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Bend Luxury Home Sales - June 2019 Trends

Written by Posted On Tuesday, 02 July 2019 13:00

Bend Or Luxury Homes Sales Growing

Bend's high end real estate market has been trending upward for several years. Almost unheard of less than 10 years ago, the sale of million dollar homes in Bend has become common and the construction of million dollar spec homes the norm in several Bend neighborhoods.

From July 2018 through June, 2019, 67 Bend homes priced between $1,000,000 and $1,299,999 have sold, a figure that is up 11.7% over the previous 12 months. For homes priced $1,300,000 to $1,599,999, 29 Bend homes have sold, up 11.5% over the same period a year before. Homes priced between $1,600,000 and $1,999,999, the figure is 13 homes, up 30% and for the very high end, the $2,000,000 or more price point, the figure is 7, which is up 75% over that same 12 month period.  This data pertains to Bend single family homes on less than an acre.

Bend Oregon Real Estate Trends

Bend Oregon Luxury Home Sales Have Balanced Market

The increased demand for high end homes in Bend has led to increased million dollar sales and in turn, a reduction in inventory. For many years, the high end market in Bend was geared toward buyers, with many months of inventory and many choices of homes for buyers to choose from.  The market has changed over the last year and inventory levels have dropped in almost all categories to under 6 months - a figure that is considered balanced between demand and supply.

The amount of luxury homes for sale in Bend dropped 11.7% from July 2018 through June 2019 in the $1,000,000 to $1,299,999 price to 5.3 months. During this same time, the $1,300,000 to $1,599,999 inventory dropped 36.6% to 5.9 months. In the $1,600,000 to $1,999,999 price point, the inventory levels dropped 15.9% to 5.8 months. And in the $2,000,000 plus figure, the 6.8 months of inventory remained unchanged.

 Bend Premier Real Estate

Predictions for Bend Or Luxury Home Sales

Baring any drastic change in the country's economic situation and Bend's feeder markets of the San Francisco Bay Area, Seattle and Portland, we believe that the trends support strong sales in Bend's high end real estate market for the rest of the year.

 

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

https://www.bendpremierrealestate.com
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