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 Riv...

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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 bridge we put on our microspikes for safety against slippery conditions and the rest of the hike was fine. We had to do some postholing once we reached the first lake, but it was well worth the effort to travel to the far side which fewer people travel to, but is among our favorite spots due to the beautiful views of South Sister which can be mirrored in the lake. We also trekked a bit up the east side of the largest Green Lake, but decided against going further and returned back after enjoying lunch and the views.

On our hike back to the trailhead, we met a good number of hikers coming up in the later afternoon.  Our morning experience was solitary with no one visible during our hour at the lake.

There are More Bend Luxury 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 significanty 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.

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Kerry Knouse has joined Bend Premier as a Principal Broker.  Kerry brings over 10 years of experience representing buyers and sellers. Kerry had a long career in construction prior to becoming a real estate agent and really understands the Central Oregon market, including its varied neighborhoods and communities. Bend Premier is pleased he has joined us. To read more about Kerry, click on Kerry's website.

What's in the October, 2023 Bend Premier Newsletter?

• Bend Home Sales Down While Rate of Price Increase Drops
• Butternut Squash Soup
• Beginning with Pre-Approval
• Hike Pamelia Lake to Grizzly Mountain
• Explaining Today's Low Housing Supply