REAL ESTATE NEWS | FEBRUARY 2024

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REAL ESTATE NEWS | FEBRUARY 2024
 
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 Buyers: don't overlook homes for sale with contingencies and also ask to see withdrawn listings which are likely to be re-listed in the Spring.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!
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.
Snow Shoe with Avenir Realty & a Forest Ranger!
Sunday, Feb. 25th, 1:00 at Mt. Bachelor
Only 16 spots available so RSVP now!
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.
Welcome to Avenir Realty!
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.
 
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.
 
NEW AMERICAN DREAM TV SEGMENT
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.
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!
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
JUST LISTED!
Awbrey Park (LB & SS)
$2,150,000
COMING SOON!
Eagle Crest (LB)
$1,585,000
Active (LB)
$3,500,000
Pending (LB)
$1,250,000
Active (LB)
$2,395,000
SOLD!
$615,000
Pending (TE & LB)
$499,000
Pending (HB)
$475,000
Active (AW)
$420,000
Active (LB)
$1,195,000
(2 homes on 1 lot)
Active (TE)
$890,000
Mortgage rates show little movement as markets digest new economic data
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
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
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
Bend residents could see a new mobility hub downtown as soon as this summer, according to representatives from Cascade East Transit.
Laura Blossey
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. Laura Blossey, 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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Avenir Realty

(949) 887-4377

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1051 NW Bond St., #410
Bend, OR 97703