Posts with tag 'bend real estate trends'
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Bend Premier Real Estate | December 2022 Newsletter
What's in the December 2022 Newsletter?
- Bend Real Estate Market in Transition
- Chasing Frozen Waterfalls
- 'Tis the Season for Eating
- A Place to Revisit Downtown
- Winter Home Selling Checklist
7
Bend Oregon Real Estate | November 2022 Trends
Bend Real Estate Market in Transition
Ask any Bend Premier Real Estate broker about the local housing market and they will tell you that it is changing. After the initial few weeks of the Covid-19 pandemic, real estate sales across the nation accelerated beyond any seen before. Lack of inventory coupled with low interest rates led to multiple-offers, tremendous buyer demand and rising home prices; between March of 2020 and March of 2022, the average price of a Bend single family home on less than an acre increased 67%. This rate of increase was not sustainable. When
21
If Only I had Bought my Bend Home Six Months Ago
High Interest Rates Impacting the Buying Power of Bend Homebuyers
Although the 30 year interest rate has moderated a bit from its high of 7.08% hit November 10, 2022, the rapid increase in mortgage interest rates we have seen since the beginning of 2022 has greatly impacted our buyer's purchasing power. Many buyers are regretting that they didn't buy several months ago before rates rose to the levels they are now. But is it really cheaper to buy a Bend home today than it was six months ago? Let's look at the true difference between these two markets and see what the numbers actually say.
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In April, we were still living under high demand for Bend homes and a $500,000 property hitting the market would often generate
9
Bend Premier Real Estate | November 2022 Newsletter
What's in the November 2022 Newsletter?
- There are Many Questions with Bend Home Sales
- Green Lakes in the Fall
- Home for the Holidays - Thanksgiving
- Bend's Next Best Taco?
- Homeownership Wins Over Time
7
Bend Oregon Real Estate | October 2022 Trends
There are a lot of Questions with Bend Home Sales
As we published last month, the Bend real estate market is in transition. The steep rise in mortgage rates and continued home price increase has impacted Bend homebuyers to the point where home sales have slowed beyond normal seasonal levels. It is as if the brakes have been hit and all onboard are bracing for an impact. What that eventual impact will be remains to be seen.
When October, 2022 sales of Bend single family homes are compared with those from October, 2021, the following changes can be noted:
- Average sales price up 6.4% to $823,360*
- Median sales price up 4.4% to $680,000
- Average list price up 17.6% to $934,365
- Median list price up 4.7% to $725,000
- New listings down 23.2% to 129
- Homes for sale up 34.5%...