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REAL ESTATE NEWS | APRIL 2024

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REAL ESTATE NEWS | APRIL 2024
 

April Tulips in Woodburn
Spring real estate selling season and summer planning is upon us. A seller recently told me she'll list "once her rhodies bloom" so be on the lookout for more listings ahead by like-minded sellers. With continued buyer hesitation (see Market Update below), I highly recommend that sellers improve their homes before listing: yes, flowers, but also fresh paint, new lighting, repairs based on a pre-listing home inspection, new carpet or resurfaced wood flooring, and staging. I can help advise on priorities and help with payment options too. If you're buying a home, you may have more negotiating power for homes that have not been updated, and also ask about renovation loan options.
 
Read on for our next Avenir Realty event, home valuation & market trend tools, American Dream TV and local news. I'd love to hear from you!
Market Update
Low Inventory, Slight Seller Advantage, but High Rates slowing down Buyers
 
With 2.4 months of inventory, there's still a scarcity of homes in relation to demand. However, inventory is up 3.9% from a year ago, gradually shifting towards a more balanced market. Sure enough, high end homes are offering price reductions.
 
146 homes sold in March in Bend after spending an average of 40 days on the market. The List to Sold Price Percentage of 98.2% underscores the current seller's advantage. Year over year, we're in good shape - see graph of median sales price trends below.
 
CNBC Headline News: "Mortgage demand drops as interest rates soar over 7%"
  • Ave. mortgage interest rate increase to 7.23% for conforming loans
  • Applications for a mortgage to purchase a home fell 1% for the week and were 15% lower than the same week one year ago.
  • Demand for ARMs (adjustable rate mortgages) increased
Median Sold Price / Day on Market (DOM) for Other Central Oregon Markets:
Sisters: $947,500 / 52 DOM
Redmond: $536,000 / 70 DOM
Sunriver: $640,000 / 9 DOM
Powell Butte (12 pending sales): $1,312,000 / 32 DOM
Please join us...
 
Zero Proof: Mixing Mocktails
Learn the secrets of how to mix the best Mocktails. Your first drink's on us!
 
May 21st at 4:30 p.m.
The Flamingo Room
70 SW Century Drive #130
 
RSVP here ... or we'll run out!
Get the advantage with real estate market trends and your home's value with Avenir Realty tools. Click the photos or links below to learn more!
WHAT'S YOUR HOME WORTH?
 
Stay Up to Date on Market Trends
ex: Bend's median list price is currently $1,115,000
 
Watch the latest episode of American Dream TV, hosted by Laura Blossey, featuring The High Desert Museum and 3434 NW Bryce Canyon Lane in Bend.
 
For more episodes, see the blog in our website:
Local News
High Desert Museum Receives $500,000 National Endowment for the Humanities Award
The High Desert Museum will receive $500,000 from the National Endowment for the Humanities, one of 10 in the nation selected for funding for the exceedingly competitive Public Humanities Projects: Exhibition category, the agency announced Tuesday. …
JIA is Where the Heart Is
Asian street food elevated to the moon When you find that restaurant combining a comfortable atmosphere with kind service, incredible food and reasonable prices, it's like you've found a unicorn. The Bend restaurant scene is so busy and fluid that a unicorn is more tempting to keep to yourself…
Nothing but paws up at Bend's newest food truck for dogs
There is nothing more classically Bend than going to a food truck beer garden on a sunny afternoon, lounging in the grass with a locally made IPA, a burger and your dog. But for Bryan Du Toit, something was still…
What's going up: This 186-unit apartment complex in Bend opens soon
Project name: The Veridian
Avenir Realty's Latest Real Estate Activity
LB: Laura Blossey. SS: Stephen Saunders. TE: Traci Engel HB: Heather Blaine AW: Amanda Wrenn. FW: Frank Wood, click photos for more details
 
PENDING in 3 days (LB & AW)
$995,000
SOLD!
$1,250,000 (LB)
SOLD!
$470,000 (TE & LB)
(2 homes on 1 lot)
Pending (TE)
$799,000
JUST LISTED!
Active (LB & TE)
$1,795,000
JUST LISTED!
Active (LB)
$795,000
Price Reduced!
Active (LB & SS)
$1,895,000
Price Improvement!
Active (LB)
$ 1,160,000
Active (LB)
$5,249,000
Active (LB)
$1,585,000
Active (FW)
$429,000
Active (AW)
$415,000
LOOKING FOR YOUR NEXT HOME?
Customize your own search here:
LauraBlossey
Founder and Principal Broker
 
Lic# 201204340
All information deemed reliable but not guaranteed. If your property is listed with a real estate broker, this is not a solicitation of brokerage services. LauraBlossey, License 201204340, Avenir Realty.
 
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1051 NW Bond St., #410
Bend, OR 97703