The Pundits

I guess the pundits aren’t always right (” . . . we’ll see a rather significant drop-perhaps up to 10%- in our median price; I’d also be surprised if we reach 200 sales for the month.”). Actually, September turned out to be a pretty good month for Bend real estate.

We saw 213 homes purchased; 214 pended. The median price did drop to $439,900 (a decrease of 8% from August). Homes continued to sell at 97% of original list price (at an average of $260/square foot). Still just 2.6 months of available inventory overall. Perhaps somewhat surprisingly, we continue to see a “seller’s market” (less than six months of inventory) across the board.

Interesting to note that while overall sales numbers were quite good, we saw a 41% drop (from August’s numbers) in the $500,000 to one million dollar price range.

I digress for a moment . . . this monthly report can sometimes sound a bit repetitious, maybe (dare I say) boring; for a change of pace, if you’d rather read about, and see photos of, our recent self-guided bike trip to Italy, CLICK HERE or Here.

Luxury Bend . . . $2,395,000

The luxury market continued to fair pretty well . . . we saw the sale of 13 homes for more than a million dollars; three topped two million!

The big winner was a cool riverfront home designed by two artists. The 4/3.5 home was uniquely built around a tree (yeah, it does sound a bit weird). It offered plenty of windows and light. It sold for $2,395,000 or a hefty $636/square foot!

It featured 130′ of river frontage as well as mature landscaping and lovely gardens.

Bend’s Median . . . $439,900

As predicted, Bend’s median price dropped a bit  to $439,900.  For those considering relocation, that shakes out to $385,000 for the east side of town, and $651,500 for the west.

The median priced home might look like this Pahlisch Home in The Bridges on Bend’s south east side. Three bedrooms, 2.5 baths, and 2010 square feet, it closed at $219 a square foot.

As always, all the good stuff–master on the main level, alder cabinets, and a gas fireplace. All of this packed onto a lot just 35′ wide (and 3623 square feet).

The community does feature some great amenities–pools, a playground, rec center, an indoor basketball court, and a clubhouse. HOA fees are $118 per month.

Affordable Bend . . . $249,000

The tiny homes are on the move! The two least expensive homes sold last month were products of “The Hiatus” . . . a cottage style community of 22 lots.

The low priced leader was a one bedroom, one bath, 598 square foot (you read that right!) home that sold for $249,000 or $416 per foot.

All the Hiatus homes are small and functional; they feature high quality fixtures and surfaces.

Auspicious Sales in Bend

A couple of more significant sales in September. Sales prices seemed to be congruent with the overall market trends for the month.

A great single level contemporary home  . . . 3/2, 1728 square feet . . . $478,000.

A charming craftsman in Reed Point . . . 3/2.5, 1482 square feet . . . $340,000.

Looking Ahead

As we roll into the fourth quarter of 2019, the Bend market remains pretty strong. It seems that everybody still wants to live in Bend! It’s safe to assume that we’ll continue to see an ascending market into 2020. Prices will continue to rise . . . albeit at a slower rate (2.5% to 5% would be a safe bet). Outstanding interest rates also make it a great time to buy. On the flip side, lack of inventory, an extreme shortage of affordable housing, and  continuing political uncertainty are potentially limiting factors.