Bend Premier Real Estate Blog

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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Bend Real Estate Trends Mixed in November

The data has been published and Bend single family home trends show mixed results for November. When Bend home sales from November, 2018 are compared with the sales from November, 2017, the following changes can be seen:

• Homes for sale down 7.3% to 456
• Homes sold down 16.7% to 170
• Homes pended up 4.1% to 153
• Average price per sq ft up 6.6% to $243
• Average days on market up 9.6% to 114
• Average active price up .9% to $663,000
• Average sold price up 11.7% to $516,000
• Median sold price up 11% to $433,000
• Months of inventory up 12.4% to 2.7*

Why are Bend Home Sales Slowing?

Closings were down significantly in November which can be contributed to the softening Bend home sales seen earlier in the year; days on market and months of inventory are both up. While...

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Bend Oregon Home Sales Show Mixed Trends

We have noted for the last few months that residential home sales trends in Bend have been changing.  The figures for October, 2018 reflect this change in a manner that we have not seen for some time.  While prices continue to rise, sales have dropped off significantly. The following data compares Bend single family home sales in October 2018 with those from October 2017:

• Homes for sale down 12.9% to 505
• Homes sold down 5.2% to 221
• Homes pended down 16.1% to 188
• Average price per square foot up 7.7% to $252
• Average days on market down 1% to 104
• Sold/Original listing price differential down 2.1% to 95%
• Average active price up .9% to $641,000
• Average sold price up 9.3% to $516,000
• Median sold price up 6.5% to $433,000
• Months of inventory based on closed sales down 8% to 2.3*

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Welcome Back Rachel!

Bend Premier Real Estate is thrilled to welcome Rachel Greenwald Rhoads back to the brokerage. Rachel has spent the last two years working in commercial real estate and brings this expertise back to Bend Premier.

Rachel began her career as a residential real estate agent and had great success with residential sales for 6 years. It was while working in residential that she determined she needed the added experience with commercial real estate to best represent her clients in all their real estate needs.  Her tenacity in finding the best property for her clients or in representing them in their sale is a trait that makes Rachel a phenomenal real estate Broker. You can read more about Rachel in the Bend Premier Company page.