REAL ESTATE NEWS | MAY 2024

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REAL ESTATE NEWS | MAY 2024

 
Metolius River
 
Memorial Day is upon us, a welcome leap into the summer mindset! This mindset typically includes a call to action for real estate activity: in a telling sign, photographers and stagers are now booked weeks out so be sure to plan in advance! Mortgage interest rates declined for the third straight week in a row to below 7%, but read below for a better perspective than just focusing on rates (in my humble opinion). Bend's feeder markets are hot, which could result in stronger buyer activity in Bend. Stay up to date on staging, home valuation and market trends, and relevant local news. Book your concert tickets asap for Hayden Homes Amphitheater impressive summer line up. What are your summer plans? Stay in touch and let's get out to enjoy our beautiful Central Oregon together!
A focus solely on the mortgage rate puts buyers at risk of foregoing important goals like relocating for a better job, moving to a climate that's better for health reasons, rightsizing for families, etc. Yes, rates & price are important in the short run but a long term outlook should prioritize other intangibles around quality of life, as well as a focus on building equity.
 
Financially, buyers will do well investing in their own equity with an estimate of over 6% increase in price in 2024 for Deschutes County - Core Logic. Ask me for a home equity calculator to see how your home investment will grow over 10 years.
Price Increases in our feeder markets could increase buyer activity in Bend.
 
"San Jose, San Francisco, Los Angeles Leading The Country In Q1, Boosted From A.I. Jobs Spike" - World Property Journal
 
San Jose's median price of $1.84 million is up 13.7% from a year ago. Other pricey markets included Anaheim, San Francisco, San Diego, and LA - Mortgage Professional America
 
I also have first-hand accounts of 10+ offers on homes in Seattle and Portland. Those sellers will be our buyers!
Month-over-Month Market Data for Bend
Please note that this data is for April, and the MLS states a $707,000 median price compared to this median sale price below for April. Ask me for longer range and up to the minute stats as we evaluate your home. Days on the market for the median price decreased to only 16 days. List prices are rising, so the sold prices will follow suit in the summer months ahead.
Median Sale Price
$602,000
$765,000 last month
 
New Listings
17
12 last month
 
Average Sale Price
$673,250
$780,290 last month
 
List vs Sold Price
102%
97% last month
 
 
Top Seller Tips: ROI for Upfront Efforts
 
  • Pre-Listing Home inspection, along with the required Home Energy Score. Overcome objections and repair negotiations by addressing any issues up front. In a recent listing, the buyer waived the home inspection after reading the report and seeing repairs completed!
  • Staging: buyers will see how they want to live in a home. A range of sources tout a 1%-5% increase in sales price due to staging as well as reduced time on the market.
  • Paint and Landscaping: I've seen some great examples of a bathroom, laundry & dining room refresh with a very small painting budget. Fresh mulch and flowers improves curb appeal and the ever-important first photos.
Low Inventory, Fast Sales, and Rising Prices
 
Mortgage Rates Dip for Second Week, Offering Hope to Homebuyers
 
Good news for homebuyers: the average 30-year mortgage rate fell to 7.02%, down from 7.09% last week. While still high compared to last year, this decrease offers some relief in a tight housing market. Could this be the break buyers need to finally find their dream home?
"Mixing Mocktails" event at The Flamingo Room
Thanks for joining us!
DO YOU KNOW YOUR
HOME WORTH?
 
Stay Up to Date on Market Trends
ex: Bend's median list price is currently $1,115,000
 
 
Local News
Bedroom refresh to celebrate new season
With spring on the doorstep, there is no better time to bring this refreshing new season inside your home; and the bedroom is a great place to start.
Portland 1 of only 6 large US cities where wages are keeping up with rent
Since 2019, rent prices have surged 30.4%, while wages have risen 20.2%, according to a recent Zillow analysis.
Rock on: Summer concert season kicks off tonight at Bend’s Hayden Homes Amphitheater with LCD Soundsystem
Welcome warmer weather is getting more people outdoors across the High Desert, for a variety of fun activities - including concerts, of course.
See one of Oregon’s ‘7 wonders’ from the steepest gondola ride is North America
Oregon is home to the steepest four-person gondola ride in North America, according to Travel Oregon, and the seasonal, 3,700-foot lift is set to reopen on May 18.
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
Just Listed!
$750,00 (SS)
Just Listed!
$849,000 (SS)
Just Listed!
$399,000 (AW)
SOLD!
$795,000 (TE)
PENDING (LB & AW)
$995,000
PENDING (FW)
$419,000
Price Improvement!
Active (LB)
$680,000
Active (LB)
$5,249,000
Active (LB & SS)
$1,895,000
Active (LB & TE)
$1,795,000
Price Improvement!
Active (LB)
$1,549,000
Active (LB)
$ 1,160,000
Active (AW)
$412,000
Active (SS)
$290,000
LOOKING FOR YOUR NEXT HOME?
Customize your own search here:
 
 
Laura Blossey
Founder and Principal Broker
 
949-887-4377
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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