Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas.

We are seeing a transition in the Bend real estate market and a slight increase in inventory.  The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:

Bend Real Estate Prices Trending Up

As the charts show, the growth in Bend real estate sales are occurring in the high end, although the majority of Bend single family home sales are under $500,000. The decrease in the solds under $500,000 can be attributed to less available inventory in this price point, and more demand and available homes in listings over $500,000. We will continue to follow the data and see how these changes trend moving into the fall season.

Original post can be read at Bend Premier Real Estate.