February 2022

Once in a very great while, our resident pundit gets it right. In February, he did just that. In last month’s “Looking Ahead” section, he casually stated that Bend’s median priced home might top $700,000 . . . an impossible number you say . . . we all thought so! But it did top $700,000. Did it ever! When all was said and done, it reached a heretofore unfathomable $769,000. Completely off the chart!!

Awfully shocking to look back 10 years, when Bend’s median price was $199,000

We did see the purchase of 131 homes (single family residential on less than an acre); and, of course, our inventory issues continued with just .4 months (12 days) available overall. Homes (especially those in the mid-range) fetched multiple offers and continued to sell for well over list price. Still an extreme “seller’s market.”

The picture above (meant to be a little break in the action) shows the filled-to-capacity West Village parking lot at Mt. Bachelor over the President’s Week period.

Luxury Bend . . . $3,350,000

A couple of homes, this month, reached the $3 million plateau . . . the big winner once again at Tetherow. This time, a wonderful contemporary offering breathtaking views of Mt. Bachelor, The Sisters, and Broken Top.

The four bedroom, three bath, 4193 square foot home went pending at full list price in just 6 days. It closed at almost $800 per square foot.

This entertainer’s delight featured an amazing 10-piece Miele appliance package, a monster side-by-side refrigerator/freezer, two dishwashers, a killer 5’8″ sink with two faucets, and the all important kegerator!

Interestingly, we originally sold this magnificent home in July of 2016 for $1,877,565.

Bend’s Median . . . $769,000

Cool! A single level home on a large lot with a three car garage! What more could anyone want?

Built in 1987, this 3/2, 2257 square foot home on  a .38 acre lot in Mountain High featured hardwood floors, vaulted ceilings, and large windows. The house was sited at the end of a cul-de-sac amidst the tall ponderosas the community is noted for.

It went pending in just two days, and closed at full list price (at $341 per foot).

As always, a quick comparison of the median prices on the two sides of town:

East side     $655,220

West side    $922,000*

*42% of sales over $1,000,000

Bargain Bend . . . $340,000

The low priced leader in February was this “cute” 2/1, 700 square foot cottage that closed at $340,000 ($10,000 over list price). Perhaps an aberration, as the next least expensive home was $130,000 more; one of only two homes to sell for less than $500,000!

Not too much to say about this one (nothing in MLS), other than it was zoned ME (mixed employment), so did have a bit of potential. The home offed a great location for railroad aficionados.

It went pending in 10 days, and closed at $486 per square foot.

Looking Ahead

We can expect more of the same . . . a shortage of inventory (hopefully spring will bring  more homes to market), approximately the same number of purchases (between 135 and 150), and our amazing median price will undoubtedly remain above $750,000.

Special Thanks

A special thanks to our loyal clients (now friends) who, in a difficult year, enabled us to enjoy a stellar year of real estate in Bend.

Curious about the value of your home? Just want to chat about the Bend market? Give us  a call . . . 541-480-8131