or the Jobs ?

In an article published 10-1-18, thrillist.com has ranked the top 25 American cities for local economic growth. According to WalletHub, the financial advice site, they compared 515 cities of various population sizes using 15 key data points such as working-age population growth, job growth, poverty rate decrease, median housing price growth and building permit growth. According to this analysis, Bend Oregon ranks 4th in the country.

Does Poverty With a View Still Pertain to Bend?

We know Bend is booming, but having a strong economy contributes to a vibrant community such as what Bend has experienced since coming out of the recession. People moved here traditionally for the lifestyle - Bend was often called "poverty with a view" in the past for a reason. People could earn more money in other parts of the country, but moved here to enjoy the recreational opportunities and small town e...

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Numbers of Central Oregon Single Family Homes for Sale Up

One of the key components on the health of a real estate market is the inventory levels of the homes selling. In a balanced market, there are 6 months of supply.  In Central Oregon, there has been a great lack of inventory for several years in most of the cities which has led to a seller's market with rising home values, multiple offers and in some cases, a certain desperation for buyers to find a home.  Full price offers or even offers over asking have been the norm at certain prices for a while.  However, there appears to be a shift happening in much of Central Oregon with the number of single family residential homes available for sale rising.

The following chart shows the las...

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Bend Single Family Home Prices Still Rising

The figures from August, 2018 Bend real estate sales are published and the price of a Bend single family home continues to go up. While the trend upward in the asking price of a Bend home appears to be leveling off, the sold price is still rising with the average price per square foot now at $255.  The following data compares August 2017 sales of Bend single family homes on land under an acre with those from 2018:

• Number of active homes for sale down 6.4% to 619*
• Number of homes sold slightly up .8% to 255
• Number of homes pended up 8.7% to 238
• Months of inventory based on closed sales down 7.7% to 2.4
• Average days on market down 11.8% to 90
• Average price per sq...

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Bend Homes for Sale Vs Sold

Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas.

We are seeing a transition in the Bend real estate market and a slight increase in inventory.  The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:

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