REAL ESTATE NEWS | FEBRUARY 2024

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REAL ESTATE NEWS | FEBRUARY 2024
 

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Snow-covered jagged mountains rise above an open snowy field dotted with evergreen trees.
Majestic Broken Top Mountain
 
It's a beautiful February in Central Oregon with fresh powder at Mt Bachelor, WinterFest in Bend, night skiing at HooDoo, ice skating at the Inn at the 7th Mountain and more. Read below for a private snowshoe tour with a Park Ranger, market updates, the 97 and Costco, new Avenir Realty agents and relevant articles. Let us know what else you want to hear about!
 
It's prime time for Sellers to capitalize on improved market conditions. With inventory dwindling to 288 homes and the Market Action Index trending upward, there's a clear advantage in favor of sellers. The median price of new listings in Bend sits at $949,950, signaling strong confidence in the market's growth potential. Sellers can expect heightened buyer interest and potentially quicker sales, making it an opportune time to list their properties.
 
With a Market Action Index of 38, reflecting a slight seller's advantage, home sales are outpacing available inventory. Buyers should anticipate potential upward pricing pressure in the near future as competition intensifies amidst limited supply. If interest rates nudge downward as expected, Buyers will need to act more quickly. For example, a home in NWX went pending in 4 days and our Buyer will have to be backup position, and one of our acreage properties just got a cash offer. Buyers: don't overlook homes for sale with contingencies and also ask to see withdrawn listings which are likely to be re-listed in the Spring. Let's get creative!
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Six-month average sold prices: Bend $898,176, Redmond $587,582, and Sisters $959,962.
Average Sold Prices in Last 6 Months:
 
Sisters tops the charts with a whopping $959,962 average sold price. Sale prices have come in at 97% - 98% of the latest list price in all markets, with average days on market ranging from 55 -70 days.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Snow Shoe with Avenir Realty & a Forest Ranger!
Sunday, Feb. 25th, 1:00 at Mt. Bachelor
Only 16 spots available so RSVP now!
A group snowshoes through a snowy evergreen forest, following a trail beside a creek.
Learn about the geology, biology, and hydrology of Deschutes National Forest while snowshoeing along the Egan Cone during an interpretive snowshoe hike with a Forest Service ranger. Our private tour will start at 1:00 p.m. and last 90 minutes. Snow shoes are provided and Laura is making a donation to Discover Your Forest on everyone's behalf.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Welcome to Avenir Realty!
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HEATHER BLAINE
Heather ran a large, family-owned fruit-growing operation in Hood River for over 20 years. Her side passion during those farming years was buying and selling properties.
 
Laura Blossey smiling in a floral blouse, with long brown hair and dangling earrings.
AMANDA WRENN
Amanda's 16 years of collective experience in customer service, education, and real estate brings a wealth of knowledge to anyone looking for a well-rounded real estate expert.
 
Three adults review real estate paperwork beside a small house model and mortgage chart.
NEW AMERICAN DREAM TV SEGMENT
ADTV with Laura Blossey collage featuring a modern home, two people, and snowy skiing scenes.
Experience Mt. Bachelor - and learn a few things I bet you didn't know - and indulge in the vision of 2616 NW Gill Ct in Awbrey Butte. Join us as we learn from Michael Sandness, the General Contractor from Quality Builder Group, about the meticulous process of crafting such an exquisite home, and see more details of this home at www.AwbreyButteLuxury.com
 
This is also available in our Avenir Realty website blog. Click here to read more.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Map showing proposed Bend North corridor improvements around Cooley Road, US 97, and Cascade Village Shopping Center.
In case you didn't know...
 
The 97 corridor re-routing will be complete by the end of the year, reducing congestion and making the commute between Redmond and Bend more tenable. The project will be complete by end of 2024. Click map for more details.
 
The new Costco is shown below to the east of Hwy 20. Caraway, the new 150 acre mixed use Pahlish development north of Cooley, will include 400 single family homes and 200 multifamily units.
 
Additional housing will be added to the west of Hwy 20 towards OB Riley Rd. Let us know if you'd like more details about these and other new construction projects!
Planning map showing proposed highway changes, road connections, a future Costco, and a residential development.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Avenir Realty's Latest Real Estate Activity
(LB: Laura Blossey. SS: Stephen Saunders. TE: Traci Engel.
HB: Heather Blaine. AW:Amanda Wrenn)
click photos for more details
Gray two-story home with a wood-entry porch and garage, backed by a city skyline and snow-capped mountains.
JUST LISTED!
Awbrey Park (LB & SS)
$2,150,000
Large gray-roofed home with a paved driveway and mountain views beyond the surrounding neighborhood.
COMING SOON!
Eagle Crest (LB)
$1,585,000
Modern two-story home with angular rooflines, paired balconies, and a colorful landscaped garden.
Active (LB)
$3,500,000
Gray home with a covered porch and two-car garage, framed by autumn trees and distant mountains.
Pending (LB)
$1,250,000
White two-story house with a brick porch, warmly lit windows, and stepping stones across the lawn.
Active (LB)
$2,395,000
Two-story gray house with a double garage and covered porch, framed by an evergreen and leafless trees.
SOLD!
$615,000
Single-story house with a long wooden porch, broad green lawn, and a wooded backdrop.
Pending (TE & LB)
$499,000
Rear of a beige home with a fenced yard and raised wooden deck beneath evergreen trees.
Pending (HB)
$475,000
Two-story townhomes with fenced green yards and a walkway beneath a partly cloudy sky.
Active (AW)
$420,000
Olive-green single-story home with an attached garage, gravel yard, and snow-dusted mountains beyond.
Active (LB)
$1,195,000
Green house with white trim and shutters behind a stone wall and chain-link fence.
(2 homes on 1 lot)
Active (TE)
$890,000
Three adults review real estate paperwork beside a small house model and mortgage chart.
Three adults review real estate paperwork beside a small house model and mortgage chart.Three adults review real estate paperwork beside a small house model and mortgage chart.Three adults review real estate paperwork beside a small house model and mortgage chart.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Mortgage rates show little movement as markets digest new economic data
A small house and red percent sign balance on opposite ends of a wooden seesaw.
Mortgage rates stabilized this week despite newly released economic data, which show that the U.S. economy and labor market remain strong.
The bright side to property investment
Yellow two-story house with a family and real estate agent beside a SOLD sign.
With the prospect of mortgage costs falling through 2024, the property market is beginning to experience a resurgence in interest from investors and landlords.
Loan options for first-home buyers
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The first sign of a sustainable fall in mortgage costs will likely inspire thousands of young Americans to jump into the property market for the first time.
Bend could see new mobility hub as early as this summer
Site plan for a public plaza and transit area, labeled with parking, a bus shelter, and public art.
Bend residents could see a new mobility hub downtown as soon as this summer, according to representatives from Cascade East Transit.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Blonde woman in a blue patterned blouse standing beside a stone wall and metal railing.
LauraBlossey
Founder and Principal Broker
 
Lic# 201204340
Three adults review real estate paperwork beside a small house model and mortgage chart.
Three adults review real estate paperwork beside a small house model and mortgage chart.
Avenir Realty
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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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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.

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473 W. Hood Ave #102,
Sisters, OR 97759