Posts with tag 'Widgi Creek'
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17
What's Up With Bend Luxury Homes?
Are Bend Luxury Home Prices Stabilizing?
It has been a while since we have done a careful analysis of the high end Bend home market. Overall, the Bend real estate market has seen growth in inventory levels along with high mortgage interest rates and a more normal increase in home prices. The same cannot be said for the luxury market. For
4
Bend Oregon Real Estate | March 2024 Trends
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....
21
What Is Up With Bend Luxury Homes?
Bend High End Home Sales Reflect a Changing Market
It has been awhile since we last reported on Bend luxury home sales. We pulled a report showing year to date activity over the past three years. While Bend home prices in general are back to a small upward trajectory year over year, the numbers of sales are significantly down, as they are in all price points in most of the markets in Central Oregon and across the country. Higher interest rates have changed the buying power of would-be home purchasers, even in the high end, and have also kept many would-be sellers off market. Why sell when the mortgage interest rate many homeowners have is so good? A replacement home, while potentially being better for the current lifestyle of a home seller, may cost more on a monthly basis with the higher interest rate with which they may need to purchase.
When the first six months of high end Bend home sales are compared year over year between 2022 and 2023, the following change...
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