Bend Premier Real Estate Blog
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23
Are Bend New Home Prices Leveling Off?
Bend New Construction 5 Year Trend
For the past few years, we have been reporting that Bend home prices have been rising. From almost no new construction during the great recession to now where it appears that new homes are being built all over town, Bend has recovered from the downturn. New home trends in Bend have gone from $430,000 to $591,000 asking price (up 37.5%) and $315,000 to $522,000 selling price (up 65.7%) over the past 5 years.* Ask any builder and they will tell you that land prices, rising material costs and labor shortages have driven the price of Bend new homes.
12
Bend Oregon Real Estate | February 2018 Trends
Bend Oregon Home Sales Stay Strong
Over the last few years, we have reported that single-family residential home sales in Bend have stayed strong and prices keep rising. February 2018 has been no exception to this trend. Home prices continue to rise and lack of inventory remains a serious issue. In addition, the relative lack of snow in 2018 has kept sales and new listings growing when compared with the record breaking snowfall experienced in 2017. The following data is for single family homes in Bend on land under an acre reflecting February 2017 and February 2018:
- Homes for sale up 24.4% to 540
- Homes sold up 31.4% to 201
- Homes pended up 18.1% to 228
- Average price per square foot up 7.2% to $237,000
- Average days on market down 8.5% to 118
2
#7 Fun Real Estate Fact - Why is There a Spire on the Top of the Empire State Building?
Built in 1930, the Empire State Building is one of the most memorable buildings in the world and is an iconic representative of New York City and Manhattan Island. The skyscraper has been the location of famous movies (i.e. King Kong), the office of many businesses and at one time, the tallest building in the world.
The 200 foot spire on the top of the 1050 foot tall building was placed, according to former New York State Governor Al Smith and the construction chairman of the building, to serve as a mooring mast for the docking of dirigibles with the argument that the closest port for these blimps was in Ocean County, NJ at the time. However, many believe that the reason the spire was really placed was to top the 1046 foot tall Chrysler Building as the tallest building in the world.
If you have a chance to visit New York City, a stop at the Empire State Building is a must. Seein...
19
Redmond Oregon Real Estate - 2017 Trends
Redmond OR Home Prices Continue to Rise
Redmond has historically been a more affordable option for people moving to Central Oregon. Home and land prices in this vibrant town have remained lower than those in Bend, and with the commute between the two communities less than 20 minutes, Redmond has often been a first choice for many relocating to our area.
However, the growth in Central Oregon has pushed single family residential home prices in Redmond higher since coming out of the recession in 2012. In fact, over the past five years, home prices in Redmond have doubled with the average sold price now over $300,000.
When single family residential Redmond home trends are compared between 2016 and 2017, the following statistics can be seen: