Bend Oregon Market Report
Post image for Bend Oregon Market Report . . . October 2014

Bend Oregon Market Report . . . October 2014

by John and Sandy Kohlmoos on November 9, 2014

The Giants Win The Pennant

October . . . the month the Giants clinched the pennant, then went on to capture the World Series in most dramatic fashion.  Seems the Bend real estate market pretty much knocked it out to the park as well. Especially after a rather lackluster month of September.

Bend Oregon Market Report

Nine Sales Over $1 M in Bend

Listed and sold by Cascade Sotheby's in Bend Oregon

The million dollar plus market killed it for a change; nine sales in October! The big winner–a contemporary masterpiece on the 14th tee box of the David Kidd-designed track at Tetherow. It went for a cool $2,050,000 or $420/square foot. The first home in over a year to top the $2M mark!

$420 per square foot in Bend Oregon

The 4946 square foot single level home featured 4 bedrooms and 4.5 baths. It offered dramatic floor to ceiling windows, spectacular Cascade views, and custom cedar siding.

Single level overlooking 14th. tee at Tetherow in Bend . . . onlt $2,050,000

It also offered four distinct master suites as well as radiant floor heating throughout.

Cascade Sotheby’s and the High End

Interesting to take a closer look (might require a magnifying glass!) at Bend’s October numbers . . . fully 14 of the 21 most expensive purchases for the month were listed or sold by brokers from Cascade Sotheby’s.

top 21 sales in oct . . . 14 by Sotheby's agents

That’s supposed to be a plug!

Market Indicators

Most of October’s market indicators were solid:

  • 207 sales for the month
  • Inventory levels remained low . . . just 2.7 months overall
  • Distressed properties accounted for just 5% of overall sales
  • Median price jumped to $297,500
  • “Pendings” remained strong at 193
  • Interest rates near all time low
  • New construction continued to flourish

East Side Bend . . . $157,000

There is scarcely any inventory available at $200,000 (see the Bend Oregon Market Report  chart at the top of the page) . . . well, what could one get for $157,000? This 2/2, 1512 square footer on a cul-de-sac on the east  side (no, it’s not on the train tracks!).

$157,000 on Bend's east side

This one, featuring almost a half acre, sold in just 63 days at $104/ square foot. A deal!

Great entertaining on the east side!

Median Price . . . $297,500

The median bumped about 10% . . . for that one could expect something like this 3/2, single level home in Quail Pine Estates.

Median price in Bend for October rose to $297,500

It featured an open floor plan, a good sized (.21 acre) lot, and went for $201 per square foot.

median interior

Notable Sales in October

Yeah, we got a couple of them:

There is almost no inventory available in The Parks

My attempt at being artsy with a beautiful Lee Iverson design . . . 4 bedrooms, 4.5 baths, at $579,000 in The Parks.

Starview

A Steve Van Sant classic with stellar Cascade views on Awbrey Butte at $900,000.

Looking Back . . .

Normally, in this section, I try to make some sort of lame prognostication on where we’re headed. But, by chance I happened upon an old post (from August 2010) titled Bend Among Strongest Housing Markets by 2014 that forecast all the great things would happen in 2014. I think they have. It’s pretty interesting to consider where our market was (59% of sales under $200,000, distressed properties accounted for 55% of all sales, median price at $175,000) and compare it to where we are now.

Try our Bend Map and Lifestyle Search

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: