All About Oregon Real Estate

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Inventory Levels Down and Prices UpCentral Oregon is now in the fall season and typically during fall, Bend real estate sales drop. However, Bend single family home sales in October 2020 were anything but typical with sales breaking historic records. Speed forward to October 2021. While lack of inventory is still impacting prices, compared with the frantic fall sales of 2020, home sales in October 2021 seem more measured with offers often undergoing counter offers and negotiations on home repairs back with most transactions. This is a win for Bend homebuyers and for sellers, a strong sellers' market makes it a great time to list.When October 2021 is compared with October 2020 for Bend single family homes on less than an acre, the following changes can be seen: Average sales ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
October 16, 2021 was probably one of the most beautiful fall days in Central Oregon that we have seen for many years.  The cool weather in the morning warmed during the day and the sky was a perfect blue with a few high clouds. The snow that fell on the mountains earlier in the week had melted some and it was a great day to take a long hike in the Cascades. We started off the day deciding to hike the Three Sisters Wilderness loop from Soda Creek around Broken Top to Green Lakes and back via Fall Creek to the trailhead.  We had taken this hike last year in late October and thought it would be good to do again.  However, 4.5 miles into the hike the trail branches northeast to Broken Top and ultimately No Name Lake. This time we elected to take the longer hike to Broken Top. Starting the h...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Oregon's First Three Quarters 2021 Reflect Strong Home SalesWe haven't looked exclusively at Redmond Oregon single family home sales for six months.  We know that home sales have been strong throughout Central Oregon with prices up and inventory levels down. But as a community without a lot of single family luxury homes, Redmond attracts a great number of people for whom Bend has become unaffordable.  Although a smaller community to Bend, Redmond has also had prodigious growth over the past decade.  The Covid lockdowns and work from home orders have also impacted Redmond with more people moving there than available inventory creating bidding wars and pushing home prices up. When we compare the first 3 quarters of 2021 with 2020 for Redmond single family home sales on less than a...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
On October 9, 2021 we were able to check another Central Oregon hike off the bucket list.  The hike to Four in One Cone off Scott Trail in the Three Sisters Wilderness has been a goal for sometime and we were scheduled to hike this earlier in the summer under the new Wilderness Permit System; however extreme wildfire smoke kept us away on our scheduled day. In early October, the hike started with cool temperatures (in the 20s) but warmed during the day to the 50s. The hike is not long (roughly 9 miles round trip) with elevation gain just over 1400 feet. The hike is called Four in One Cone due to the nature of the 4 cinder cones which are adjacent to each other and have the unique topography of being blown out on one side with the remaining rim flowing into the next cone. The views from ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Bend Oregon Real Estate Sales Returning to Normal?Are we getting back to a normal, seasonal adjustment to Bend real estate sales? Typically Bend single family home sales drop off in the fall once children start back to school and regular fall activities resume.  Bend's usual homebuyer in the fall includes retirees, the second home buyer and investors.  However, Bend home sales fall of 2020 did not drop off with homebuyers snapping up available property at amazing levels through the end of October. Sales remained above normal even through the holidays.As we reported in an earlier blog this year, Bend home sales started shifting from the frantic buying seen over the past 12 months to a more normal level in July, 2021 and this trend has continued through September. Although well priced...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
We enjoy hiking the various trails accessed via McKenzie Pass (Hwy 242) while it is open during the warmer months. One trail we attempted the first time a year ago but didn't complete due to freezing temperatures was Belknap Crater. The trailhead is located just past the Observatory and traverses a section of the Pacific Crest Trail (PCT). The unique topography of this hike passes through two wooded "islands" which survived the recent (last 1000 years) volcanic eruption of Little Belknap Crater and provide for shade in this otherwise exposed terrain. Past the last island, the hike climbs onto twisted, rugged lava complete with lava bombs, pressure ridges, lava tubes, and of course, the two peaks which were the origin of the miles of lava the hike takes trekkers through. Good footwear is...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Experts Predict a Changing Bend Real Estate Market It is a bit of a puzzle to figure out how the Bend Oregon real estate market will wrap up the year.  Experts are really struggling right now when it comes to forecasting where our market is headed in terms of home prices and interest rates.  As put by CNBC, "Fall is usually the start of the slower season for the housing market, but nothing is usual in today's pandemic-driven housing market." 2019 was an excellent real estate year across the country, but the 2020 market was truly unique when the pandemic initially tanked Bend real estate sales and then on the rebound, sales were escalated beyond what had ever been seen.  Work from home orders provided an opportunity for homeowners to rethink where they lived. This resulted in locations ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
After a month of terrible, hazardous air due to smoke from several forest fires settling in the Bend Oregon area, on Saturday, 9-11-21, Central Oregonians were thrilled to experience clean air as the bad air dissipated and the normal sparkling blue skies of September returned. We had planned on hiking Green Lakes on 9-11 as part of the series of scheduled hikes we had set up in April due to the newly implemented 2021 Wilderness permit system.  However, we were ready to cancel if the air quality was as it had been the Saturday before - extremely hazardous with limited visibility and health recommendations to stay indoors. As we drove up Century Drive towards the Green Lakes trailhead, the remaining smoke in the area was evident until we passed Widgi Creek and all of a sudden, the skies w...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Real Estate Trends MixedAs we move into Fall, Bend home sales typically slow as those who need to move prior to school starting have already purchased and the normal slight uptick we see in September and October with retirees and second home buyers has not yet begun. In 2021, August single family home sales on less than an acre for Bend reflected a mixed market with prices and new sales up, but closed sales and new homes for sale down. When August 2021 home sales are compared with August 2020, the following changes are seen: Average sales price up 18.7% to $776,735* Median sales price up 19.8% to $635,063 New listings up 5.8% to 273 Homes for sale down 56.1% to 276 Pending sales up 41.3% to 431 Sold homes down 23.7% to 232 Median days on market down 40% to 6 Months of supply...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
There Has Been Strong Demand for Central Oregon Homes in All CommunitiesWe have been focusing a lot on Bend real estate trends over the past year, but it is important to look at what has been happening in other cities in Central Oregon. We often look upon Redmond, La Pine and Prineville as wonderful towns in which home prices are more affordable and can be great options for buyers for whom Bend is too expensive. Sisters' home prices have been more comparable to those in Bend, but its unique lifestyle, size and location closer to the Willamette Valley make it a small town that may be a destination location for very specific buyers.The real estate trends for Redmond, La Pine, Prineville and Sisters follow similar patterns to those for Bend, but at different values. The chart below outline...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Stunning Views Over Every Hill and PointWe hiked the Obsidian Trail for the first time last year and really enjoyed the beauty of this trail which starts in the Willamette National Forest and traverses through the Three Sisters Wilderness. The photos do not replicate the interesting experience of sunlight reflecting off the sharp obsidian pebbles and larger stones seen in portions of the hike.Our hike on August 7, 2021 started with smoke filled air blowing in from the Willamette Valley and Washington State. During the course of the hike we had varying degrees of smoke impacting our views and breathing, but the air quality got progressively better as the day wore on. We repeated the hike from last year, but once we reached the Glacial Way trail which loops back to the Obsidian Trail clos...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Buyers and Sellers Have Different IdeasAfter months of seeing record breaking prices where multiple offers, bidding wars, and buyer panic was the norm, we are finally seeing this historic balance between buyers and sellers start to reverse both nationally and in our Bend Real Estate market. The major reason for this… Buyers have simply had enough! Although those saying it’s a good time to sell reached another record high according to a recent Fannie Mae survey, home sellers saying it’s a good time to buy also reached an all-time low. We are certainly seeing this trend locally as well with an end to the recent “panic” buying and even a lot of “price improvements” as buyers are no longer willing to pay thousands or even tens of thousands of dollars over asking price.Souring buyer sentimen...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend OR Real Estate Trends Starting to ShiftAsk most Central Oregon Brokers what happened with July 2021 real estate sales, and they will tell you that they saw a change to the market during the month. Although prices were up considerably over those from a year ago, compared with June, 2021, prices actually were down on average.  A good number of price reductions were seen on a daily basis and the pace and number of multiple offers on listings were dramatically down. Compared with a year ago, the trends we have seen over the past year remained consistent, but not at the extreme levels experienced during the Covid lockdowns. Some offers on properties are now experiencing counter offers and the days on market are lengthening.  It remains to be seen whether or not these trends will continu...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
We have lived in Bend Oregon since 1985 and have hiked to Tumalo Falls and beyond many times. This lovely waterfall, located not far from Bend's westside, also is in the Bend Municipal Watershed where the majority of Bend's water comes from. Most tourists hike the 1/4 mile from the parking lot to the view point at the top the falls. But for those who are willing to continue hiking past Tumalo Falls on the trail toward Happy Valley, the rewards of many additional waterfalls are well worth the effort.On July 31, 2021, we hiked the alternate route to Happy Valley, traveling up North Fork Trail #24, climbing 1300 feet to the Junction of trails 370 and 4601 and from there to Happy Valley. Happy Valley has changed a lot over the years we have hiked there.  What used to be a remote location ha...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
To reach Camp Lake, part of the Chambers Lakes in the Three Sisters Wilderness, hikers starting at the Pole Creek Trailhead have to trek trough 4 miles of dead trees, the result of 2012's Pole Creek Fire. We did this hike July 24, 2021 and it was a warm day. Despite the heat and the dry conditions, we saw some interesting things along the way, among them what we believe was a young Red Tailed Hawk sitting in one of the burned trees as it scouted the area for rodents. We also had fun crossing the North Fork of Whychus Creek as it flows out of Diller Glacier on Middle Sister. The remaining 3 mile trek to Camp Lake is in alpine wooded areas with fabulous views of Middle and North Sister. Just before reaching Camp Lake, the views open and South Sister becomes the main mountain visible, towe...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend OR Luxury Home Sales Have Spiked in 2020 When we think of luxury homes in Bend, we have a vision of a grand property with stunning mountain or river views, lots of elbow room, and fabulous amenities. Easy location to access the Bend lifestyle, which includes proximity to downtown, the mountains, the river, and the Old Mill also checks a lot of homebuyer's luxury wish lists. Having an up-to-date architectural design and interior features are also important to many who are making Bend their home. Yet with so many people moving to Bend over the past year and with inventory supply not keeping up with demand, homes that are not considered luxury have pushed the million dollar market into never before seen figures. The chart below outlines the last ten years of million dollar home sales ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend's Market Starting to Show Positive Moves for Homebuyers To say Bend has been in a seller’s market for some time now would be an understatement. There has been so much demand in our local market that Bend single family home prices are up roughly 40% from a year ago. Much of this is spurred by this new “Zoom” generation where, thanks to the pandemic, people are realizing they don’t have to live and work in the metro areas. Instead, they can live where they want and work from home and meet with people with teleconferencing software like Zoom. However, amidst what has seemed like an impossible situation in Bend for home buyers who have missed out writing offers on numerous homes… and still not getting any offer accepted… there are a couple signs of hope. The supply of homes in Bend is ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Our First Experience With New Hiking Permits-Green Lakes to Golden Lake The Green Lakes trail, off Century Drive in the Central Oregon Cascades, has historically been one of the most popular hikes in Oregon.  It has been used by families, trail runners, day hikers and backpackers for years as a beautiful and fairly easy hike to accomplish with the 4.5 miles and 1500 feet of gradual elevation change pretty doable for most. Over the years, we have hiked to Green Lakes many times, usually traveling on the east shore to the northern most lake, but enjoying the views and wildflowers and waterfalls of Fall Creek along the way. We have seen a huge increase of hikers traveling to Green Lakes over the years, but 2021 is the first year access to Green Lakes Trail is subject to the Central Oregon ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Real Estate Prices Escalated During Covid We typically look at Bend real estate trends based on comparisons each month - seeing what the data shows the same month a year previously.  This has resulted in some startling information, especially when trends over the past year are reviewed. The Covid pandemic impacted the Bend Real Estate market in ways we never anticipated when the initial stay at home orders were given. However, to get a full idea on what has happened to Bend home prices, it is often very helpful to look at a longer timeline.  Ten years ago Bend was just starting to turn around from the Great Recession in which poor lending practices led to the mortgage melt down. Real estate brokerages' businesses consisted of working with short sales and foreclosures. It was a ver...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
 Fantastic Small Acreage Just Outside City Limits   PRICE $1,985,000       BEDROOMS 3       BATHROOMS 3, 2 half baths       SQFT 3378  The home is a contemporary 3,378 sq. ft., single level, 3 bedrooms, each with its own private bathroom, and 2 additional half-baths. The master bedroom has a fireplace and en suite bathroom.  The home has two furnaces and two heat pumps. The roof is a 50-year roof in good condition. There is a separate shed for mower and extra storage. This home is located on 2.42 acres virtually in town as the eastern edge of the property is the city limits, but the property is in the county. The property is in northwest Bend on the Deschutes River canyon and has a deeded easement down to the river behind the house. The property has 2 acres of Swalley Irrigation and wi...
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