Bend Premier Real Estate Blog

Bend Real Estate Sales Slow As Winter Approaches

As the days shorten and the weather gets colder as we approach the start of winter and the end of year holiday season, real estate sales in Bend typically slow. The November 2017 trends are no different than what we traditionally see this time of year.  When November 2017 trends for Bend single family home sales are compared with November 2016, the data show as follows:

• Number of homes for sale is up 8.6%
• Number of homes sold is down 3%
• Number of homes pended is down .6%
• The months of inventory based on closed sales is up 8.8% to 2.5 months

Given the continued demand for Bend single family homes, as expected prices continue to rise comparing November 2016 to November 2017:

• The average sold price per square foot is up 5.6% to $228

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Bend Single Family Home Sales Are Up

The October home sales numbers in Bend provide data which reflect a strong market. Coming out of a summer with an unprecedented number of wildfires which greatly impacted tourism, real estate sales this fall have come roaring back with a large number of closings, new inventory and a continued uptick in home prices.

Comparing October 2016 with October 2017, Bend real estate trends show the following:

• The number of homes for sale are up 17.2%
• The number of homes sold are up 15.2%
• The number of homes pended are up 2.2%
• The average price per square foot is up 7.3% to $234
• The months of inventory based on closed sales is unchanged
• The average active home price is up 8% to $647,000
• The average sold price is up 12% to $475,000
• The average day...

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Central Or Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon Single Family Home Inventory Levels R...

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Central Or Single Family Home Sales Trend Up

Despite the snowy winter of 2016-2017 and the unprecedented wildfires experienced during the summer, Central Oregon real estate sales remain strong. Although the trends seem unsustainable, the roughly 10% increase in sales price year after year since 2011 have continued in the single family home market in Bend, Redmond, and Sunriver.  Only Sisters shows a reduction in the average October sales price from a year before, perhaps a reflection of this summer's Milli fire which was located just outside of the Sisters city limits.

Central Oregon Single Family Home Inventory Levels Remain Low

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Bend Premier Real Estate has 24 at Bend Chamber Forecasting Breakfast

The recent forecasting breakfast at Bend's Riverhouse had 3 great speakers discussing the national, state and local economy. Locally, Bend's workforce is older than it was 10 years ago, but the diversity of the economy speaks well for future down turns. Bend has jobs in the medical profession, construction, tourism, high-tech, and more so if one specter of the economy is impacted, most likely the city will be able to weather a recession better than a city where only one or two types of businesses hold the majority of jobs.

Discussion also focused on small business start ups and small business loans. Both are on the uptick across the country which speaks well for continued optimism and growth.

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