Central Oregon Real Estate Home Prices Trending Up

Those who have lived longer than 5 years in Central Oregon have seen home prices rise at a rapid pace, especially in Bend and Redmond.  The average price for a single family residential home in Bend has risen over $200,000, the price for a Redmond home has more than doubled, Sisters homes are up 40% and Sunriver home prices have risen 22% in the last five years. 

Our Predictions for Central Or Single Family Homes

The question can be asked, will Central Oregon home prices start to level off?  Have we reached the top? Obviously affordability for locals has been an issue for several years. But for new Central Oregon residents, the price for a Redmond or Bend single family home is extremely inexpensive relative to the home prices...

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Bend Luxury Home Sales Trending Up

Bend home buyers and sellers know that real estate prices have been on the upswing for several years. Bend homes have gained value consistently since 2011, with the average sales price up 95% in the last 7 years.*  However, what about the luxury, over $1,000,000 market? What have the last 2 years shown for high end home demand in Bend?

As expected, home prices are up in the luxury market as well. When the trends from 2016 through 2017 are compared with Bend single family homes over $1,000,000 on less than 2.5 acres are compared, the following changes can be seen:

• Number of homes for sale up 11.1% to 60
• Number of homes sold up 54.5% to 85
• Number of homes pended up 46.7% to 88
• The average square foot price is up 4.6% to $326.68
• The months of inventory based on closed sales is down 17.2% to 12
• The sold/original listing price difference is up 3.3% to 95%
• The...

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Bend OR Builders Cannot Keep Up With the Demand

Everyone living in Bend should be aware that a lot of new residential homes are being built. Just drive through town and new subdivisions and new in-fill on what used to be open space are popping up throughout the city. Builders are finding it difficult to keep up with the demand and people working in the building trades are stretched thin with far more work than they can handle. This demand is  leading subcontractors to charge more to keep their employees well paid and to make a good profit, suppliers charging more for their building materials, and home prices for new construction rising as a result.

When comparisons are made between new residential construction over $1,000,000 from 2016 to 2017, the following statistics can be noted:

• Homes for sale up 6.3%
• Homes sold up 66.7%
• Homes pendi...

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Bend Real Estate Market Shows No Sign of Slowing

The 2017 year end data is out and the Bend real estate market continued its upward trends. Outside of the slowdown experienced during the winter of 2016/2017 where Bend residents were more concerned with ice dams and heavy snowfall than selling or buying property, the data from 2017 mirrors what we have been experiencing since leaving the recession of 2008-2011. Bend home prices keep rising and people keep buying.

The following data compares Bend single family home sales from 2016 to 2017

• Number of homes for sale up 11.6%
• Average price per square foot up 9.5%
• Average active price up 7%
• Average sold price up 10.2%
• Months of inventory based on sold sales remains le...

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Home Prices Continue to Rise in Redmond

Redmond Oregon single family home sales continue to show strength as we move toward the end of 2017.  Although we see the normal seasonal reduction in inventory and slow down in new purchase agreements, the increase in Redmond home prices persists and the demand for housing remains robust.

When data from November 2016 is compared with November 2017, the results for Redmond OR single family homes sales are as follows:

• Homes for sale up 9.8%

• Homes sold down 15.7%

• Homes pended down 1.4%

• Averag...

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