Tetherow Real Estate Market Trends - Bend Oregon

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

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.

Tetherow Median Home Price

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 new home listings

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.

Tetherow sold homes

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

 

Comments (6)

John Pusa
Glendale, CA

Hello Lynnea Miller very valuable real estate report for Tetherow Bend, Oregon.

Dec 08, 2023 08:04 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information. Thanks for sharing, enjoy your weekend. Bill

Salvatore Arizona Elite Properties.

Dec 09, 2023 04:05 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lynnea. As we move into 2024 and the economy hopefully becomes more certain activity may pick up. The mortgage rates are what they are but other factors must improve before they are more widely accepted. Time will tell. Enjoy your day.

Dec 09, 2023 05:38 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lynnea... great, easy-to-understand report on Tetherow (interesting name, by the way). We had similar situations for quite a few high end communities in the Charlotte area back then... and boy have they recovered.

Dec 09, 2023 06:17 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lynnea and thank you for your market report you are sharing with us here in the Rain.  Make it a great weekend.

 

Dec 09, 2023 10:58 AM
Roy Kelley
Retired - Gaithersburg, MD

Families considering a move to the area will appreciate your local real estate reports.

Dec 14, 2023 10:55 AM