Trump in Bend?
Yes, it’s a bogus subject line designed to draw the reader in and maybe liven things up a bit. Just like the urban legend perpetuated circa 2005 about Trump’s purported statement on Larry King Live, “Bend Oregon is the best place to invest.” I just wanted to see how many folks would open this month’s newsletter.
The Real Bend Market
February was definitely a strange month . . . hot weather, cold weather, stormy weather . . . the real estate market also sent out some very mixed messages:
- Continuing problems with available inventory; just 383 homes on the market
- Only 129 sales
- Median price bumped to $332,000 (up from $317,000)
- Pending sales soared . . . 229 units! Up 37% from last month.
- A real lack of “affordable housing” . . . one sale under $200,000
- The high end stalled . . . a “buyer’s market” over $500,000
- Brisk sales between $250,000 and $350,000
- Just 3.1 months of inventory overall
A Geodesic Dome in Bend
The low priced leader was a “unique” home . . . a geodesic dome sited on an acre on the way to Sisters. The 2 bedroom, 2 bath, 1145 square foot home sold for $196,890 or $172 per foot.
It featured a detached two car garage with plenty of storage; also a low maintenance (gravel!) yard . . . making it an ideal vacation home for those who’d rather spend their time skiing or golfing or paddling.
High End Bend . . . $1.4M
The most expensive home sold in Bend in February was a wonderful Gary Norman design on Awbrey Butte. It featured marvelous Cascade views from virtually every room.
Walnut flooring, alder cabinets, granite slab, a Wolf range . . . this home had it all. Even room for a 1300 bottle (1300 bottle?) wine cellar.
All this in a three bedroom, 4.5 bath, 4587 square foot design that went for a little over $300 per square foot.
The lower level featured a re-claimed barn wood office/man cave and a butt-thumping theater room.
Median Price in Bend . . . $332,000
The median priced home in Bend would look like this brand new Franklin Brothers home in Mirada, on Bend’s east side.
Three bedroom, 2.5 baths and 2020 square feet, it sold for $164/square foot. It offered stainless appliances, slab granite, and custom cabinets . . . not bad!
The neighborhood also featured a park and community pool
Notable Sale
One notable sale this month . . . new construction in Three Rivers South. A cool 4 bedroom, 2.5 bath single level home that went for $334,900.
Moving Forward . . . Bend Real Estate
Despite all the doomsday talk at the start of this epistle, things are looking pretty bright in moving forward:
- The 229 “pendings” are making March and April look solid
- Unemployment figures in Oregon are the best in 20 years . . . under 5%.
- Interest rates remain surprisingly low (around 4%).
- We have wonderful weather and the spring selling season (more inventory) to look forward to.
- New construction continues to rock.
- Rumor has it that Kim Kardashian is buying in Bend.
I’ll sign off on that note!
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