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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Bend Premier Real Estate Top Producers for 2018

At a recent lunch meeting, the Bend Premier Real Estate top producers for 2018 were announced. All Bend Premier Brokers contributed to the success of the brokerage in 2018, but special recognition was given to those in various categories:

• #1 Top Producer Dana Furlan
• #1 Top Team - Pattie Serbus
• #1 Top Individual Sale - Jen Chapman & Robert Curzon
• #1 Rising Star - Danielle Gates

Recognition was also given to the top 10 in total sales:

• Sherry Ortega
• Cate Cushman
• Jacque Martini Roberts
• Kathy Hovermale
• Rob Lindberg
• Tina Roberts
• Laura Curry
• Eric Andrews
• Liz Shatterly & Elizabeth Ueland (tie)

Br...

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Is the Bend Real Estate Market Overpriced?

The figures are out and the trends we have been following over the past year were again seen in the December 2018 Bend residential real estate sales figures. December 2018 saw a dramatic reduction in Bend home sales on less than an acre compared with December 2017:

• Numbers of homes for sale down 10.4% to 396
• Numbers of homes sold down 15.9% to 159
• Numbers of homes pended down 14.4% to 131
• Average price per square foot on sold homes up 3.8% to $244
• Sold price to original listing price difference down 2.1% to 95%
• Average days of market up 2.8% to 111
• Months of inventory up 8.6% to 2.5 (based on closed sales)
• Average active price up 5.6% to $701,000
• Average sold price up 14.3% to $521,000**

The figures for act...

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Bend Luxury Home Sales Rise in 2018

The Bend high end real estate market grew considerably in 2018.  Million dollar homes, including those built for speculation, have sold at larger numbers than those in 2017 with the greatest percentage increase in the $1,300,000 to $1,699,999 range (up 42.9%). **

For available inventory, the numbers of homes in the $2,300,000 and up range grew by the largest percentage with 50% more properties available in 2018 than in 2017. The months of supply fell in all categories except the highest where the inventory levels are now at 17.2 months (up from 10.9 months in 2017).

Pending sales were also up with the greatest percentage increase in the $1,300,000 to $1,699,999 category with an increase of 63.9%  There were 59 homes which went pending during 2018 which are listed in this group.  There were 93 pendin...

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Bend Commercial Real Estate Impacted by Lack of Inventory

Historically, our local commercial real estate market trends above the national averages. Our Central Oregon area commands very aggressive CAP rates due to supply and demand; when you put a magnifying glass to our market, we have very little Industrial property For Sale/For Lease and it would appear that the Urban Growth Boundary expansion recently passed will not solve this immediate problem. Our local market in most cases this year has positive absorption rates for office and retail as well. 

What's Up on the National Front?

Our local commercial real estate market trends about a year behind what we experience in the residential market. This is consistently true and while residential real estate sales experienced a sudden recessional impact in 2008, commercial real estate sales stayed consistent until roughly 2^nd quarter 2009 and then fell into distressed "short sa...

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