"Everybody Wants To Live In Bend
“Everybody wants to live in Bend” . . . yep, sure felt like it in December! Magnificent snow conditions
brought what seemed like unprecedented crowds to Bend. The result–snaking lines at the check out counters at Safeway, the inability to get a frosty IPA at my local pub, backups at the roundabouts, sizable waits (and reservations!) at most restaurants, and a very slow parade of cars to Mt. Bachelor each morning. Don’t get me wrong; I’m not whining . . . December also brought an excellent conclusion to a stellar year for Bend real estate.
Overview Of Bend Real Estate
We saw the purchase of 213 homes (single family residential on an acre or less) or a bump of 39% from November. That’s a very robust number given the season and when compared with previous years.
Only 4% of those sales were distressed properties. If it makes you feel better, check out this post from December 2010, when 66% of sales were either bank-owned or short sales.
Inventory levels remained almost scary low . . . just 2.1 months overall (only 433 available homes). Might be a great time to list!
High End Bend . . . $2,100,000
The only home this year selling for more than two million, a magnificent Tuscan retreat backing to the driving range at Pronghorn.
Four bedrooms, four and a half baths, and 5118 square feet; only the finest materials–English oak, Texas mesquite cowboy hickory (not sure what that is either), Venetian plaster, Telluride gold stone. Almost like a geography lesson!
The home, which sold for $410/square foot, also offered the requisite gourmet kitchen, wine cellar, and private casita.
Bend’s Median Price . . . $325,000
Bend’s median price stayed steady, hovering around the $325,000 mark. For that amount, one could expect to find a home like this 3/2, 1488 square single level on a .35 acre lot on Bend’s southwest side.
Set on a corner lot amidst the tall ponderosas, close to shopping and schools, the home featured an open plan with new paint, carpet, and hardwood. It sold for $218 per square foot.
A Home In Bend For Under $200,000
What more to be said . . . wow! Two bedrooms and one bath, 984 square feet. A “cutie” (not my word!) of a house with a largish, fenced back yard. Ideal for the baseball aficionado . . . located close to Vince Genna Stadium.
It sold for $191/square foot in 84 days.
Notable Sales For December
As always, these were “notable” because we made the sales.
A stunning Artisian Homes custom in Broken Top at $1,225,000.
A great family home, also in Broken Top at $800,000.
A private single level in Awbrey Glen at $565,000
The perfect cottage (picket fence and all!) in the heart of Bend at $365,000
An outstanding investment/rental in SE Bend at $265,000.
A great way to finish the year!
What Lies Ahead For Bend Real Estate?
Getting the old crystal ball out; what do we see?
- Slightly escalating prices
- Higher interest rates (if the stock market recovers)
- Continued in-migration to Bend
- More millennials entering the market
- A bit of a slowdown in the early months of 2016
Enjoy a healthy, happy, and prosperous New Year!
