Bend's Median Now $418,000 . . . Market Update - Best Bend Homes for Sale
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Bend’s Median Now $418,000 . . . Market Update

by John and Sandy Kohlmoos on October 12, 2017

September 2017

Aside from some early (too early!) season snow, September was sort of a boring month in Bend. The real estate market seemed to take note as well; nothing too exciting as it continued to chug along on its merry way.

Real Estate in Bend

For the sixth straight month, we saw more than 200 single family residences (206 to be exact) purchased. Things will continue to be good for at least another 60 days, as we also saw another 230 homes pended.

Bend Real Estate . . . Market Update for September 2017

Ho-hum, in what would have been huge news just a few months ago, our median price hit another all-time high . . . inching up to $418,000. Always interesting (to me!) to compare pricing on the two sides of Bend . . . median price on the east side was $360,000; whereas on the west side, it jumped to $599,000 (ouch!).

Affordable Bend . . . $237,500

Looking at the chart above (and the absence of numbers in the first row), almost makes me think that “affordable Bend” is an oxymoron. Regardless, the low priced leader for the month was a two bedroom, one bath, 873 square foot home on a tiny (2613 square foot) lot off Third Street, and sort of close to the Old Mill District.

Most affordable house in bend Oregon

The well-maintained Craftsman bungalow featured a bit of “vintage charm” (surely a euphemism for something) and a fenced backyard. It sold for a hefty $272 per square foot.

Bend Real Estate . . . Market Update for September 2017

This home sold for $171,000 in 2014. That’s almost a 40% increase in three years! Not bad . . .

Bend Real Estate . . . Market Update for September 2017

September’s Median Price . . . $418,000

Bend’s median priced home would resemble this  like-new home in The Bridges on Bend’s southeast side. Three bedrooms, 2.5 baths, 2328 square feet.

Median price in Bend--$418,000

The house featured a great room plan with gas fireplace and open kitchen (quartz counters, stainless appliances, knotty alder cabinets).

Bend Real Estate . . . Market Update for September 2017

Community amenities included a pool, hot tub, clubhouse, indoor basketball court, and fitness center. A pretty sweet deal at $180/square foot.

Luxury Bend . . . $1,455,000

We didn’t see luxury performance like last month (when 15 homes sold for more than a million dollars). The big winner was a house in Broken Top that went for $1.45 M . . . but, since there were no photos of the home in MLS, we’ll instead feature the runner-up.

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Also, in Broken Top, this 3/3.5, 3228 square foot home was purchased for $1,180,000 or $362 per square foot.

Bend Real Estate

It featured all the expected stuff . . . high ceilings, massive wood beams, a Montana moss stone fireplace. It also offereda chef’s kitchen and “mostly single level living.”

Broken Top in Bend aoR

Significant Sales/ New Listings

Just one significant sale in September . . . a pristine Sage Canyon cabin at Brasada Ranch; it was never in the rental program and sold for $315,000. I should have bought it!

Cabin sold by John and Sandy Kohlmoos

A wonderful new listing on 10 acres in The Highlands. The home should be completed in spring of 2018. It’s priced at $3,380,000

Sandy Kohlmoos's listing in The Highlands

What’s Ahead?

Judging from the traffic at the roundabouts, there is no sign of a slacking of  in-migration. That will continue to drive pricing higher (perhaps at a slightly slower rate). Interest rates remain surprisingly low (around 4%). New construction abounds . . . 60 permits issued in September.

Barring some bizarre political shenanigans (not beyond the realm of possibility), signs point to a couple of strong months ahead. Enjoy the fall colors!

Bend's Median Now $418,000

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