Stormy May

Aside from marking the end of what turned out to be a pretty stellar six month ski season at Mt. Bachelor, the month of May in Bend also featured the 43rd. annual “Pole, Pedal, Paddle”

as well as an event hyperbolically dubbed perhaps “the biggest event ever in the state of Oregon” . . . we’re talking, of course, of Stormy Daniels’s visit to Starz Cabaret on Third Street on May 17. I’ll wisely forego photos at this time (at the behest of my spouse/business partner). Not that I was there, but, you can always hit me up for details . . . contact John.

Bend Real Estate in May

Certainly a tamer topic, but Bend real estate continued its hot pace in May, as expected.

We saw the purchase of 223 homes (single family residential on less than an acre); another 249 went pending. Houses sold for an average of 98% of original list price . . . tough news for bargain hunters. The median price continued to hover around the $415,000 level. And we continued our strong “seller’s market” with just 2.5 months of overall available inventory.

Luxury Bend

While not realizing the phenomenal appreciation of the lower price points, the high end of the market of the Bend market continued to flourish in May. We saw the sale of 10 homes for more than a million dollars. The big winner being a unique 5818 square foot home in Broken Top.

The 3/3.5 home sold for $1.9 M (or $327/square foot).

It featured open beamed ceilings, a gourmet kitchen, travertine floors, and fresh interior paint.

Additional “necessities” included a bar room, a wine cellar, a bitchin’ theater room, and the perfunctory outdoor kitchen overlooking the twelfth fairway of Broken Top’s Weiskopf/Morrish track. As an aside, I’ve hit more than a few balls in that direction.

Interestingly, the home sold just a year ago for $1,782,500; and in 2008, for a whopping $2,225,000. It’s a tough life!

Bend’s Median

Feels like the same photo each month! I suppose it stands to reason that the median-priced home would fit a standard profile; thankfully, this one’s a bit different.

A two bedroom, two bath, single level house in Mountain High. The recently re-modeled home backed to the golf course; it featured wood floors throughout, as well as granite counter tops.

As always, it’s interesting to compare median prices for the two sides of town:

• East side   134 sales  = $366,000
• West side   87 sales  = $596,000

Wow!

Unaffordable Bend . . . The Low End

Really a tough one for first time buyers or folks not coming from higher priced enclaves like the Bay Area, Southern California, or Seattle; Bend is becoming increasingly unaffordable. For comparison sake, one only need go back a few years and look at this post from May of 2010 . . . median price was $189,000 and 58% of sales were “distressed.”

The least expensive home to sell in Bend last month was a 3/2, 1400 square foot, bank-owned property on almost a half acre.

It featured a rather nifty garage and some of the worst marketing photos I’ve ever seen.

It sold for $271,500 or almost $200 per square foot.

Our Listings

I alluded above to the strength of the high end /luxury market in Bend . . . an excellent time to segue and show off some of our remarkable listings. The astute reader can simply click on the individual photos below to see comprehensive info and more photos of each property. As they say in the restaurants . . . enjoy!

A stunning estate sited on 2.8 wonderfully landscaped acres in Sunset View Estates; 3/3.5, 6861 square feet, a seven car garage, offered at $1,975,000.

A beautiful 18.75 acre Tumalo property, featuring the best Cascade mountain views. 5/4.5, 5328 square feet, offered at $1,995,000.

A classic NW Lodge style on 10 acres in The Highlands, just minutes to downtown. 4/5.5, 6637 square feet, offered at $2,575,000.

New construction, private single level nestled in the trees on 10 acres in The Highlands. 3/4, 4576 square feet, offered at $3,375,000.

Call Sandy at 541-408-4309 to tour any of these fine homes.

Looking Ahead

I’ll put it succinctly . . . more of the same!