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Bend, OR Real Estate News

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Up As Are Inventory Levels Bend home prices are up year over year but so are inventory levels. The rate of the increase in Bend home prices has dropped, but we are still not experiencing overall reduced home prices. While buyers have more options, mortgage interest rates (just short of 7% as of July 3, 2024) remain high which has limited the buying power for many. July typically is the busiest month of the year for Central Oregon home sales and it remains to be seen whether the combination of high prices and high mortgage interest rates will curtail Bend real estate sales this summer.When June 2024 is compared with June 2023, the following changes for Bend single family home sales on less than an acre can be noted: Average sales price up 5.9% to $969,547* Median sales ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
The Hike To Tumalo Mountain Still Has Snow 6-22-24 After a winter which had good snowfall, hiking into the high Cascades has been delayed due to the snow accumulation. However, the warm days experienced over the past week have aided snow melt.  Last Saturday, June 22, 2024, enough snow had melted on Tumalo Mountain to enable hikers to walk the 1450 feet of elevation gain in two miles from the trailhead to the top. It appeared as if half the time the trail was covered by snow, but it was fairly easy to follow the route until the last 1/2 mile; GPS helped navigate this as did microspikes over ice.The hike up Tumalo Mountain is only 2 miles, but the views from the top toward South and Middle Sister, Broken Top, and Mt Bachelor can be spectacular. For those who take the hike early in the d...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What The Puzzling Trends For Bend Home Sales Tell Us The May 2024 data has been published and it appears that Bend home buyers have more options. Inventory levels are up, but so are prices and overall sales are down. Basic economics tells us that as supply increases, prices should decrease. But right now, the supply of Bend homes has grown along with a slight uptick in home prices with sales significantly down from the year before. Adding to the confusion are mortgage interest rates. According to Freddie Mac, mortgage interest rates were above 7% for most of the month of May which impacted the purchasing power of many potential Bend home buyers.                      What Were The Bend Real Estate Trends May 2024? When May 2024 is compared with May 2023, the following data reflects Bend...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Bend Luxury Home Prices Stabilizing?It has been a while since we have done a careful analysis of the high end Bend home market. Overall, the Bend real estate market has seen growth in inventory levels along with high mortgage interest rates and a more normal increase in home prices. The same cannot be said for the luxury market. For Bend luxury single family homes on less than an acre, inventory levels and sales prices appear to have stabilized with only a slight increase in the number of homes priced between $1,000,000 and $1,600,000. For homes priced over $1,600,000, there has been a decrease in sales price over the past twelve months. The Number Of Bend Luxury Homes Selling Is Down Along with high mortgage interest rates comes issues with affordability. Even with the luxury home ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Home Inventory Levels Rising Bend real estate is entering its peak selling season from late spring until early fall. With this season a rise in home inventory levels typically leads to greater buyer interest and more sales as buyers who may have been sporadically looking for homes get more serious about their purchase, often wanting to negotiate a sale and closing before fall. Sellers who may have been waiting until spring and summer when landscaping is alive and curb appeal can be its best will put their homes on the market hoping to sell quickly. And real estate brokers may find that both buyers and sellers they have been in communication with through winter are now ready. The April figures for Bend single family home sales on less than an acre reflect rising inventory le...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Hayden Homes Amphitheater In Bend OregonNestled in the heart of Bend's Old Mill District along side the Deschutes River, Hayden Homes Amphitheater stands as a testament to the harmony between nature and music. With its picturesque surroundings and state-of-the-art facilities, it has become a beacon for music enthusiasts and performers alike.2024 Season of ConcertsThe 2024 season promises to be a spectacular journey through a diverse range of musical genres, catering to every taste and preference. This year there are so far 49 shows on the books including Rock, Classic Rock, Indie-Alt, Pop, Country, Reggae and a few high-profile comedy acts.  To name a few:  Sarah McClachlan, Dave Matthews Band, Vampire Weekend, Stray Cats, Cage the Elephant, Matt Rife, Illza, Nickel Creek, The Avett Bro...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Discovery West Is A New Westside Bend Oregon Subdivision Discovery West is the latest subdivision in the NorthWest Crossing area of Bend's Westside. Developed west of Summit High School and with 40 acres of parks with miles of trails, the project offers a variety of housing options, ranging from apartments, town homes, cottages and single-family homes. Discovery West is being built under the "transect" concept of urban development in which the housing density decreases the further out people go from the urban core. The goal with this type of development is to help mitigate wildfire risk and the impact on wildlife.  Discovery West Is Popular With Bend Home Buyers There is a lot of new construction occurring in Discovery West.  As a new subdivision, many contractors are building spec hom...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Up And Inventory Levels Down Despite the trends for January and February 2024 in which prices seemed to stabilize, the sales price of Bend homes rose unexpectedly in March. The year over year figure shows both median and average Bend home prices were up over 12% and inventory levels were down. When coupled with the steep rise in prices, affordability remains a major problem for potential Bend home buyers. When March 2024 is compared with March 2023 for Bend single family homes on less than an acre, the following trends are noted: Average sales price up 12% to $893,967* Median sales price up 13.2% to $760,000 Average list price up 9.2% to $1,059,212 Median list price up .9% to $797,000 New listings down 13.8% to 175 Homes for sale down 15.2% to 240 Pending sales down 2.6...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
High Mortgage Rates - High Prices Affecting Bend Home SalesFor the 4th week in a row, the thirty year mortgage interest rate has risen which has impacted real estate sales across the country. With these rates now pushing 7%, the buying power of Bend homebuyers has diminished.With this change, few sellers are putting their homes of the market. Why sell a home with a great interest rate when the replacement home will cost so much more to finance? Both Bend home buyers and Bend home sellers are making decisions based on the cost to finance and when mortgage rates rise, often the decision made is to do nothing.Bend Real Estate Inventory Levels Remain LowAlthough there is always a downward seasonal adjustment for Bend home sales in the winter, the number of homes for sale and pending sales i...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Central Oregon Lifestyle Attractions And The Bend Real Estate MarketCentral Oregon is known for its stunning natural surroundings, outdoor recreational opportunities, and a thriving community. Here are some key points about Bend: Outdoor Activities: Bend is a paradise for outdoor enthusiasts. The city is surrounded by mountains, lakes, and rivers, offering a wide range of activities such as hiking, biking, skiing, snowboarding, fishing, and more. The Deschutes River runs through the city, providing opportunities for water-related activities. Climate: Bend has a semi-arid climate with four distinct seasons. Winters can be cold with snowfall, making it a popular destination for winter sports. Summers are generally warm and dry, perfect for outdoor activities. Economy: The economy in Bend ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Leveling Off The January 2024 Bend real estate market shows some stabilization. Although the average and median price per square foot are both up, the average and median sales price on sold homes comparing January 2024 to January 2023 show little movement. The issue most Bend home buyers are still dealing with is lack of inventory which provides few choices for people looking to purchase. Although mortgage interest rates have come down from the high rates pushing 8% seen last fall, they are still in the mid sixes which also impact the purchasing power for home buyers. When the January 2024 sales for Bend single family homes on less than an acre are compared with those from January 2023, the following changes can be seen: Average sales price down 1.9% to $842,669* Media...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Real Estate Sales Were Limited In 2024 Probably the biggest challenge for Bend Home Sales in 2024 was mortgage interest rates. Mortgage rates started the year at 6.48% and ended the year at 6.62%. During the middle of the year, the mortgage rates rose to 7.79% which greatly limited the buying power for most Bend homebuyers who needed to finance in order to purchase. Home sales in Bend continued, but at a greatly reduced rate than experienced during Covid when mortgage rates under 4% were normal. High mortgage rates also kept many Bend home sellers from listing. The thought for many was why sell and give up a great mortgage rate of less than 4% to exchange to one over 7% on a different home? Many Central Oregon real estate brokers discovered that many listings were limited t...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Mt Bachelor Village Is One Of Bend's Oldest Resort Communities Envisioned in the early 1970's by Brooks Resources as a resort community to house vacationers wishing to ski at nearby Bachelor Butte (now known as Mt. Bachelor), the successful condominium development of Mt Bachelor Village has grown beyond the 1/5th fractional ownership initially offered to now provide for fully owned units, townhomes and single-family homes with a variety of amenities and views. Its location, within Bend's city limits but just off the road to Mt. Bachelor and the high Cascade Lakes, Mt Bachelor Village has offered full time homes, investment opportunities, and vacation homes to owners and renters alike for well over forty years. It continues to be a venue for retreats, weddings, gatherings and conference...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The December, 2023 Bend Premier Newsletter? Bend Home Sales Slow 5-Ingredient Peppermint Bark 7 Simple Steps to Prepare Your Home for Christmas Hike Paulina Falls at Newberry Crater Fall 2023 3 Reasons to Sell Your House Before the New Year Original blog can be read at Bend Premier Real Estate's blog page.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
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 o...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Sales Slow There is a seasonal slow down experienced every fall for Bend real estate sales. When school starts, many would-be Bend home buyers focus on other things. While retirees and second home buyers may be active in early to mid fall, once Thanksgiving comes, the number of Bend real estate sales drop as both buyers and sellers tend to concentrate on holiday activities with home sales secondary to celebrating the season. In 2023, however, the annual slow down for Bend home sales typically seen in November was exceptional. When November of 2023 is compared with November of 2022, Bend single family home sales on less than an acre reflect the following: Average sales price up 3.5% to $859,650* Median sales price up 1% to $702,750 New listings down 26.1% to 82 Homes for sale ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The November, 2023 Bend Premier Newsletter? Bend Real Estate Sales Lacking Listings Brussel Sprout Slaw with Apples and Pecans 10 Tips to Help You Prepare for Thanksgiving Hike to Broken Top From Todd Lake The Benefits of Buying a Multi-Generational Home Original post can be read at Bend Premier Real Estate's website.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Real Estate Sales Lacking Listings The October 2023 figures for Bend single family home sales have been produced and lack of inventory appears to be a consistent problem. Inventory levels have dropped year over year as have pending sales and sold homes. Despite a rise in new listings, the overall Bend real estate market reflects an anemic number of sales with prices remaining high and high interest rates greatly impacting the buying power of would-be purchasers.  When October of 2023 is compared with October of 2022, Bend single family home sales show the following changes: Average sales price down 3% to $795,928* Median sales price up 7.6% to $731,500 New listings up 6.9% to 140 Homes for sale down 33.1% to 297 Pending sales down 8.9% to 102 Sold homes down 21% to 128 Aver...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
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 ra...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
We have hiked to Green Lakes multiple times. However, fewer hike this popular trail when the weather turns cold and cloudy. Our experience hiking to Green Lakes on 10-14-23 was the first we had this year. The trail passes to Green Lakes are so hard to get that if you are 30 seconds past 7 am on the US Forest Service website, you will be too late. Despite trying weekly all year, last Saturday, the last weekend of the year where passes are required, we finally obtained two.  The weather was cloudy and cool, and during our hike the expected "ring of fire" eclipse occurred, resulting in a drop in temperature and a darker sky. However, after that event, the rest of our hike up to Green Lakes was uneventful, outside of hitting more and more snow the higher we climbed. At the second log bridg...
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