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Deschutes Riverwoods Bend Oregon Real Estate Trends

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

Deschutes Riverwoods Home Prices Trending Down

Deschutes Riverwoods has long been a Bend subdivision desired by those enjoying its proximity to the city (it abuts Bend's southern boundary), but the freedom of large lots without Homeowner's Associations or CC&Rs. Homes here range from single wide manufactured to luxury homes overlooking the Deschutes River. It is also a neighborhood in transition with more and more of the older mobile homes being replaced over time with stick-built single family. 

Home prices have dropped in Deschutes Riverwoods over the past twelve months in comparison to the previous year. This could be due to the type of home being sold, or a general overall reduction in home prices as home sellers adjust their asking dollar to accommodate higher mortgage interest rates. Deschutes Riverwoods has long been a favored subdivision for first time homebuyers, and the buying power of most initial homebuyers has been greatly impacted with mortgage interest rates approaching 8%.

Deschutes Riverwoods Median Sales Price 102023

The Number Of Homes For Sale And Sold In Deschutes Riverwoods Decreasing

There has been a more than 60% drop in new listings in Deschutes Riverwoods over the past twelve months. Homeowners with great interest rates are not selling, despite significant demand. Why sell and give up a 3% financed mortgage to replace it with 8%?

Deschutes Riverwood New Listings 102023

Tied in with new listings are homes sold. These are down 61.5% over the past year. And until such time that Deschutes Riverwoods home sellers see value in moving, we predict limited listings and limited sales will continue.

Deschutes Riverwoods Solds 102023

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

 

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Looks like a beautiful autumn wood where a magical, enchanted forest of animals lives builds tree houses and has a great old time. And I mean that in a in the best possible way.. :

Oct 20, 2023 11:48 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lynnea... excellent and easy to understand report on why home prices Deschutes River Woods might be down. It's not always because home values are down.

Oct 21, 2023 05:50 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Looks like prices are better than 2021 and hopefully bouncing back.
I have family in Black Butte, Bend and Portland. I have friends that retired to the River Deschutes - Oregon has been a part of my life since 1980...when my family originally invaded LOL.

Oct 21, 2023 07:21 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Thanks for sharing your market update.  Great information for buyers and sellers in your area.
Oct 23, 2023 02:42 AM