Awbrey Glen Is An Established Bend Luxury Subdivision
Brooks Resources broke ground on Awbrey Glen in 1993 and completed the subdivision in 2006. Its 156 homesites were sold individually to buyers who were able to hire their own contractor to build their custom home, subject to architectural guidelines. This created a neighborhood of unique high end homes, many of which bordered Awbrey Glen Golf Course. Today there are 375 members of Awbrey Glen Golf Club, a private club offering the golf course, restaurant, pool, fitness facility, and many activities. People who live at Awbrey Glen tend to enjoy their home and social life.
Awbrey Glen Sales Prices Dropping
Unlike Bend in general, home prices in Awbrey Glen are going down. This may be partly because Awbrey Glen's listings are limited. With only 156 homesites in a fully built subdivision, Awbrey Glen home sellers are fewer than other developments in Bend. Homes there are of varied size and value. It may be that the homes sold in the last year are those which are considered less valuable than others. Or it could be that with the changing market, Awbrey Glen home sellers needed to reduce their prices in order to sell. We are seeing asking prices being reduced in Awbrey Glen prior to selling. Multiple offers which push prices up are becoming rare.
Fewer New Home Listings In Awbrey Glen
As with much of Bend and the country in general, potential Awbrey Glen home sellers are waiting to list. High interest rates are keeping many sellers from listing their homes which may have a mortgage interest rate of less than 4%. As a result, there are few new listings in Awbrey Glen. However, compared with 2022, there has been a slight uptick in new listings over the past twelve months.
With few new listings, there are also few sold homes. Only 19 closings occurred in Awbrey Glen over the past twelve months, the same as that experienced in 2022.