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Bend OR Luxury Homes | Trends September 2017

By
Real Estate Broker/Owner with Bend Premier Real Estate 200009031

Bend OR Luxury Home Sales Continue Trending Up

The high end market in Bend appears to be showing continued strength. Despite a smoke filled summer with many forest fires, the concerns which dampened tourism during the eclipse, and an unprecedented winter with more snow than ever recorded before, there is great enthusiasm for Bend million dollar homes.

The following statistics compare September 2017 Bend single family home sales over  $1,000,000 on less than an acre with sales from September 2016:

  • Homes for sale up 27.9%
  • Homes sold up 75%
  • Homes pended up 66.7%
  • Average active price up 12.1%
  • Average sold price down 10%
  • Average price per square foot down 4.2%
  • Months of inventory down 27.5%

More interesting data can be seen comparing 3rd quarter 2017 with 2016:

  • Homes for sale up 27.9%
  • Homes sold up 138.5%
  • Homes pended up 64.3%
  • Average active price up 12.7%
  • Average sold price down 5.7%
  • Average price per square foot up 7.2%
  • Months of inventory down 48.4%*

What are Our Predictions for Bend Luxury Home Sales?

The trends show a growing demand for luxury homes in Bend. Although we are seeing a drop in the sold home prices, this can reflect the increase in new homes being built in the $1,000,000 to $1,200,000 price point. These homes are typically smaller than the "McMansions" built in Bend a decade ago and better suit the lifestyle of many of today's Central Oregon buyers. This idea is supported with the dramatic decrease in the months of inventory. It appears builders have found the niche for the luxury home buyer in Bend. As long as Bend Oregon builders continue to build what Bend home buyers want and at a price they can afford, we predict continued strong sales in the Bend luxury home market.

Bend Luxury Home Sales

* Data from Central Oregon MLS

Original blog can be seen at Bend Premier Real Estate's blog page.

Comments (8)

Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Oct 13, 2017 01:58 PM
Roy Kelley
Retired - Gaithersburg, MD

Growing hibiscus plants in Oregon 

This is an interesting article.

Oct 13, 2017 02:02 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Roy Kelley - at one time I did have a green thumb and successfully grew plants in my home. Now, anything alive there quickly dies!  I appreciate the link to the article, however!  But Portland is just above sea level (40 inches of rain a year and rarely below freezing) and has a very different climate than does Bend (3600 feet with 12 inches of precipitation a year mostly as snow).

Oct 13, 2017 02:12 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

What a strong market, Lynnea. You must be staying very busy. Have a wonderful weekend.

Oct 13, 2017 08:42 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Holy guacamole, Lynnea, I'll say Bend OR luxury homes are definitely trending upwards! GREAT numbers - I know your buyers and sellers are thrilled with this incredibly positive market.

Hope you have a great weekend, Lynnea!

Oct 13, 2017 10:12 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lynnea, despite Mother Nature's twists and turns, your luxury market is doing very well, great market update.

Oct 14, 2017 06:12 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Oct 27, 2017 05:04 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Lynnea.  Thanks for keeping us in the loop about the Bend OR luxury real estate market.

Oct 28, 2017 07:16 AM