Bend OR Single Family Home Prices Have Grown Over the past 8 years, the sales price of a Bend single family home has grown by 129%. The average sales price at the end of 2010 was $223,000 and $510,000 the end of 2018. During the same time period, the average active price of a Bend single family home has gone up 91% from $373,000 in 2010 to $711,000 the end of 2018.* This growth in the price of a Bend home has led to an affordable housing crisis with the average Bend family questioning whether or not they can afford to purchase a single family home in Bend; for many the answer is no. How Much Home Can a Bend Oregon Family Purchase in 2019? According to Deschutes County records, the median annual Bend household income in 2018 was $67,727. Chris Raven with Fairway Mortgage has told us that... 02/27/2019

Bend Or Home Sales Showing a Decline in Early 2019 Those of us involved with day to day real estate sales have "felt" a change in the market for several months. Bend home prices which have been rising for the last several years have continued to grow, but sales have been flattening. Buyers which were so ready to purchase have developed a "wait and see" attitude and the homes which were so quick to sell not long ago are taking much longer. If the sales data for Bend Oregon single family residential homes from January 2019 is compared with January 2018, the following changes can be noted: Homes for sale down 4% to 382 Homes sold down 12.6% to 125 Homes pended down 27.6% to 144 The average price per square foot is up 7.5% to $245 The average days of market is up 5.8% to 127 The sold/origin... 02/15/2019

 At a recent lunch meeting, the Bend Premier Real Estate top producers for 2018 were announced. All Bend Premier Brokers contributed to the success of the brokerage in 2018, but special recognition was given to those in various categories: #1 Top Producer Dana Furlan #1 Top Team - Pattie Serbus #1 Top Individual Sale - Jen Chapman & Robert Curzon #1 Rising Star - Danielle Gates Recognition was also given to the top 10 in total sales: Sherry Ortega Cate Cushman Jacque Martini Roberts Kathy Hovermale Rob Lindberg Tina Roberts Laura Curry Eric Andrews Liz Shatterly & Elizabeth Ueland (tie) Brokers who offered additional, unique contributions were also recognized: Tenacity Award (most difficult sale)  - Sheila Crew Relentless Agent Award (consistent sales) - Debbie Walsh Most Unique Marketi... 02/01/2019

Is the Bend Oregon Real Estate Market Overpriced? The figures are out and the trends we have been following over the past year were again seen in the December 2018 Bend residential real estate sales figures. December 2018 saw a dramatic reduction in Bend home sales on less than an acre compared with December 2017: Numbers of homes for sale down 10.4% to 396 Numbers of homes sold down 15.9% to 159 Numbers of homes pended down 14.4% to 131 Average price per square foot on sold homes up 3.8% to $244 Sold price to original listing price difference down 2.1% to 95% Average days of market up 2.8% to 111 Months of inventory up 8.6% to 2.5 (based on closed sales) Average active price up 5.6% to $701,000 Average sold price up 14.3% to $521,000** The figures for active listings are extraordinary.... 01/11/2019

Bend OR Luxury Homes Sales Rise in 2018 The Bend high end real estate market grew considerably in 2018.  Million dollar homes, including those built for speculation, have sold at larger numbers than those in 2017 with the greatest percentage increase in the $1,300,000 to $1,699,999 range (up 42.9%). ** For available inventory, the numbers of homes in the $2,300,000 and up range grew by the largest percentage with 50% more properties available in 2018 than in 2017. The months of supply fell in all categories except the highest where the inventory levels are now at 17.2 months (up from 10.9 months in 2017). Pending sales are also up with the greatest percentage increase in the $1,300,000 to $1,699,999 category with an increase of 63.9%  There are 59 homes pending which were listed in this... 01/07/2019

Bend Oregon Commercial Real Estate Impacted by Lack of Inventory Historically, our local commercial real estate market trends above the national averages. Our Central Oregon area commands very aggressive CAP rates due to supply and demand; when you put a magnifying glass to our market, we have very little Industrial property For Sale/For Lease and it would appear that the Urban Growth Boundary expansion recently passed will not solve this immediate problem. Our local market in most cases this year has positive absorption rates for office and retail as well.  What’s Up on the National Front? Our local commercial real estate market trends about a year behind what we experience in the residential market. This is consistently true and while residential real estate sales experienced a sudden... 12/14/2018

Bend Oregon Real Estate Trends Mixed in November   The data has been published and Bend single family home trends show mixed results for November. When Bend home sales from November, 2018 are compared with the sales from November, 2017, the following changes can be seen: Homes for sale down 7.3% to 456 Homes sold down 16.7% to 170 Homes pended up 4.1% to 153 Average price per sq ft up 6.6% to $243 Average days on market up 9.6% to 114 Average active price up .9% to $663,000 Average sold price up 11.7% to $516,000 Median sold price up 11% to $433,000 Months of inventory up 12.4% to 2.7* Why are Bend Oregon Home Sales Slowing? Closings were down significantly in November which can be contributed to the softening Bend home sales seen earlier in the year; days on market and months of invent... 12/06/2018

Bend Home Sales Show Mixed Trends We have noted for the last few months that residential home sales trends in Bend have been changing.  The figures for October, 2018 reflect this change in a manner that we have not seen for some time.  While prices continue to rise, sales have dropped off significantly. The following data compares Bend single family home sales in October 2018 with those from October 2017: Homes for sale down 12.9% to 505 Homes sold down 5.2% to 221 Homes pended down 16.1% to 188 Average price per square foot up 7.7% to $252 Average days on market down 1% to 104 Sold/Original listing price differential down 2.1% to 95% Average active price up .9% to $641,000 Average sold price up 9.3% to $516,000 Median sold price up 6.5% to $433,000 Months of inventory based on closed s... 11/06/2018

Bend Oregon Single Family Home Sales Are Slowing We wrote a blog a few weeks ago in which we noted that it appeared that Bend Oregon single family home sales were slowing when compared with the year before. This blog, "Is the Central Oregon Real Estate Market Slowing Down?"  looked at inventory levels and showed that there was an uptick in the number of single family homes in Bend, Redmond and Sunriver for sale from the same 12 month period the year before. The September statistics have now been published for Bend home sales and it appears that the slowing trend is continuing. When September 2018 Bend single family home sales on less than an acre are compared with September 2017, the following change can be seen: Homes for sale down 5.8% to 596 Homes sold down 6.2% to 195 Homes pended d... 10/08/2018

Why Are People Moving to Bend OR - is it the Lifestyle or the Jobs? In an article published 10-1-18, thrillist.com has ranked the top 25 American cities for local economic growth. According to WalletHub, the financial advice site, they compared 515 cities of various population sizes using 15 key data points such as working-age population growth, job growth, poverty rate decrease, median housing price growth and building permit growth. According to this analysis, Bend Oregon ranks 4th in the country. Does Poverty With a View Still Pertain to Bend Oregon? We know Bend is booming, but having a strong economy contributes to a vibrant community such as what Bend has experienced since coming out of the recession. People moved here traditionally for the lifestyle - Bend was often called "pover... 10/04/2018

Bend Oregon Single Family Home Prices Still Rising   The figures from August, 2018 Bend real estate sales are published and the price of a Bend single family home continues to go up. While the trend upward in the asking price of a Bend home appears to be leveling off, the sold price is still rising with the average price per square foot now at $255.  The following data compares August 2017 sales of Bend single family homes on land under an acre with those from 2018: Number of active homes for sale down 6.4% to 619* Number of homes sold slightly up .8% to 255 Number of homes pended up 8.7% to 238 Months of inventory based on closed sales down 7.7% to 2.4 Average days on market down 11.8% to 90 Average price per square foot up 5.8% to $255 (was $241 August 2017) Average active price up 3.... 09/08/2018

Bend Oregon Homes for Sale Vs Sold   Home values in Bend have changed considerably since coming out of the great recession. What was unheard of in 2011 has become common with Bend million dollar homes selling regularly and contractors willing to build spec homes at this price point. Bend home sales have been impacted by lack of inventory for many years, but with the rise in Bend home values, many of the lower end buyers have been priced out of the Bend market and have instead purchased in outlying areas. We are seeing a transition in the Bend real estate market and a slight increase in inventory.  The following graphs show twelve months of sales/new listings in 4 different price ranges for Bend single family homes over the past 3 years:   Bend Real Estate Prices Trending Up As the chart... 09/05/2018

Bend Oktoberfest September 21-22, 2018One of Bend's most unique fall festivals is Bend Oktoberfest celebrated in the middle of September. Besides being the main fundraiser for Downtown Bend, Bend Oktoberfest offers "great beer, delicious food, silly games and feats of strength."  Starting Friday, September 21 at 3:00 pm, the festival will include the Stein Hold Competition, the Chicken Hat Hunt, the Bend Beer Choir, the Tricycle Races and the most popular event - the Weiner Dog Race. There will be something for every Central Oregonian to enjoy!Bend Premier Real Estate is pleased to be the Title Sponsor for Bend Oktoberfest this year. Having our main office in Downtown Bend, it is a perfect fit for us as we support fully the fundraising efforts for the Downtown Bend Business Association.... 08/28/2018

Bend OR's Luxury Home Sales Trending UpAs the American economy continues to improve and citizens have more confidence and money to spend on housing, the value of real estate has grown across the country.  Bend is no exception. Bend's average home price has grown by roughly 10% per year since coming out of the great recession, greatly due to the demand on housing coming from new residents moving to Central Oregon in large numbers. For many of these new transplants, the real estate market in their original city is greatly inflated and home values way beyond those of Bend. When they sell, they can often pocket a large amount of cash from the equity in their home. This in turn has driven up housing costs within the city as these new Bend residents can afford to purchase property which is be... 08/16/2018

Are Bend OR Home Sales Leveling Off? The July 2018 figures are out and there has been a change in the sales trends for Bend single family homes. Since coming out of the great recession, home sales in Bend have been strong with pended and sold trends consistently higher than those from the year before.  While the average price per square foot continues to rise, the actual numbers of homes sold and pended are down.  When July 2018 is compared with July 2017, the following data can be noted for Bend single family homes on less than an acre: Homes for sale down 2.9% to 643 Homes sold down 6% to 233 Homes pended down 4.3% to 222 Average active price up .6% to $654,000 Average sold price up 5.5% to $502,000 Months of inventory based on closed sales up 3.7% to 2.8 Average price per square foot... 08/07/2018

Bend OR Residents Float the Deschutes River When the summer temperatures soar, Bend residents relax in the water. Whether it is driving up to the Cascade Lakes and enjoying windsurfing at Elk Lake, paddling in a kayak on Todd Lake or water skiing and house boating on Lake Billy Chinook, Central Oregonians enjoy the water during the summer months. One of the recent additions to the water recreational opportunities in Bend is floating the Deschutes River. Unheard of 10 years ago, during warm summer days thousands of people enjoy floating through Bend's Old Mill District from Farewell Bend Park, past the surfers at the Whitewater Park and ending up at Drake Park at Mirror Pond.  Almost as fun as floating the river is sitting on the deck of one of the restaurants in the Old Mill sipping a c... 07/31/2018

Balloons Over Bend is a Fabulous Bend OR Festival There are few more stunning sights than watching beautiful hot air balloons floating into the sky with the backdrop of the Central Oregon Cascades at sunrise. Starting this Friday, the annual Balloons Over Bend festival will run through Sunday offering exciting sunrise launches of the balloons, the Night Glow event Friday evening many fun activities for the whole family on Saturday. The schedule includes the following: Friday July 27, 2018 Balloon Launch at Sunrise at RE Jewell Elementary School Night Glow begins at 5pm at Riverbend Park Saturday July 28, 2018 Balloon Launch at Sunrise at RE Jewell Elementary School Children’s Festival from 10am-4pm at the Deschutes Historical Museum Balloon Blast Kid’s Race at 12pm at Troy Field Balloon... 07/24/2018

Bend Single Family Home Prices Reach New HeightsThe price of a Bend Single family home has grown to a level never seen before. The number of homes sold under $500,000 has significantly lessened over the last 3 years while those over $1,000,000 have tremendously grown; between 2017 and 2018, the number of sold Bend homes on less than an acre over $1,000,000 have gone up 88.5%. While the overall number of Bend homes sold have not grown that much, the change between the lower and upper end in price is great and those Bend residents who have lived in the community more than just a few years can be amazed at the selling prices of Bend Homes. Bend OR Single Family Home Inventory Levels Remain LowWhile Bend home prices are on the uptick, inventory levels remain quite low with even million doll... 07/20/2018

Oregon High Desert Classics July 18 - July 29 The Oregon High Desert Classics, the major fundraiser for J Bar J Boys Ranch, starts today and runs for the next two weeks. The event brings in over 600 horses and 3000 professionals and amateur competitors from all over North America. The show provides for premier hunter/jumper competitions and includes two $25,000 Grand Prix's, National and International US HJA Hunter Derbies and other fun events. The Classics are held on the 40 acre J Bar J Ranch and offers vistas of the snow capped Cascades and six grass rings, four schooling rings, onsite barns, specials events and vendors. There is no cost for attendees to watch the events. The Oregon High Desert Classics provides funds for J Bar J Youth Services, a nonprofit organization that offers p... 07/18/2018

Bend Oregon Real Estate Prices Still Going Up The June 2018 data is out and the upward trends for Bend OR real estate sales continue. When June 2018 is compared with June 2017, the following can be noted with Bend single family home sales on less than an acre: The number of homes for sale are up 1.5% to 607 The number of homes sold is up 2.4% to 259 The number of homes pended is up 10.8% to 256 The months of inventory based on closed sales is down to 2.3 The days on market is down 1.1% to 89 The sold/original listing price difference is up 1% to 99% The average price per square foot sold is up 6.9% to $249 The average active price is up .05% to $659,000 The average sold price is up 8% to $522,000* For this last figure, we commented last month how the average sold price for a Bend home w... 07/09/2018