What's Up with Bend Luxury Homes?
Bend's high end home market is growing. There is demand for homes in the million dollar plus category that was unheard of just a few years ago. The number of Bend luxury home sales is up while inventory levels are down, and with prices continuing to increase, this trend does not appear to be stopping anytime soon. The following information includes data from the last 3 years with each bar reflecting 12 months.
As you can see, the number of homes sold over a million dollars has trended upwards over the past 3 years. Even those homes priced over $2,000,000 have increasing sales. And while sales are increasing, inventory levels are dropping.
How Do Luxury Home Sales Impact the Bend Real Estate Market?
As we reported in earlier blogs this year, month to month sales figures for single family Bend homes comparing 2018 with 2019 have shown a decrease in inventory levels, pending sales and closed sales while prices keep rising. When we do these general trends, all figures for single family homes in Bend are incorporated into the data, including the high end. As this blog shows, the high end is becoming a larger percentage of Bend single family home sales as more property over a $1,000,000 sells. We will keep on reporting the information and monitoring the trends.
Original blog can be read at Bend Premier Real Estate's blog page.