REAL ESTATE NEWS | MARCH 2024

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REAL ESTATE NEWS | MARCH 2024
 
Cascade Mountain views from a pre-listing photo shoot in SE Bend
 
Real estate activity is noticeably picking up, as you can see in coming soon activity below, new listings on the market and more buyers in town. Read below for market trends, the impact of wildfire risk on buyers and sellers, city development updates, impressive new agents to our team, fun upcoming Avenir Realty events, and more. I'd love to help you get your home ready for Spring, give recommendations for service providers, and answer your questions about real estate. If it's time to make a home change, my market knowledge combined with my new buyer tools will find the best fit for you. Hope to hear from you soon!
Bend Market Trends
The median price continues to rise over time and is currently $725,880 across Bend. There is a strong level of demand with a 1.86 month supply of inventory, with fewer homes available for sale compared to the number of buyers. Inventory has decreased by 12.68% over the last 12 months, further exacerbating the competitive nature of the market. 3-6 offers on a single listing has been common in the $700K and lower price point, but buyers with loans can be just as competitive with the right price and other terms.
 
Median days on the market at 48 days - but remember this is for all price points across all sections of Bend. List to Sold Price Percentage is at an impressive 99%, indicating that sellers are able to command close to their latest asking price. Buyers, do not expect to secure a home with a "low ball" offer but negotiating is still absolutely worth a try, whether in price, credits or closing costs, furnishings, move-in date, etc.
LOCAL INSIGHT
Wildfires: Yellow is HIGH RISK
Senate Bill 80 states: "The State Forestry Department shall study wildfire" and submit findings by 9/15/24. Why? A much ired state wildfire risk map and 2020 Labor Day fires has resulted in cancelled insurance policies and/or exorbitant rates in areas in high wildfire risk... which could be said to be anywhere that interfaces with the forest. If you are considering selling or buying in an area that may have high wildfire risk, let us help you navigate the process so you can be prepared up front.
City Development Updates
We stay up to date on city initiatives so you know what -and where- you're buying.
 
In a meeting this week with Colin Stephens, Community and Economic Development Director for the City of Bend, I explored the Bend Data Viewer to see zoning and development overlays (image at left), discussed 85' height allowance for affordable housing in the economic zone, 10% open space requirements for new master plans, how the UGB may expand, and more. I remain impressed with the City of Bend's intentions, transparency, and cross-department communications. Please ask how I can help you with any research before you invest in Bend, OR real estate.
 
 
WHAT'S YOUR HOME WORTH?
 
 
WELCOME to the TEAM
With over 35 years in sales - and a licensed Residential Specialty Contractor - Frank's continued success is based on relationships and communication. Satisfied clients praise his attention to detail, 24/7 availability, negotiating skills, and ability to discern each person’s unique goals within the myriad of considerations when buying or selling a home. Read more
With nearly three decades as a licensed real estate and land use attorney, Stephanie adds value for buyers and sellers as she understands and can explain legal nuances concerning title, zoning, easements and entitlements, at no additional charge. Communication and negotiation skills are the cornerstone of Stephanie’s success.
With a background in the custom home market, staging & design and sales management, Angie emphasizes the importance of staying current with market trends and fostering strong client relationships. Her passion for building financial wealth makes her a dedicated and resourceful broker throughout the transaction process. Read more
Avenir Realty Upcoming EVENTS
3/16: Leprechaun Trap Crafting
at The Paper Place in Sisters
 
Craft magical traps at 12:00 PM, after Paulina Spring Book's story hour.
RSVP & more details
4/9: Tin Pan Theater
Join us for a private screening of short films. Meet BendFilm Executive Director, enjoy snacks & a fun movie night!
RSVP - limited to 25 people
4/20: Shred your tax docs!
We're renting a shredder so you can safely - and gladly - purge. Coffee, donuts & shredding on us!
RSVP - so we can order accordingly!
5/21: Zero Proof: Mixing Mocktails!
Join us at the Flamingo Room and learn how to mix some fun Mocktails - first drink's on us!
RSVP
 
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 (except coming soon listings which aren't online yet)
 
Coming Soon in Eagle Crest: $1,585,000 (LB)
Ranch at the Canyons
Coming Soon (LB & TE)
$1,795,000
Awbrey Butte
Coming Soon (LB)
new single level plan
$2,775,000
Heights of Bend
Coming Soon (LB & AW)
$995,000
Pending (LB)
$1,250,000
Pending (FW)
$639,000
Pending (HB)
$475,000
Active (LB)
$2,395,000
Active (LB & SS)
$2,099,000
Active (LB)
$1,195,000
(2 homes on 1 lot)
Active (TE)
$890,000
 
Active (FW)
$429,000
Active (AW)
$415,000
Real Estate News
Demolition of the largest Klamath River dams underway
By Gerry O’Brien • The Bulletin
Bend: Cooley Road closing for 10 days beginning Thursday
Cooley Road on Bend's northern edge will be closed for 10 days beginning Thursday, state transportation officials announced Monday.
Rent prices post highest annual increase in over a year: Redfin
The median asking rent in the United States rose 2.2 percent year over year to $1,981 in February, the largest annual gain since January 2023 and a 0.9 percent increase compared to the month before.
Altos: Housing inventory could grow 40% this year
Inventory has been rising for two years just as mortgage rates have been rising for two years. By July we could have 40% more inventory.
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