Bend Home Sales Down While Rate of Price Increase Drops

The Bend real estate market is in transition. With high mortgage interest rates impacting the buying power of potential Bend homebuyers and with sellers who may currently own a home financed under a low mortgage interest rate not listing, low inventory levels are keeping home prices up while the number of sales have dramatically dropped. We are seeing fewer new listings hitting the market, resulting in fewer pending sales and closed transactions. This is beyond the normal slow down that happens in Bend after school starts. This change is being felt nation wide and fewer home sales are happening with mortgage rates now approaching 8%.

Bend Real Estate Sales Impacted by Rising Interest Rates

We compare Bend Home sales year over year in order to be consistent in our data. When September 2023 sales of Bend single family homes are compared with those from September 2022, the following changes can be noted...

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Many of our Brokers have outside interests, hobbies and sometimes additional jobs. Some Bend Premier brokers are passionate about charity, volunteering, serving on various committees (some real estate related and some not), and finding ways to stay involved and busy. However, I doubt any other Broker in Oregon has had such an active role in television and entertainment as Matt Wilson. Besides being an actor, Matt also has worked for NBC in television editing, and last winter worked on NBC's broadcasting of the XXIV Winter Olympics held in Beijing. He found out that he had won an Emmy for his editing work for NBC last month and his Emmy arrived in Bend this week.  Congratulations, Matt, on such an impressive award!

The survey conducted by The Source Weekly for the Best of Central Oregon in 2023 resulted in two winners for Bend Premier Real Estate. Tiffany Clark was named the runner up for Best Realtor and Bend Premier Real Estate was named the runner up for Best Real Estate Company.  Thank you to everyone who voted for us. We appreciate the support!

Bend High End Home Sales Reflect a Changing Market

It has been awhile since we last reported on Bend luxury home sales. We pulled a report showing year to date activity over the past three years. While Bend home prices in general are back to a small upward trajectory year over year, the numbers of sales are significantly down, as they are in all price points in most of the markets in Central Oregon and across the country.  Higher interest rates have changed the buying power of would-be home purchasers, even in the high end, and have also kept many would-be sellers off market. Why sell when the mortgage interest rate many homeowners have is so good? A replacement home, while potentially being better for the current lifestyle of a home seller, may cost more on a monthly basis with the higher interest rate with which they may need to purchase.

When the first six months of high end Bend home sales are compared year over year between 2022 and 2023, the following change...

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Bend Premier Real Estate is Pleased to Welcome Drue Ripp

Drue Ripp is a versatile and experienced real estate professional who understands the diverse needs of clients, whether they are in the process of growing their family or looking to downsize their home. With over 35 years of residency in Bend, Drue possesses a deep understanding of the local community, its amenities, and the real estate market.

As a devoted mother of three daughters, Drue has personal experience in finding a home that accommodates a growing family. She recognizes the importance of space, proximity to schools, and a family-friendly environment. Drue can offer valuable insights into the local school system, different neighborhoods suitable for families, and available amenities.

Additionally, Drue empathizes with clients who are looking to downsize their home. As her children have grown and she understands the desire for a more manageable living space without compromising comfort or life...

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