April Showers . . .
April Showers . . .
Whatever the old adage, April was April . . . a high in Bend of 84 degrees, a low of 27. Wonderful spring skiing
interspersed with some bonus blower powder mornings at Mt. Bachelor.
The Deschutes River beckoned, and the golf courses seemed to get the hint too . . . greening up in preparation for the invasion of the masses. Sometimes it was even difficult to remember what season it was. No wonder everybody wants to live in Bend!
Not that any of it really mattered . . . in the immortal words of “The Dude” (no, not me!), “You can go up to Mt. Bachelor, get 3 hours of powder turns in; come down here, get your surf on; then go grab a beer!”
Ah, April in Bend . . . seemed as though all was right with the world.
Real Estate in Bend
The market performed well in April too . . . 190 homes (single family residential on less than an acre) were purchased, another 269 (wow!) were “pended.” Homes sold at an average of 98% of list price at $237 per square foot. Still hurting for inventory . . . just 2.4 months available overall. And the lack of affordable housing only continued to worsen.
Median price took a bit of a hit . . . down to $415,900 after last month’s all-time high. Which reminds me . . . a quick digression . . . and a thanks to all who participated in last month’s quiz.
All in all–a pretty solid month.
(Un)Affordable Bend . . . $224,000
A few words the little cabin–the one with the 18 offers that I wrote about last month . . . it ended up closing in just 14 days at 103% of list price.
Nice to close so quickly, but I wonder if the listing agent has completed all his paperwork yet (responding to each of those offers)?
The most affordable home sold in April was a 3/1, 1050 square footer on a nice .43 acre lot at the end of a cul-de-sac in the Golden Mantle neighborhood, between Brookswood and Highway 97. It went for $213 per square foot.
Judging from the listing photos, the house was a “fixer” (a euphemism maybe for POS). Does look like a nice garage though!
Bend’s Median . . . $415,900
The median price would get you something like this one in Mirada on Bend’s far east side.
Four bedrooms, 2.5 baths, and 2134 square feet. A nice looking home . . . wood laminate flooring, quartz and granite counters, window treatments, and a tiny fenced backyard. Not bad at all for $195 per square foot.
Mirada features a new four acre community park as well as a community pool. Pretty cool.
As always, interesting to see the disparity in median prices between the east and west sides of town . . . for the former, 104 sales with a median price of $373,950 with the most expensive sale being $600,000; for the west side, the median was $552,500 (with an average of $627,000)–OUCH!
Luxury Bend . . .$2,312,500
The luxury market continued to perform well in Bend, driven by non-stop in-migration. Seven homes sold for more than a million dollars, with another 8 topping $900,000.
This year’s record was set by another Tetherow sale at $2,312,500 (or $496/sq. ft.)!
The 3/4.5, 4788 square foot home was built by G. Lock Construction in 2016. It offered the trifecta . . . superb golf, mountain, and lake views from virtually every room.
Notable Bend Sales in April
Three significant sales in Bend . . . a stellar month.
Remarkable Cascade mountain and golf vistas from this Frank Ring custom home in Eagle Crest. 4/3.5, 4033 squar feet at $555,000.
A great home in The Parks . . . 3/2.5, 2439 square feet. A full price offer in just three days . . . $589,000 (or $251/ft.).
Another wonderful home in The Parks . . . 4/3.5, 2653 square feet . . . $650,000 ($243/ft.)
Looking Ahead
Not hard to see into the crystal ball as we roll towards summer . . . more homes hitting the market, more sales, more people, more price escalation. Like I said before, everybody wants to live in Bend . . . we’re very lucky to do so!