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“Bend Sucks . . . Don’t Move Here”

by John and Sandy Kohlmoos on June 23, 2016

Bend Sucks . . . Don’t Move Here

The bumper stickers are available online at eBay and Amazon; locally, they can be found at Newport Market.

Bend sucks . . . don't move here

Obviously, the Bend real estate market thinks otherwise!

Bend Doesn’t Suck

The market continued on its roll in May. We saw the purchase of 245 homes . . . about right for this time of year (and up almost 20% from a month ago).

Bend home sales--May 2016

  • Inventory levels remained low (just 2.1 months overall) despite the availability of almost 100 more homes than April’s offering.
  • Median price continued to climb . . . up to $370,000
  • The high end flourished . . . eight sales over $1M
  • The low end really did  suck (check out the top row of the above chart); affordable housing is a real problem.
  • Finding a rental was near impossible . . . less than 1% vacancy rate
  • New construction continued to kill it (Tetherow, NorthWest Crossing)
  • 74 building permits issued
  • Pending sales stayed strong (205)

Affordable Bend . . . $217,500

Just five years ago (May 2011), 91 homes sold for under $200,000 . . . we all wish that we’d bought a few of them! This year, the least expensive home sold was a three bedroom, 2 bath, 1008 square foot single level on Bend’s SE side.

There's nothing under $200,000 in Bend!

I’m not sure why, but that area of Bend seems to have its own micro climate . . . looks sort of cold, doesn’t it?

$217,500 in Bend Oregon

The home needed floor coverings and some other “friendly touches.” Still, not bad for under $100 per square foot. Next month, it may be tough to find anything under $250,000.

Median Price in Bend . . . $370,000

The median priced home in Bend would look like this upgraded circa 1920’s bungalow in the heart (easy walking distance to the pubs!) of downtown.

Median priced home in Bend Oregon--$370,000

The single level cottage featured 2 bedrooms and a den packed into 1175 square feet.

It also offered 952 square feet of dark, unfinished basement, and an alley-accessed single car garage. The home closed in just 47 days at $315 per square foot.

Median priced home in Bend--$370,000

To put things in perspective, in 2010, it sold for $170,000. To put things in even more perspective, in 2008, it was listed (unrealistically) at $498,000!

The High End is Hot!

I can’t remember a month like this . . . 8 homes sold for more than a million dollars! Not sure if it’s an aberration or a sign of things to come. Regardless, the big winner was a home that “captured the essence of quintessential Bend” (I think that’s polysyllabic Realtor speak for “a cool house”).

A hope and a skip to Mirror Pdond in Bend

The four bedroom, 2.5 bath, 3478 home, located just a big hop and a skip from Mirror Pond,

Mirror Pond in Bend

went for $1,435,000 or $413 per square foot.

rocklyn interior

Interestingly, this is what the home looked like in 2009 . . . when is sold for $447,778.

high end from 2008

A Long Hot Summer

It appears that we’re in for a long hot summer; unlikely that things will slow down anytime soon.

“Bend sucks . . . don’t move here!”

Remember, it’s just a bumper sticker!

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