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REAL ESTATE NEWS | NOV 2024

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REAL ESTATE NEWS | NOV 2024

 
early season snow on The Three Sisters
 
November is a shift into the holiday season as seen in stores, change of weather, and Mt Bachelor opening earlier than ever! Sellers may take their homes off the market due to out of town guests or showing fatigue, so home searches should always include withdrawn or cancelled listings - which don't show up on sites like Zillow - so always ask me if there are any off market properties if you're just searching on your own. Bend's median price increased to over $800,000. New construction is booming. And best yet, buyer activity is noticeably increased, based on personal experience with writing offers, showings to out of town buyers, and increased pending sales in the MLS. See below for the post-election effect, RSVP for your complimentary pumpkin pie, and an iconic downtown home coming on the market. Note our other new listings, from riverfront condos to a charming home on a cul de sac.
 
Happy, Happy Thanksgiving. I am so grateful this holiday season.
🎃 Pumpkin Pie Giveaway! 🎃
 
It’s that time of year again! In appreciation for my amazing clients, partners, and the community that supports us all year long, I’m giving away pumpkin pies just in time for Thanksgiving!
 
📅 Tuesday, November 26th
🕚 11:00 - 2:00
📍 Pick-up at Roundabout Books in NWX: 900 NW Washington St, Bend
 
RSVP by clicking the photo so we can save your pie! 🍁
Characteristics of Home Buyers -
It's not what you think!
  • 73%: no children under age 18 in the home. This is the highest share recorded.
  • 62%: married couples / 20%: single females / 8%: single males
  • 24%: first time home buyers, the lowest since NAR started collecting data in 1981.
  • 38 years old: the median first-time buyer age, up from 35 last year
  • 61 years old: median repeat buyer age, up from 58 last year
  • 17%: purchased a multigenerational home, for cost savings (36%), to take care of aging parents (25%), because of children or relatives over the age of 18 moving back home (21%, and children over the age of 18 who never left home (20%).
  • 16%: veterans
Market Update
The median sale price for single-family homes has risen to $800,000, largely driven by the 35% of the 143 closed sales over $1 million. Slower sales in lower priced homes is surprising but Avenir Realty has several pending sales in this price point too.
 
Sales have been steady since June. Additional economic factors paint a balanced picture: inventory saw a slight dip (due to withdrawn listings? pre-election jitters?), the average days on market increased to 44 days, and new building permits also rose, suggesting healthy market activity. While not as intense as the 2020-2021 peak, the current market remains stable with sellers still holding an advantage.
For more current data, click here:
Property Spotlight: Iconic Home in
Downtown Bend's Historic District
Coming Soon
Located directly across from Drake Park, enjoy a short walk to dinner, shopping, or a riverfront outing. The quality and warmth of the home exudes casual elegance with rich woodwork, marble finishes, one-of-a-kind design and inviting spaces. With 5 bedrooms, 4.5 baths, an office, gym, and bonus space, it's perfect for many types of buyers. Ask for more details and early showings. Offered at $3,495,000
 
Post-Election Trends: A Bright Outlook for Real Estate and Stocks (and relief from the ads!)
Regardless of who you voted for, post- election results has been good for real estate and the stock market - the latter especially uplifting for cash buyers. According to Anthony Saglimbene of Ameriprise, “Markets appear to be buoyed by a clearer fiscal path forward, lifting both equities and real estate optimism.”
 
On the real estate front, CNBC reports a 2% increase in mortgage applications for home purchases, despite rates rising to 6.86%. FHA and VA-backed loans have seen heightened activity. We're seeing out of town buyers finally booking their flights to see homes in person, potential sellers deciding to put their homes on the market, and overall optimism about real estate.
 
For more insights, visit Ameriprise and CNBC.
Neighborhood Spotlight
 
Explore Sunriver, known for its stunning landscapes, family-friendly amenities - and home to many great vacation memories! Located just 15 miles south of Bend, Sunriver offers easy access to world-class golf courses, miles of biking and hiking trails, and scenic spots along the Deschutes River. The community is a favorite for residents and vacationers alike, featuring a welcoming atmosphere with restaurants, shops, and recreation centers. Sunriver is a destination that combines natural beauty with endless adventure.
 
Visit www.AvenirRealtyGroup.com to see more neighborhoods we love. What others would you like to see?
Local News
More stats and insight: City of Bend launches transportation, housing data hubs
BEND, Ore. (KTVZ) -- The City of Bend is launching two new data hubs for community members to view information on the Transportation Fee and Housing data. ....
Five critical steps to buying your first home
The journey to acquiring your first home is a significant milestone, marking a transition into a new phase of life. While exhilarating, the process can also be daunting, filled with complexities and unfamiliar terrain. ...
The best things to do in Bend for November
November in Bend makes everyone scoot to the edge of their seats. Yours might be a brewery barstool as you tip back a pint for Bend Ale Trail Month, or […]
Setting Real Estate Goals for the Holidays
It's the perfect time to focus on your real estate goals with the interest rate falling 0.5% and with more cuts likely to come from the Federal Reserve Bank.
REAL-TIME MARKET PROFILE FOR BEND
 
Stay Up to Date on Market Trends
ex: Bend's - or Seattle's - median list price is currently (find out here!)
 
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:
Just Listed!
Active (LB)
$599,900
Just Listed!
Active (FW)
$315,000
Just Listed!
Active (FW)
$309,000
Active (LB)
$5,249,000
Tumalo Tranquility
Active (LB)
$3,195,000
Active (LB)
$2, 999,000
Active (LB)
$2,190,000
Active (LB & TE)
$1,795,000
Lincoln City Getaway
Active (LB)
$1,195,000
Prineville Acreage
Active (AC)
$ 65,000
Active (AW & AC)
$895,000
"Off Brookswood"
Powers Rd
Pending (SS)
$659,000
Active (LB & AC)
$699,999
Price Improvement!
Active (LB)
$649,000
Active (SS)
$290,000
Pending (LB & SS)
$1,667,000
Larkspur Area
Pending (LB)
$635,000
Pending(LB)
$645,000
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. LauraBlossey, License 201204340, Avenir Realty.
 
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473 W. Hood Ave #102,
Sisters, OR 97759