REAL ESTATE NEWS | JULY 2024

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REAL ESTATE NEWS | JULY 2024

 

 

 
Snow-streaked mountain rises above evergreen forest, wetlands, and a pond.
Hosmer Lake - view from boat launch
 
Summer heat is rising and so is real estate inventory. Sales are lagging compared to inventory, so days on market has increased slightly and home prices are adjusting to compete, but I believe buyers will unpack from their vacations and get serious about living where they want to live... right here in Central Oregon. Read below for market trends, the number of aging homes, neighborhood guides, local news and more. Check in often on our website for some amazing upcoming listings (ex: home on acreage with a shop, guest home & views; a fixer upper; modern home with ADU). Share your photos, stories, reviews and let us know what we can do to help you nurture the equity you have in your home with proper upkeep & updates or navigate the real estate market.
Market Insights and Trends
Bend-area single-family home median prices and sales from June 2021 through June 2024.
Donnie Montager, author of The Beacon Report, snapped me out of analysis paralysis with this refreshing quote: "Bend has a strong and growing market segment in the higher price ranges that has been consistently strong over the past several years." YES, thank you! In July 2019 only 5% of the sales were over $1M but this month 24% of sales are over $1M. In spite of some downward trends in number of sales since the peak of COVID, we're actually trending with last summer for sales with our sights upward. Median home prices for single-family homes have risen steadily over the past two years, now reaching $800,000, with the price per square foot climbing to $374. Despite varying sales volumes, the past 12 months recorded 1,534 transactions, supported by a current inventory of 454 listings, suggesting a balanced market with moderate demand.
 
Sellers might want to consider adjusting their pricing strategies to attract more offers, given the current gap between inventory and buyers. New construction activity, as reflected by the increases in building permits, indicates future increased supply, making strategic pricing even more critical.
Aging Homes & Remodeling On the Rise
Bar chart shows single-family homes aged 20–39 growing from 21.9 million in 2022 to 24.1 million projected in 2027.
Buyers can often guess a home's age based on the granite, lighting, type of wood cabinets or flooring, and other finishes. The latest data shows a significant number of homes are now in their prime remodel years: think of the housing boom in 2006-2007, which are now almost 20 years old. 2 of my favorite neighborhoods, Awbrey Park & Awbrey Butte, are in this category so Buyers can either capitalize on relatively lower prices and make some updates themselves, or narrow the search to updated homes or newer construction where they'll pay a premium but not have to do any work. What kind of buyer are you?
Bend's Neighborhood Guide - visit several neighborhoods on our website & suggest others!
 
Nestled in the heart of Bend, Awbrey Butte offers stunning views, beautiful homes, and a tight-knit community vibe. Neighbors enjoy access to trails and multiple parks including playgrounds, tennis, & basketball as well as great walking loops with and without hills. With its tranquil streets and homes on larger lots for added privacy, Awbrey Butte is an amazing place to live.
Property Spotlight
 
This exquisite estate is an ideal sanctuary for those seeking a blend of luxury, acreage, and practicality with a shop and guest quarters. Whether you are an equestrian enthusiast, a gardener, or someone who appreciates the tranquility of rural living, this property offers an unparalleled lifestyle. Offered at $2,195,000
Share Your Bend Story!
Five-star testimonial praising Laura’s real estate service, with a circular portrait and living-room background.
We love hearing from our community!
 
Share your stories, photos, experiences, and suggestions about living in Bend. Whether it's a favorite park, a local event, or a hidden gem, we'd love to hear from you!
 
Visit our website to submit your stories or send me an email, and get a chance to be featured on our next Newsletter.
 
You can also submit Zillow testimonial about working with me here: 5-Star Zillow Review!
Local News
New Sculpture Installed at Colorado and Columbia Roundabout
Outdoor metal sculpture with a rust-orange circular arch and angular panels in a plaza.
A new sculpture was added to Bend’s public art collection earlier this week ....
These Are the Most Popular Landscaping Trends of 2024, According to a New Report
Garden patio with gravel paths, café seating, potted flowers, and dense greenery.
It’s all about the vibes!
Living with an HOA and CC&Rs
 
Aerial view of a dense neighborhood with closely spaced homes and colorful roofs.
A quick guide to real estate covenants and more...
The best things to do in Bend for July
Woman paddling on a lake from a board in warm evening sunlight.
Break out the red white and blue, Bend friends! It’s July in the city routinely ranked as one of the best...
Avenir Realty flyer offering a home valuation, with a modern house, QR code, website, and phone number.
DO YOU KNOW YOUR
HOME WORTH?
 
Avenir Realty graphic promoting a real estate research subscription with homes, listings, coin stacks, and a market chart.
Stay Up to Date on Market Trends
ex: Sunriver's median list price is currently $956,950
 
Avenir Realty's Latest Real Estate Activity
LB: Laura Blossey, FW: Frank Wood
AC: Angie Cox, AW: Amanda Wrenn,
TE: Traci Engel HB: Heather Blaine
SS: Stephen Saunders.
 
LOOKING FOR YOUR NEXT HOME?
Customize your own search here:
Tan two-story house with stone porch pillars and a landscaped front yard.
Just Listed!!!
$1,325,000 (LB)
Aerial view of a single-story house with a tree-lined yard, green lawn, and raised deck.
Just Listed!!!
$725,000 (AC & LB)
Large desert estate with tile roofs and arched garages, backed by rugged rocky hills.
Active (LB)
$5,249,000
Gray single-story home with attached garage, wide driveway, and distant mountain views.
Active (LB & SS)
$1,895,000
Cabin among autumn trees beneath rugged mountain cliffs, seen from above.
Active (LB & TE)
$1,795,000
Elevated view of a modern home with a wraparound deck and wooded yard.
Active (LB)
$1,549,000
Modern single-story home with a dark roof, landscaped yard, and distant snow-covered mountain view.
Active (LB)
$ 1,160,000
 
Two-story beige house with a shaded paved patio, outdoor dining set, and grill.
Active (SS)
$769,000
Blue-gray two-story house with a stone foundation and a leafy tree in front.
Active (AW)
$370,000
Row of gray garage doors beside a residential building with a wide paved driveway.
Active (AC)
$325,000
Aerial view of homes and fields, marked by a red pin, with snowy mountains beyond.
Active (SS)
$290,000
House entrance with brick columns, broad steps, and a wreath on the wooden door.
Pending (FW)
$959,000
Single-story gray home among tall pines, with a pale green privacy fence and shrubs.
Pending (FW & LB)
$599,990
Modern attached townhouses behind a wooden fence, with green lawns and a paved walkway.
Pending (AW)
$399,000
Light green gabled house with a raised wooden deck and mature landscaping.
Sold (LB)
$785,000
Yellow two-story house with a covered porch, gray roof, and brick chimney, viewed from above.
Sold (SS)
$500,000
Avenir Realty
Thinking of Listing?
 
Contact your favorite Avenir Realty agent to get started!
Blonde woman in a blue patterned blouse standing beside a stone wall and metal railing.
Laura Blossey
Founder and Principal Broker
 
949-887-4377
Lic# 201204340
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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. Laura Blossey, License 201204340, Avenir Realty.
 
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473 W. Hood Ave #102,
Sisters, OR 97759