Lack of Inventory Impacting Bend Luxury Home Sales

2020 was a year that will be remembered in the history books. In January and February 2020, real estate sales were great across the country with low interest rates leading the way enabling buyers to afford more than they could in the past. Low inventory levels were making sellers realize that listing in the winter could be a good decision and Bend Oregon real estate sales were breaking records.  Then the Covid-19 pandemic hit and the subsequent recession and work-from-home orders made many believe Central Oregon real estate sales would drastically drop. However, after the initial shock, Bend home sales came roaring back when the pandemic made people realize that if they were to work from home, home could be where they really wanted to live as long as a good internet connection was available.  Cities like Bend became the destination of many across the country as people left high density, urban areas and moved to smaller...

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Redmond OR Real Estate Trends Reflect Great Interest

Redmond, Oregon has often been thought as a more affordable option to Bend. And when we represent buyers looking to settle in Central Oregon, Redmond often becomes their choice when they discover what they can afford to purchase there versus what they can afford in Bend. And Redmond is growing with over 500 new construction homes either sold, pending or active in MLS over the past 12 months.* 

When Redmond single family home sales on less than an acre from 2020 are compared with those from 2019, the following can be noted:

• Average sales price up 11.99% to $390,355

• Median sales price up 12.1% to $359,900

• New listings up 10.7% to 1266

• Homes for sale down 13% to 309

• Pending sales up 35.1% t...

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Our never ending food journey in Central Oregon has brought us to a little food truck in one of Bend's newest food truck lots - Crosscut Warming Hut No. 5. This charming location is modeled after the warming huts in the Deschutes National Forest that many locals and tourists alike snow shoe, ski, snow mobile, and maybe even dog sled to during the winter months. We felt the atmosphere was warm and inviting and we cannot wait to sit inside by the large fireplace when COVID allows again. However, despite not being able to use the indoor space, they had many tables set up outside with appropriate distancing, various warming options, and three food trucks. On this food adventure, we tried Abe Capanna's Detroit Pan Pizza + Italian and they did not disappoint us.

With a variety of pizza opti...

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What's in the January 2021 Newsletter?

• Bend Real Estate Trends - 2020 Trends and 2021 Predictions

• Winter Hike to Chush Falls

• Why Not Wait Until Spring to Make a Move?

• A Bite...A Drink...And a Wonderful Fire

2020 Had Unexpected Results for Bend Real Estate Sales

Who would have thought when 2020 began that we would be hit with a world wide pandemic, recession, work from home orders, and a Bend real estate market that was unprecedented in its volume of sales, increase in home prices and lack of inventory.

When 2020 is compared with 2019, the following reflects the sales of Bend Oregon single family homes on less than an acre:

• Average home price up 15% to $611,764*
• Median home price up 11.6% to $502,000
• New listings down 3% to 2623
• Number of homes for sale down 32% to 552
• Pending sales up 21.2% to 2838
• Sold homes up 10.9% to 2596
• Median days on market down 52.2% to 11
• Months of supply down 35.7% to 2.7 
• Average price per square foot up 10.2% to $291
• Median price per square foot up 10.3% to $268
• Average percentage of list price received up 1% to 99.9%

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