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Bend, OR Real Estate News

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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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
There Are More Bend High End Homes On The Market The Bend real estate market has been in transition since Covid ended, with the demand for homes remaining strong, but rising mortgage interest rates greatly impacting the buying power of would-be homebuyers.  It has been three months since we last looked at the Bend luxury homes. During this time, there have been changes with fewer new listings, more homes on the market, and fewer sales. All four categories we look at with high end home sales are up significantly with available inventory. We are pushing closer to a neutral market with the highest prices where there is 5 to 6 months of inventory. We are not there yet, but there has been significant change over the past twelve months where higher priced homes are slower to sell. Number Of ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
River's Edge Is An Established Bend Golf Course Community Located on Awbrey Butte's eastern flank, River's Edge Village was originally developed in 1987 along with the River's Edge Hotel and Convention Center and the first nine holes of the golf course.  The second nine holes of the course were built in 1992 and the next 200 homesites platted around this upper location of the development were released for individual purchase, creating a unique subdivision. Subsequent phases of River's Edge have been developed by Pahlisch Homes with the contemporary architecture that is popular in Bend today. The golf course was purchased by the neighborhood in 2022 and is a favored public course. Market Trends For River's Edge Single Family Home Sales Home prices are gradually increasing in River's Edg...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Sales Down While Rate Of Price Increase Drops The Bend real estate market is in transition. With high mortgage interest rates impacting the buying power of potential Bend homebuyers and with sellers who may currently own a home financed under a low mortgage interest rate not listing, low inventory levels are keeping home prices up while the number of sales have dramatically dropped. We are seeing fewer new listings hitting the market, resulting in fewer pending sales and closed transactions. This is beyond the normal slow down that happens in Bend after school starts. This change is being felt nation wide with fewer home sales happening with mortgage rates now approaching 8%. Bend Real Estate Sales Impacted By Rising Interest Rates We compare Bend Home sales year over year in...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Broken Top Is A Recognized Bend Oregon Luxury Subdivision Started in 1993, the Broken Top community and golf club have been one of Bend's premier subdivisions for many decades. Situated in Bend's west side, the private Morrish-Weiskopf designed 18 hole golf course and club have hosted professional and local tournaments and have been member owned for the past few years. Residences in the gated community include custom designed luxury homes on large lots, luxury townhomes, and a handful of vacation rentals which can also be used as year-round dwellings.  Market Trends For Broken Top Single Family Homes Broken Top real estate sales experienced the same pattern that much of Bend did during the Covid-19 pandemic with home prices and demand rising dramatically during 2020-2021, and then leve...
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