An All-Time High . . . $685,000

Bend’s impatient wait for snow at Mt. Bachelor in November was superseded by the huge bump in our real estate market’s median price . . . up to $685,000. That’s a remarkable jump of $40,000 over last month’s figure. While the high end of the market continued to be super strong (41 sales over one million dollars), the real reason for the increase seemed to be the dearth of sales in the $550,000 to $600,000 range. Sort of scary!

Sales volume stayed high (for November) at 204. Inventory continued to be problematic; still less than a month’s supply available overall. We’re still a long way from a “Buyer’s Market.”

Low End Bend . . . $200,000

Not too sure about this one . . . but, at $200,000, what is there to say? According to the listing agent (always a great source for unbiased commentary!), this home presented “a great investment opportunity.”

Located in an “opportunity zone,” and zoned “RM,” the house consisted of one bedroom, a bath, and a total of 480 square feet of living space. Aside from the cursory description, we have no idea what the interior looked like.

The .08 (3484 square feet) acre lot also featured a detached storage shed (contents unknown) and a nice big tree.

This mystery home, with an up and coming central location, was listed at $224,900 and closed at $200,000 (or $417/square foot).

Bend’s Median . . . $685,000

I don’t know when it’s gong to stop! Just a few months ago, a median price of $685,000 seemed unfathomable. But here we are.

For that price, one could have maybe picked up something like this three bedroom, three bath, 2154 square foot home on Bend’s west side on the road to Mt. Bachelor.

The house was built by Greg Welch Construction in 2016. It featured hardwood throughout, vaulted ceiling in the great room (complete with gas fireplace). The main level office was a selling point for work at home warriors. All bedrooms were up.

The home was listed at $699,000 and sold at $318 per foot.

And, no, median price for homes on the west side hasn’t yet reached one million; but, it’s getting close.

West side  $950,000

East side  $593,000

Luxury Bend . . .  $2,850,000

Sometimes, I wonder why I write this drivel (maybe some of you wonder the same thing) . . . it seems like the luxury answer is the same every month–Tetherow! Month after month, it’s the same . . . and, actually, in November, the four most expensive sales were all from that community.

The big winner was a four bedroom, five bath, 4348 square foot beauty in the Tartan Druim neighborhood. The home was listed at three million, but sold for a paltry $2,850,000 (at $655 per foot).

It went pending in just 3 days!

Auspicious Sales

Just one notable sale this month . . . a well-cared for Craftsman in the midst of it all in NorthWest Crossing.

Three bedrooms, two baths, 1586 square feet. Listed at $850,000, the home went pending in just 5 days and closed at $906,000 ($571 per foot).

Looking Ahead

I think this month we’ll dismiss the trends and forego the prognostications (next month!) and instead focus on our families, the holidays ahead, the hope for the future, and the stuff that makes us happy. MERRY CHRISTMAS and a HAPPY AND PROSPEROUS NEW YEAR!