Bend Premier Real Estate Brokers

Bend Premier Real Estate had a great showing at Amerititle's 2017 Bocce Ball Tournament held at the Old Back Nine golf course in Bend, Oregon. BPRE was represented by two teams, and lots of fun was had by all. Although neither team won, over $7000 was raised for local charities. Congratulations to Katharine Miller, Danielle Gates, Emily Reeves, Carrie DiTullio, Myra Girod, Jack Zika and Lisa Wettstein for their participation.

Bend Oregon Home Sales Mixed

The August 2017 Central Oregon real estate data has been published and the sales for Bend single family homes continue to reflect a similar pattern to what we have viewed this summer. Comparing 2017 month to month, sales are flat; comparing data from the same month 2016, figures are mixed.

The August 2017 sales for Bend single family homes on an acre or less show the following trends when compared with August 2016:

• 8.5% more homes are on the market
• 6.9% fewer homes sold
• 10.8% more homes entered into contract
• The average price per square foot is up 14.2%
• The average active price of a home is up 5.4%
• The average sold price is up 18.6%
• The months of inventory are up 17.2%*

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Bend's Air Quality Hazardous

The Sunday issue of The Bulletin, Bend's local newspaper, contained an article on the 2017 Oregon fire season. According to the article, we are on track to at least equal the amount of acres burned in 2015 when over 600,000 acres of Oregon land caught fire. Through last Tuesday, August 29, 58 fires have burned close to 460,000 acres throughout the state.

In Central Oregon, the impact of the fires has resulted in almost daily hazy sky and sometimes dangerous air quality. This morning, checking the USA Air Pollution Quality Index, Bend's index was almost 400 which is considered extremely hazardous.

Sunday evening we traveled up Cascade Lakes Highway to Sparks Lake. Driving on the road, the smoke became progressively thicker the more we entered the mountains. Driving past Mt. Bachelor, the mountain was invisible behind a thick layer of smoke and even the far end of the parking lot was hard to see. When we reached Sparks Lake, the smoke was extremely thick. We parked in the boat launch parking lot with no other vehicles around (Labor Day weekend the lake would typically be filled with campers and people enjoying the outdoors) and walked the 1/3 of a mile on the Ray Atkeson Loop Trail to the vista point which overlooks the lake toward South Sister and Broken Top. This is what we saw:

The normal view from this point is:

Bend Oregon Real Estate Impacted by Fires

When Bend Brokers show property to perspective buyers, much of what "sells" a home is the view. Our MLS input forms emphasize Cascade mountain, city, river, waterfront, other mountain, and terrain views. When the smoke in the air keeps these views invisible, it is difficult to convince people who do not know the area to trust us - the views are spectacular. When we cannot walk outside without coughing due to smoke, when the elderly and sick are told to stay indoors due to unhealthy air, when windows cannot be opened due to the smoke of burning forests, it is hard to sell real estate. We will follow up in a few weeks with the actual published data on how Bend real estate sales have been impacted by the summer's fires.

Bend Luxury Home Sales Trending Up

During the recession of 2008 - 2011, Bend Oregon luxury home sales were few and far between. Desperate people sold stunning, luxury properties through short sales or banks foreclosed on them. New construction was extremely limited and only financed through private lending and the product built was not considered high end. Many luxury homes that did sell sold at a fraction of their true replacement cost and the Bend real estate luxury home market was very weak.

The Bend real estate market has recovered and luxury home sales in Bend are up. There is great confidence with new home builders building million dollar plus spec homes which buyers are purchasing at full listing price. While the overall Bend single family home sales reflect a less than 3 month supply, the $1,000,000 plus market shows a nine month supply, which is considerably lower than the...

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Are Redmond Home Sales in Transition?

The July 2017 trends for Redmond single family homes appear to reflect a changing market. While the average sales price continues to rise, less inventory is now on the market. While closed sales are up significantly over a year ago, new pended sales are down. The asking price for a home appears to be leveling off, but the average sold price is up considerably over a year ago.

The data for July Redmond home sales are well shown in the following chart:

Comparing July 2016 with July 2017:

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