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Bend OR Luxury Homes - Trends for September, 2017

Written by Posted On Friday, 13 October 2017 20:55

Bend Oregon Luxury Home Sales Remain Strong

The high end market in Bend appears to be showing continued strength. Despite a smoke filled summer with many forest fires, the concerns which dampened tourism during the eclipse, and an unprecedented winter with more snow than ever recorded before, there is great enthusiasm for Bend million dollar homes.

The following statistics compare September 2017 Bend single family home sales over  $1,000,000 on less than an acre with sales from September 2016:

  • Homes for sale up 27.9%
  • Homes sold up 75%
  • Homes pended up 66.7%
  • Average active price up 12.1%
  • Average sold price down 10%
  • Average price per square foot down 4.2%
  • Months of inventory down 27.5%

More interesting data can be seen comparing 3rd quarter 2017 with 2016:

  • Homes for sale up 27.9%
  • Homes sold up 138.5%
  • Homes pended up 64.3%
  • Average active price up 12.7%
  • Average sold price down 5.7%
  • Average price per square foot up 7.2%
  • Months of inventory down 48.4%*

What are Our Predictions for Bend Luxury Home Sales?

The trends show a growing demand for luxury homes in Bend. Although we are seeing a drop in the sold home prices, this can reflect the increase in new homes being built in the $1,000,000 to $1,200,000 price point. These homes are typically smaller than the "McMansions" built in Bend a decade ago and better suit the lifestyle of many of today's Central Oregon buyers. This idea is supported with the dramatic decrease in the months of inventory. It appears builders have found the niche for the luxury home buyer in Bend. As long as Bend Oregon builders continue to build what Bend home buyers want and at a price they can afford, we predict continued strong sales in the Bend luxury home market.

Bend Luxury Home Sales

* Data from Central Oregon MLS

Original blog can be read at Bend Premier Real Estate.

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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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