Bend OR Luxury Homes Sales - June 2019 Trends

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

Bend Oregon Luxury Homes Sales Growing

Bend's high end real estate market has been trending upward for several years. Almost unheard of less than 10 years ago, the sale of million dollar homes in Bend has become common and the construction of million dollar spec homes the norm in several Bend neighborhoods.

From July 2018 through June, 2019, 67 Bend homes priced between $1,000,000 and $1,299,999 have sold, a figure that is up 11.7% over the previous 12 months. For homes priced $1,300,000 to $1,599,999, 29 Bend homes have sold, up 11.5% over the same period a year before. Homes priced between $1,600,000 and $1,999,999, the figure is 13 homes, up 30% and for the very high end, the $2,000,000 or more price point, the figure is 7, which is up 75% over that same 12 month period.  This data pertains to Bend single family homes on less than an acre.

Bend Oregon Real Estate Trends

Bend Luxury Home Sales Have Balanced Market

The increased demand for high end homes in Bend has led to increased million dollar sales and in turn, a reduction in inventory. For many years, the high end market in Bend was geared toward buyers, with many months of inventory and many choices of homes for buyers to choose from.  The market has changed over the last year and inventory levels have dropped in almost all categories to under 6 months - a figure that is considered balanced between demand and supply.

The amount of luxury homes for sale in Bend dropped 11.7% from July 2018 through June 2019 in the $1,000,000 to $1,299,999 price to 5.3 months. During this same time, the $1,300,000 to $1,599,999 inventory dropped 36.6% to 5.9 months. In the $1,600,000 to $1,999,999 price point, the inventory levels dropped 15.9% to 5.8 months. And in the $2,000,000 plus figure, the 6.8 months of inventory remained unchanged.

 Bend Premier Real Estate

Predictions for Bend Luxury Home Sales

Baring any drastic change in the country's economic situation and Bend's feeder markets of the San Francisco Bay Area, Seattle and Portland, we believe that the trends support strong sales in Bend's high end real estate market for the rest of the year.

Original blog can be read at Bend Premier Real Estate.

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Rainer
404,040
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Jul 02, 2019 11:34 PM #1
Rainmaker
3,052,869
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Nice update, Lynnea. Here in Charlotte, the luxury market is the slowest part of our market and where we have inventory.

Jul 03, 2019 05:07 AM #2
Rainmaker
395,114
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Nina Hollander . It seems like the high end keeps getting higher! Our average home price is well over $500,000 now.  

Jul 03, 2019 09:48 AM #3
Rainmaker
3,052,869
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Lynnea... that's almost twice our average sale price!

Jul 03, 2019 01:41 PM #4
Rainmaker
3,194,302
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Hope you had a relaxing Fourth of July just wanted to stop in and say hello, it has been a while...Endre

Jul 06, 2019 11:55 PM #5
Rainmaker
3,135,470
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lynnea, Always great to see what is happening in your area and bet buyers and sellers are glad for it also.

 

Jul 08, 2019 11:29 AM #6
Rainmaker
5,342,808
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing you local market reports.

Have an outstanding weekend.

Jul 19, 2019 01:42 PM #7
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Rainmaker
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Lynnea Miller

Premier Real Estate Service in Central Oregon
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