Tetherow Is A Premier Luxury Golf Resort Community In Bend
The developer for Tetherow broke ground on the destination golf resort prior to the housing crisis of 2008. Initial lot sales were brisk, but once the great recession hit, sales dried up. The development sat with little activity until 2012 when lot sales, at a reduced price, started happening again. Over the past 11 years Tetherow has grown and become the destination resort initially envisioned with an active golf and social club, high end luxury homes and townhomes, a hotel, overnight rentals, three restaurants, and much more all adjacent to Bend's city limits on the road to Mt. Bachelor ski resort. It is truly one of Bend's success stories.
Market Trends For Tetherow Homes
Tetherow home prices have been among Bend's highest over the past three years. The Covid pandemic led to a mass migration to Bend and many wealthy buyers purchased in Tetherow pushing home prices even higher. However, over the past year the median home price in Tetherow has dropped.
The number of new listings in Tetherow have dropped as interest rates have risen. More and more sellers are staying in their existing homes rather than move to a new property financed at a higher mortgage rate. With current trends reflecting a reduction in mortgage interest rates over the past six weeks, there may be a change to the number of Tetherow listings if these trends continue.
Tetherow home closings reflect the current market conditions. Limited listings and high interest rates have resulted in fewer sales than experienced in past years. However, as one of the few developments in Bend in which home buyers can purchase a lot, hire an architect and a contractor of their choosing to design and build their own custom home, Tetherow's desirability will remain, especially for the luxury home buyer.
Original blog can be read at Bend Premier Real Estate's blog page.