Thursday, 17 January 2019
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2018 Was a Great Year for Bend Luxury Home Sales

Written by Posted On Monday, 07 January 2019 15:38
Bend Real Estate Trends Bend Real Estate Trends

Bend Oregon Luxury Homes Sales Rise in 2018

The Bend high end real estate market grew considerably in 2018.  Million dollar homes, including those built for speculation, have sold at larger numbers than those in 2017 with the greatest percentage increase in the $1,300,000 to $1,699,999 range (up 42.9%). **

For available inventory, the numbers of homes in the $2,300,000 and up range grew by the largest percentage with 50% more properties available in 2018 than in 2017. The months of supply fell in all categories except the highest where the inventory levels are now at 17.2 months (up from 10.9 months in 2017).

Pending sales are also up with the greatest percentage increase in the $1,300,000 to $1,699,999 category with an increase of 63.9%  There are 59 homes pending which were listed in this group.  There are 93 pending in the $1,000,000 to $1,299,999 and 23 in the $1,700,000 to $2,299,999.  The smallest number of pending homes are in the most expensive price point with 11 pending which are listed over $2,300,000.

What Will 2019 Bring to Bend Luxury Home Sales?

Although we cannot know definitively what 2019 will bring to the Bend high end market, we can see that the trends appear to be changing. 4th quarter 2018 saw home sales across the country dropping with fewer pending sales noted. The Bend feeder markets of the California Bay Area and the Seattle Metro have flattened with home sales taking longer and home price reductions occurring. In Bend, inventory levels are gradually growing and price reductions are common.  This is a normal market trend in winter, but with the current volatility of the stock market and uncertainty with the federal government shut down, it remains to be seen how the luxury home sale trends will evolve in 2019.

Bend Luxury Home Trends

Bend Oregon Luxury Homes Trends 2018

 **Data from Central Oregon MLS.  Original blog can be read at Bend Premier Real Estate's 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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