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New arrivals continue to fuel the Bend market, driving prices higher; there is no apparent end in sight.

As always, purpose of this quirky newsletter is to provide some "rich neighborhood and hyper-local content" that can't be found on the national portals (Zillow, Trulia, etc.). It's intended to be fun, easily digestible, friendly, and perhaps slightly irreverent; certainly unlike any other Realtor's newsletter you'll receive.  Feel free to  to pass it on to friends.

Again, a little late this month . . . and again, unfortunately, no exotic excuse (ie. fun) for the lateness; we've just been busy counting the new arrivals.

Bend’s Population Hits 91,122

Bend’s Population Hits 91,122

Say it ain’t so! Despite our best efforts (Bend Sucks . . . Don’t Move Here!), Bend’s population topped 90,000 in May. Of course, I’m joking about our “best efforts” . . . our livelihood is dependent on growth and new arrivals.

Still, the roundabouts seem a bit hectic. A little different than 2011 . . . check out this ditty making the local rounds then.

Bend Real Estate

The non-stop in-migration seems to be the driving force for our current hot market; a market that continued to perform well in May (see “Significant Sales” below). As expected, we once again topped the benchmark 200 sale plateau (218); another 249 homes went pending.

May 2017 sales

The median price dropped a wee bit to $379,000; interestingly (or not), that shakes out to $555,000 (ouch!) for the west side of town, and  $344,450 for the east. Despite the fact that new listings increased by more than 16% from last month (425 to 493), available inventory stood at just 2.3 months overall. Ah, to be a seller right now!

Affordable housing? I don’t want to talk about it.

Significant Sales in Bend

A good month . . . but, again, the primary thing notable about these sales is that we made them.

A hipster’s townhome just a hop, skip, and a big jump from the Old Mill District . . . a classic Lee Iverson design, 2 bedrooms, 2.5 baths, 1429 square feet . . . $339,000.

Townhome in the Old Mill; listed by Sandy Kohlmoos

A wonderful home on one of Bend’s most sought after streets; 5 bedrooms, 3.5 baths, 3271 square feet; multiple offers above list price. Sold at $920,000.

Multiple offers, all over lsit price in Bend

A great community, some sketchy neighbors (us!), and backing to the park at Tetherow. 4/3.5, 3230 square feet . . . $715,000.

A nice community, sketchy neighbors!

A unique home, nestled in the pines at Mountain High. Four bedrooms, three baths, 2817 square feet at $499,900.

Sandy Kohlmoos sold this home nestled in the pines at Mountain High

While totally off topic, we also enjoyed some rather “notable” spring riding/skiing in May at Mt. Bachelor; finally concluding a most excellent season on Memorial Day with the pond skimming event and a bit of cold beer!

Bend's population hits 91,122

Bargain Bend

Bend’s bargain in May was a “classic” midtown single level built in 1965.

Gas chamber green; a bargain at $215,000 in Bend

Two bedroom, and one bath, all of 864 square feet,  a sort of gas chamber green in color, it sold for $215,000 or $285 per square foot.

A landscaped yard?

It did feature kind of a  landscaped, fenced back yard.

Bend’s Median Price . . . $379,000

Bend’s median priced home in May might look like this 4/3, 1972 square footer, located just above the Old Mill.

Median price in Bend . . . $379,000

Pretty cool stuff . . . granite counters, stainless appliances, gourmet kitchen, blah,blah, blah. It sold for $192 per square foot.

Bend's population hits 92,122

Luxury Bend . . . $1,451,640

One of four homes in Bend (single family residential on less than an acre) that sold for a million dollars or more, the big winner was a new three bedroom, 4.5 bath, single level in Tetherow’s Tartan Druim (strange name, nice homes) neighborhood.

Tartan Druim . . . funky name, nice home at Tetherow

The home, perched on a ridge above the fifth fairway of the David Kidd-designed track, featured an open plan with stellar views.

Tsartan Druim kitchen at Tetherow

It featured a three car garage and a sharp casita. It sold for $409 per square foot.

Another Bubble?

With the continued escalation of prices, there has been frequent talk of another “bubble.” I think not!

Our previous problems were largely the fault of some rather loose lending practices. It didn’t take much to qualify for a loan. Today our market is driven by in-migration. Even though our median price hit an all-time high a couple of months ago, to many of our new arrivals, Bend is a great place to live and a remarkable bargain.

Here’s where they are coming from (to the tune of 7 per day) . . . check out those median prices!

arrivals

For a more in depth, analytical look at the “bubble” issue, check out this link courtesy of Bill Valentine. It’s an interesting read.

What Bubble?


If you or a friend are thinking of buying or selling a home in Bend, we'd love to chat with you. As an aside, thanks for all the kind words regarding the style and content of this humble newsletter.
 
Curious about the value of your home? Give us a call for a free market valuation.

www.bestbendhomes.com

541-480-8131

Here's a bit of biographical info on Sandy and John:

-About Sandy

-About John

Sunset SUP at Drake Park (nope, it's not me) courtesy of Visit Bend and Joey Kansky

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Sandy and John Kohlmoos
Brokers
Cascade Sotheby's International Realty
650 SW Bond St.
Suite 100
Bend, OR 97702

 541-408-4309
 
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