February 2021

Bend had normal weather in February, unlike the Snowmegeddon from two years ago. Still, the crowds descended on town . . . the perfect storm–plentiful snow at Mt. Bachelor (120″ for the month),

Presidents’ Week, school holidays. Whew! Not everyone bought homes . . . but it seemed they all wanted to!

The market performed as expected, I guess–only 117 homes sold (the lowest number in two years); not unusual as February is historically the lowest volume month in Bend. Median price remained scary high . . . a little under $600,000. Inventory (single family residential on less than an acre) continued to suck–just .35 months overall (that’s about 10 days worth!). Pending sales were off a bit too–only 96 for the month.

Bargain Bend

Sadly, it seems the days of $300,000 houses are long gone! The least expensive home sold in Bend in February was this “well-maintained home with many possibilities.” Sounds rather ominous to me.

This 2/1, 936 square foot beauty on a commercial lot was listed at $425,000 (gasp!), but sold for $350,000. We haven’t seen a home go for that far under list in quite some time.

The vintage 1920’s house itself offered a fully fenced yard, nice views of Hwy 97/3rd. St., and a spooky 468 square foot unfinished basement. Situated in an up-and-coming section of town, the home offered easy access to many of our local hot spots–Mum’s Tattoo Parlor, Taco Bell, and The Reptile Zone  (not to be confused with Mum’s!).

Sorry, there are no interior photos of the home . . . we’ll have to leave that to our imaginations. It sold for $374 per square foot.

Bend’s Median . . .$590,000

Bend’s median price hung steady at $590,000. For that price, one could expect something like this 3/2, 1495 square foot house in Quail Pines on Bend’s west side.

Some rather interesting marketing remarks (and, no, I didn’t make them up)–“some repairs needed . . . garage door and fireplace are inoperable . . . AC unit not working . . . in need of some exterior paint.” Sounds like a pretty good deal to me!

I guess the strategy worked; the home went pending in just 4 days, and, as is now common in today’s crazy market, sold for $51,000 over list price (at $395/ft.).

My favorite section of this blog: a comparison of the median prices on each side of town.

West side   $882,000

East side    $497,000

As I say every month, that east side is looking pretty good about now!

Luxury Bend . . . $2,175,000

It’s  Awbrey Butte this month! This gorgeous home ran 3881 square feet, four bedrooms, five baths, with stunning Cascade views.

On the main level, high ceilings and majestic wood beams.

An open plan with all the cool stuff we normally rave about–a large stone fireplace, a wonderful kitchen with hefty center island,

granite countertops, a breakfast bar, a slick pantry, and a large airy master with sexy bath.

The lower level supplied the necessities (in no particular order)– a wet bar, wine cellar, three bedrooms and three full baths.

The home, with a heated driveway, also went pending in just 4 days (the new normal!) at $560 per foot.

Auspicious Sales

I guess a bit of a misnomer, not really auspicious sales; instead, feeling very fortunate to have had such an auspicious year.

A special thanks to all our loyal clients who have made this possible.

Looking Ahead

Short and sweet . . . certainly more of the same . . . miserable inventory levels (maybe a few more homes will hit the market as we move into spring) and an unquenchable buyer demand!