Subscribe and receive email notifications of new blog posts.
RSS Feed
19
Deschutes Riverwoods 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 there 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 rates. Deschutes Riverwoods has long been a favored subdivision for first time homebuyers, and the buying power of most initial homebuyers has been greatly impacted with mortgage interest rates approaching 8%.
The Number of Homes for Sale and Sold in Deschutes Riverwoods Decreasing
There has been a more than 60% drop in new listings in Deschutes Riverwoods over the past twelve months. Homeowners with great interest rates are not selling, despite significant demand. Why sell and give up a 3% financed mortgage to replace it with 8%?
Tied in with new listings are homes sold. These are down 61.5% over the past year. And until such time that Deschutes Riverwoods home sellers see value in moving, we predict limited listings and limited sales will continue.
Privacy Policy / DMCA Notice / ADA Accessibility
