Real Estate News | March 2023

Real Estate News | March 2023

Photo above: Sunset at Crater Lake, 90 miles from Bend, OR
 
As we near the end of first quarter, I remain optimistic about the Central Oregon housing market in spite of some isolated bank failures and fluctuating but high interest rates. Mortgage applications increased as did pending sales, both indicators of a stronger real estate market (see charts below). In networking with Portland realtors (whose seller activity directly translates to buyer activity in Bend), multiple offers are picking up, and I'm personally seeing that in Bend as well. I'm currently helping 4 sellers prepare for Spring or Summer listings with comp analysis, design and remodeling advice, and a multi-tier marketing strategy. I've hired a sales assistant to help identify new sellers and buyers, implemented new software to be more organized and efficient than ever, launched new ad campaigns, and I'm eager to bring new agents into Avenir Realty throughout the year. Continued learning is critical for personal and company growth, so I also remain dedicated to staying on top of the market - and marketing techniques - so you don't have to.
 
Yesterday I co-hosted a great event with CHI (full-service interior designers and remodeling contractors) and Hampton Hill cabinets. I wanted to add value not only to my clients but also to fellow realtors, as solid relationships across the table will only make transactions smoother for all parties! We reviewed before & after photos and discussed costs, timelines and the resulting added value to the homeowners. This directly translates to added profit at the time of sale. I'd love to share more details!
 

Positive Trend

... Resulting in:

6.5%

Increase in mortgage applications last week. "Mortgage demand rises despite volatile interest rates" - CNBC

35 to 42

The National Association of Home Builders/Wells Fargo Housing index rose nine points from Jan. - NAHB

+8.1%

Pending sales rise for 2nd straight month. Largest jump since June of 2020. - NAR

Market Action

This week the median list price for Bend, OR is $899,900 with the market action index hovering around 41. This is a lean further into a Seller's Market since last month's market action index of 39. - First American Market Report


Work With Us

Serving all of Central Oregon, we specialize in sellers and buyers looking to downsize for retirement, move into a larger home, or a home with closer proximity to trails, rivers, or local amenities.