April Showers

Seems like every post begins with a little chat about the weather. Just what is it about Bend’s early season hostile weather? We got buried in February; we were frozen in March; and now, this past April . . . the second wettest month on record!

Why on earth would anyone want to live here? (Obviously, I’m being facetious)

The Bend Market

After pretty dismal results in the previous two months, the Bend real estate market saw signs of life in April . . . we saw 177 sales (single family residential on less than an acre) and a whopping 252 homes pended–boding well for the months ahead.

Our median price hit another all-time high at $462,900 (ugh!). Inventory was still in short supply . . . just 2.2 months available overall; also, a “seller’s market” across all price points.

Luxury Bend . . . $3,925,000

An amazing story this one! A five bedroom, 5.5 bath, mammoth 7538 square foot edifice in Broken Top, this one languished on the market for 727 days before selling. It was originally priced at $15,000,000 (maybe one of the reasons it didn’t sell!), or a cool $2000 per square foot, before being reduced to $4.6M  . . . such a deal!

It finally sold at $3,925,000 making it the most expensive home sold in at least the last five years.

On a more personal level, over the years, I’ve hit a lot of golf balls into the back yard of this house (I was always afraid to go look for them!) . . . forever wondering who/what lived there. Now I know . . . five luxury suites, nine (count ’em!) fireplaces, a gymnasium, a spooky spa-inspired pool, a guest house, lots of statues, and a heated driveway!

Even the photos are a little eerie.

Median Price in Bend . . . $462,900

Another all-time high! Those Californians just keep on arriving (driving our prices ever upward)!

For that price in Bend, one could hope to find something like this new construction in popular Hidden Hills on the SE side. 3/2, and 1640 square feet; built by JD Neel Construction.

Doesn’t look too exciting, though the community is certainly flourishing!

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

East side    $389,443

West side  $645,750

That east side is starting to look pretty attractive!

Affordable Bend . . . $280,000

More than a little scary to look at the monthly tally and see that there were only eight homes that sold for less than $300,000. Going back just five years, there were 108 (and the median price was just $280,000). My, but times have changed!

Last month’s loss leader was a single level (3 bedrooms, 2 baths, 1232 square feet) on a large corner lot, with fenced back yard. It offered some decent upgrades . . . new septic tank, heat pump, water heater, range, oven, and wood stove.

It closed in just 46 days at $227 per square foot.

Looking Ahead

The crystal ball is a little easier to read this month, thanks in part to all those pending sales. Bend is beautiful in the spring . . . things are green and flowers are blooming; one of these days the sun will come out too.

Prices will continue to creep up, there will be more traffic in town, and we’ll finally start to see more available inventory (as evidenced by just a few of our great new listings below). Simply click on the photos for more detailed info.

18355 Pinehurst . . .3/3.5, 4330 square feet, 5.23 acres . . . $2,100,000

15081 SW Twelve Elk Ct . . . 3/4, 4817 square feet . . . $1,250,000

3493 NW Bryce Canyon . . . 5/5.5, 4813 square feet . . . $1,730,000

19980 JW Brown . . . 5/4.5, 5328 square feet, 18.75 acres . . . $1,799,000

Call or text Sandy (541-408-4309) for more detail or to set up a showing of any of these beautiful homes.