Posts with tag 'Bend Luxury Homes'

Bend Real Estate Inventory is Way Up

The real estate trends for Bend single family homes are reflecting a changing market. Sales are dependent upon a mortgage interest rate that works for the majority of home buyers, but also upon available homes from which to choose. February 2025 saw a shift in both categories with a large increase in home inventory as well as a more moderate reduction in mortgage interest rates. Buyers are finding many more homes on the market that may meet their search criteria. Sellers are finding that in order to make their home stand ou...

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What Happened With Bend Luxury Homes in 2024?

2024 was a year that reflected changes for Bend Oregon real estate. The high end luxury home market had more listings and more activity in 2024 compared with 2023. In particular, homes listed in all categories over $1,000,000 had strong sales with the only exception in the $1,300,000 to $1,599,999 category in which there was a 14.4% decrease in home sales. In this same category, days on market were up over 113% with an increase of 85% in months of supply (up to over 5 months). Based on an earlier 2024 review of the Bend luxury market, it was determined that many listings taken in this price point required pri...

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More Bend Home Inventory and Moderate Price Increases Were the Norm for 2024 Sales

2024 Bend home sales experienced modest price increases for the year, but Bend home buyers were fortunate to have more options. Sellers who had hesitated putting their property on the market during Covid and following when mortgage interest rates were close to 8% finally had more inclination to do so when mortgage rates dropped to the mid 6% range during the summer of 2024. Delayed moves which were offset by high mortgage rates for a subsequent purchase finally made sense when rates dropped. Although there was an increase in home prices and sales for Bend single family homes, it was modest. With more in...

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More Inventory Means More Choices for Bend Home Buyers

There are more homes on the market for potential Bend home buyers to choose from than there were at the same time last year. With more inventory, there has been more motivation for sellers to negotiate price and terms with buyers. This in turn has resulted in homes selling for less than asking price, often after price reductions, in order to generate offers. While the overall sales price is up slightly over the same time last year, the months of supply is up over 11%.

When the data from November 2024 for Bend single family home sales on less than an acre is compared with those from November 2023, the following changes can be seen:

• Average sales price up 4.1% to $888,821
• Median sales price up 2.6% to $711,875

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Bend Home Prices Up In October

The trend seen over the past four months changed in October when year over year Bend home prices rose rather than fell. Both average and median Bend single family home sales prices were up, perhaps a reflection of lower interest rates seen in September which enabled more home buyers to purchase higher priced homes or an unusual anomaly which was reflected with a large number of million dollar plus homes (over 35% of total home sales) closing. Typically in the fall,

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