Bend Real Estate Sales Down

March 2019 Bend real estate sales followed the trends noted earlier in the year. Although there was a seasonal uptick in March 2019 of  Bend single family residential home real estate activity, new home listings, those in pending status and those sold were significantly down.

• Numbers of homes for sale down 15.1% to 377*
• Numbers of homes sold down 27% to 149
• Numbers of homes pended down 8.6% to 201

Bend Home Prices Up

While actual sales are down, the average price of a Bend single family home continues to rise. Comparing March 2018 with March 2019:

• Average price per square foot on sold homes up 6.3% to $252
• Average active price up 4.9% to $682,000
• Average sold price up 8.9% to $536,000

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Pronghorn Resort Offers New Lodging Options

Huntington Lodge, Pronghorn's long anticipated newest overnight lodging option, is opening soon. We were fortunate to experience the 104 room lodge prior to its grand opening in an invitation only soft opening as they work out the bugs.

The windy road to Pronghorn off Powell Butte Hwy ends at the Pronghorn gate house were we were greeted by the gate house attendant who asked where we were going. Obviously he notified Huntington Lodge as the two check in attendants  greeted by name as we walked in the door.  The main entry at the lodge is spacious with check in immediately to the right and concierge services to the left (the concierge was not staffed but we are sure they will be active during peak seasons). Directly in front is the bar where Pronghorn staff were working with the bartenders to "test" the menu; unfortunately none of these tests were available for anyone else to try!

Immediately past the bar, the glass opens to the outside deck were a large fire pit invites many to gather and enjoy the sunset and early evening. We met other Pronghorn employees and a few locals at the fire pit and watched the sun set past the new pool. This is a beautiful setting and I am sure guests at Huntington Lodge will enjoy this experience daily.

Our room on the 2nd floor was just past the bridge that overlooks check in and the bar. Although fairly basic, the room had a nice Illy coffee maker and a back lit mirror in the bathroom. Spa robes and slippers were also available to us, nicely folded and ready for use in our room.

It is exciting to have Huntington Lodge open after so many years. We are sure visitors to Pronghorn will enjoy the experience. But there is a secret not being discussed by the staff - a secret which lies directly under the lodge. There is a lava tube large enough to host events currently accessed by a very steep ladder. But keep the secret until Pronghorn is ready to tell us all!!

Permits Down for New Bend Homes

After many years of growth in new home construction in Bend, the number of permits pulled so far this year for single family homes are significantly down compared with previous years. From a high of 117 in March 2017, February 2019 had the lowest number of new home permits pulled in 4 years with less than 40.* February is typically a busy month for builders obtaining permits to build homes for summer sales.  This decline is significant as it is not following the normal trends.

Why Are Bend Builders Not Pulling Permits?

When a good analysis of Bend home trends is looked at, it becomes obvious that Bend new home construction has slowed. Many builders are sitting on inventory and while prices have continued to rise, sales have s...

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What's in the BPRE March Newsletter?

• Can Bend Families Afford to Live in Bend?
• How is the Bend Real Estate Market Changing?
• Commercial Real Estate Market Update.
• Important Lessons and Tips to Know.
• Protecting the Equity of Your Home.
• Boosting Curb Appeal can do Wonders for a Sale!
• And much more...

#flipbook#

Bend Real Estate Market Changing

February 2019 had the most dramatic change to the Bend Real Estate market that we have seen in many years. Sales dramatically declined while prices increased, although at a reduced rate than we have experienced over the past few years.  It appears that the trends we started to see the second half of 2018 are continuing.

When February 2019 is compared with February 2018, the data for Bend single family residential sales on less than an acre are as follows:

• Numbers for sale down 6.6% to 398
• Numbers sold down 36% to 105
• Numbers pended down 17% to 151
• Average price per square foot up 2.9% to $248
• Average days on market unchanged
• Sold/Original listing price different down 1% to 96%
• Average active price up 6.2% to $681,000
• Average sold price up 3.1% to $498,000

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