Awbrey Butte Real Estate Market Trends September 2023

Real Estate Broker/Owner with Bend Premier Real Estate 200009031

Awbrey Butte Is One Of Bend's Premier Luxury Neighborhoods

Originally developed by Brooks Resources in 1984, Awbrey Butte was "finished" in 2005. Containing over 1800 acres with 782 homesites, Awbrey Butte remains one of Bend's most prestigious neighborhoods. The development focused early on large homesites providing for privacy and retained much of the natural landscape and mature trees which existed there. Many homesites were situated to provide for Cascade Mountain, city or eastern views. A large number of the homes were built at a time in which natural woods were popular and the resulting neighborhoods often contained many large, lodge-style homes. Today's home buyers usually recognize the quality of these beautiful properties and may remodel them to a more current look while retaining much of the original ambiance.

Market Trends For Awbrey Butte Homes

Awbrey Butte experienced the same market trends of most of Bend during the past three years. Covid created a large demand for Bend homes causing prices to rise dramatically, and while the rate of the increase in home prices has dropped, Awbrey Butte home prices are still going up.

Awbrey Butte Real Estate

There are fewer new listings in Awbrey Butte than there have been in past years.  Despite the high prices, home sellers are hesitating putting their homes on the market. The typical move up or move down home seller is not listing, often due to high mortgage interest rates. If the potential home seller has a mortgage of less than 5%, why sell when the replacement property will need to be financed at over 7%?

Awbrey Butte Real Estate new listings

Awbrey Butte home sales are down as well. In a subdivision which has been fully built, any new listings are coming from resales rather than new construction. With limited listings, few sales can occur. A key to new home sales in Awbrey Butte as well as the rest of Bend will be lowered mortgage interest rates which will encourage home sellers to list when their new purchase can be financed at a good price.

Awbrey Butte real estate sold homes

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


Comments (7)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lynnea Miller this is valuable information for both Buyers and Sellers in your area.

Sep 19, 2023 04:35 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi George Souto .  Thanks for checking in.  I have a new website and I am trying to build SEO in individual subdivisions by writing blogs about these trends, as well as my general city and luxury real estate trends.  It seems to be working on the one I already did.

Sep 19, 2023 05:32 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lynnea. Your leadoff phot is so enticing, I am having trouble paying attention. Enjoy your day.

Sep 20, 2023 04:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lynnea... can't sell what you don't have to sell. Awbrey Butte looks like a gorgeous place.

Sep 20, 2023 05:07 AM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Wayne Martin . That property is a listing we sold a few years ago and is representative of those lodge style homes which were built on Awbrey Butte before the current trend for ultra modern kicked in.  Thanks for reading my blog!

Sep 20, 2023 12:17 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Nina Hollander, Broker .  Hard to believe I had the opportunity to buy a lot on Awbrey Butte in the first phase for $28,000. Now we have listing there for over $500,000 just for the land.

Sep 20, 2023 12:18 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Thank you for including the interesting history Lynnea Miller along with great information buyers and seller can use. Aubrey Butte looks like a wonderful place to call home.

Sep 21, 2023 09:11 AM