“Februaburied”
This wasn’t the way the high school tennis season was supposed to start in Central Oregon . . .
Track and field wasn’t much better . . . but, at least with more participants (read more shovels!), they were able to clear the track.
Even the morning commute was tough.
February in Bend was wild! We saw unprecedented snowfall . . . 30″ in town (23″ in just 3 days), breaking a century old record. In short, we were “Februaburied.”
“Sales Numbers Not Seen Since 2007 . . .”
Also, in February (historically the lowest sales month of the year), we saw just 106 sales . . . that’s down almost 17% from a crummy January, and 36% from a year ago!
These figures evoke memories (for those of us old enough to have been part of the real estate scene!) of late 2007 and early 2008, when we failed to crack the 100 sale barrier. One big difference–available inventory levels . . . in 2007, there were between 1400 and 1800 homes on the market; last month there were 397.
Homes (that sold) still continued to go at 96% of list. We stood at just 3.8 months of inventory; median price hovered around $430,000 (after reaching a peak of $450,000 in January).
It’s still difficult to blame all our woes on “snowmegeddon II” . . . the major storm hit on February 24–with just four days remaining in the month.
Semi-Affordable Bend . . . $229,000
Hardly low end at a beefy $480/ square foot, nevertheless, this was the least expensive home purchased in Bend in February.
The first of the “tiny homes” at Hiatus; just 477 square feet with a wee bedroom and a wee bathroom and a lot of other wee stuff, the little home featured high end surfaces and fixtures. Certainly, we’ll see more of these in the future.
The Hiatus community will feature 22 cottages, set in a public environment adjacent to The Shire. It’s sure to piss off the neighbors!
Bend’s Median . . . $430,000
The median priced home in Bend in February would look like this slightly boring 3/2.5, 1894 square foot Craftsman in Cascade Village on the road to Mt. Bachelor.
It featured tile flooring and countertops, maple cabinets, and a gas fireplace. It sold at $227 per square foot in 89 days.
As always, interesting to compare median prices on each side of town:
East side $367,000
West side $530,000
Luxury Bend . . . $1,989,000
Another of those contemporary designs at Tetherow . . . this one pushing the $2 million envelope.
It seems that Bend Trend Homes has the successful formula down–refined modern interiors, premium finishes, and a great indoor/outdoor connection.
Four bedrooms, 3.5 baths, and 3838 square feet . . . it sold at $518 per square foot.
Notable Sale
One auspicious sale in February . . .
A wonderful 3/3, 3055 square foot home in Enchantment, a hidden gem of a neighborhood next to the Deschutes River on Bend’s west side. A nice buy at $875,000.
Looking Ahead
I think we’re all looking ahead to a few things . . . no more snow, no more shoveling, no more ice dams!
