January 2021 Bend Real Estate Sales Continue 2020 Trends

If we were to use one phrase to summarize January 2021's Bend single family home sales on less than an acre, it would be "more of the same." The 2020 Bend home sale trends since getting over the initial shock of the Covid-19 pandemic have been monumental and the start in 2021 appears to be continuing the movement.

However, there is one "more of the same" comment that needs to be made when looking a sales trends. According to the Beacon Appraisal Group report, both Bend and Redmond have once again set new record high sales prices. For January 2021, Bend reached a new high median sales price of $577,500 while Redmond reached a high median sales price of $377,000. For Bend, this is

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Looking for Luxury Lots on Bend's Westside?

I have two lots pending in Westgate and have sold two lots in Tree Farm

 These two communities back each other on  Bend's  Westside

WestGate Community -

• Over 300 acres of natural Deschutes forest landscape

• Panoramic views of the Cascade Mountains

• 85 planned residential Lots 

• 2.5 - 5 Acre Lots

• Paved Pathways along roads

• Still have Lots For Sale and will be Launching more in the near future

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Tree Farm Community-

• West of Bend's City Limits

• Borders US Forest Service land and the

2020 Had Unexpected Results for Bend Real Estate Sales

Who would have thought when 2020 began that we would be hit with a world wide pandemic, recession, work from home orders, and a Bend real estate market that was unprecedented in its volume of sales, increase in home prices and lack of inventory.

When 2020 is compared with 2019, the following reflects the sales of Bend Oregon single family homes on less than an acre:

• Average home price up 15% to $611,764*
• Median home price up 11.6% to $502,000
• New listings down 3% to 2623
• Number of homes for sale down 32% to 552
• Pending sales up 21.2% to 2838
• Sold homes up 10.9% to 2596
• Median days on market down 52.2% to 11
• Months of supply down 35.7% to 2.7 
• Average price per

Will Coronavirus Change the Central Oregon Real Estate Market?

With the outbreak of the coronavirus worldwide, which has sickened thousands and created panic and uncertainty in our stock market, we are left to question if the effects will extend to the US real estate market, and more specifically to our local Central Oregon real estate market.

Coronavirus Pushes Down Interest Rates

Mortgage Interest Rates have already fallen to new record lows (3.29% as of March 5th) as investors are taking money out of the volatile stock market and putting it into safer US Treasury Bonds. Historically, when bonds are strong, mortgage rates go down.

Although record low rates are bound to get some home buyers off the fence to take advantage of their greater

Spring has arrived in Central Oregon and homes are selling! After a series of months in which Bend home sales had dropped while prices continued to rise, May 2019 has provided a 180 degree turn around. The number of Bend homes for sale jumped 34.8% and the number of homes sold rose 29.9% from April, 2019. After an unusual winter with late heavy snow, overcast skies and heavy rain in April, sellers decided at last that May, with the sun out and longer days, was a great time to list.  When May 2019 is compared with May 2018 for Bend single family homes on less than an acre, the following changes can be noted:

• Homes for sale are down 1.3% to 535
• Homes sold are up 2.2% to 230
• Homes pended are up 11.6% to 269
• The average price per square