Bend Premier Real Estate Blog

Bend Real Estate Sales Up Despite Rising Interest Rates

Mortgage interest rates for a 30 year conventional loan with 20% down have exceeded 5% for the first time in over a decade.  Despite the decreased buying power this creates for many, especially first time homebuyers, the March 2022 pending sales of Bend single family homes on less than an acre are up an amazing 108% over the year before. Bend home prices are also up with the median sales price now at $775,000. Bend has become a town of the affluent and while affordability has been an issue for many years, it is now a level never before seen.

When March 2022 is compared with March 2021, the figures for Bend single family home sales on less than an acre are as follows:

• Average sales price up 12.7% to $867,475*

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This last week, we came across a small, local donut company that we absolutely had to try. Little Pine Donuts specializes in brioche donuts that are hand rolled and made fresh each morning using only the highest quality  ingredients. These delectable, filled donuts are light and fluffy and each flavor is unique and perfectly balanced. 

We decided to try one of each flavor of donut in our order today plus doubling up on the Nutella flavor. In addition to the Nutella, Little Pine offers Vanilla, Lemon, Strawberry Cream and Creme Brulee. Each flavor was just as delicious as the last, however, the Creme Brulee was our personal favorite with the donut topped w...

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Bend Luxury Real Estate Sales Breaking Records

It is hard to believe, but ten years ago million dollar sales in Bend were rare and uncommon. Out of 1679 sales during the preceding 12 months that included February, 2012, only 9 were for more than one million dollars for Bend single family homes on less than an acre. This figure was .5% of total sales

The Bend real estate market has really changed! Out of the 2490 homes that sold during the preceding 12 months that included February, 2022, 433 closed for over $1,000,000, roughly 17% of total sales.  And while many of these sales would be considered "luxury homes," some are properties that just a few years ago were normal middle-class homes; due to extreme demand with little inventory these properties have seen their value increase into t...

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What's in the March 2022 Newsletter?

• How High Can Bend Prices Go? 2022 Market Trends & Predictions

• Oregon Lifting Covid Mask Mandates

• The Best Time to Buy Things for Your Home

• Bend's Newest Italian Fare

• What's Driving High Buyer Demand?

How High Can Bend Home Prices Go?

It seems that every month we are breaking records with Bend single family home sales. Since coming out of the great recession, Bend has experienced high demand for available housing leading to an increase in home prices. But since the Covid-19 pandemic and the resulting "stay at home orders" and recognition that working from home can be a viable option for many Americans, the increase in the number of people wanting to move to Bend has risen beyond that ever seen before. The lack of property for sale has resulted in tremendous price increases, with the median price of a Bend single family home on less than an acre up 67% above what it was in February 2020 when the pandemic began. While builders have tried to keep up with the demand, the price increases in building materials and subcontractor...

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