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Bend OR Luxury Home Sales Trends - July 2017

Written by Posted On Friday, 01 September 2017 20:16
Bend luxury home trends Bend luxury home trends

Bend Luxury Home Sales Trending Up

During the recession of 2008 - 2011, Bend Oregon luxury home sales were few and far between. Desperate people sold stunning, luxury properties through short sales or banks foreclosed on them. New construction was extremely limited and only financed through private lending and the product built was not considered high end. Many luxury homes that did sell sold at a fraction of their true replacement cost and the Bend real estate luxury home market was very weak.

The Bend real estate market has recovered and luxury home sales in Bend are up. There is great confidence with new home builders building million dollar plus spec homes which buyers are purchasing at full listing price. While the overall Bend single family home sales reflect a less than 3 month supply, the $1,000,000 plus market shows a nine month supply, which is considerably lower than the 8 year supply Bend experienced in 2010. Bend luxury homes are selling!

 What are Our Predictions for the Bend Oregon Luxury Real Estate Market?

Million dollar plus Bend homes reflect the following data comparing July 2016 with July 2017:

  • Number of homes for sale up 9.9%
  • Number of homes sold up 50%
  • Number of homes pended up 14.3%
  • Average sold price per square foot up 19.3%
  • Average active home price up 12.6%
  • Months of inventory based on closed sales down 26.2% *

While no one can predict the future, the trends reflect a growing luxury home market for Bend. As long as people still find the city and its lifestyle one they wish to embrace, we believe the high end Bend real estate market will continue to do well.

Bend OR luxury real estate trends July 2017

 * Data from Central Oregon Multiple Listing Service.  Original blog can be seen at Bend Premier Real Estate Blog.

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Lynnea Miller

Owner/Managing Principal Broker Bend Premier Real Estate.

Lynnea began her real estate career when her husband became a general contractor in 1994. After years of working with her husband and selling many homes "for sale by builder," Lynnea got her real estate license in 2000 and began working at a local brokerage, first as part time Broker and marketing director for the company, and later as full time office manager/marketing director/transaction coordinator, and then as Principal Broker. In 2010, Lynnea started her own brokerage, Bend Premier Real Estate, with the encourage of her husband and several Brokers.

Prior to real estate, Lynnea worked for 9 years with her husband in the ownership and management of 3 retail Bend, Oregon businesses with up to 35 employees. Before moving to Bend in 1985, Lynnea worked in homeowner association property management, being promoted in the space of 1 year from Customer Service, to Property Manager, to District Manager.

Lynnea graduated from the University of Oregon Summa Cum Laude in 1983 with a Bachelors of Science degree and graduate first in her high school class in 1979. Lynnea and her husband have 3 adult children. Lynnea also teaches fitness classes part time, holding an ACE certification since 1990


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