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All About Oregon Real Estate

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The June 2024 Bend Premier Newsletter? What are the Puzzling Trends for Bend Home Sales? Raspberry and White Chocolate Muffins 10 Ways to Prepare Your Home for Summer The Road to Paulina Peak in Newberry Crater is Open for Hikers The Wealth Building Power of Home Ownership  
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What The Puzzling Trends For Bend Home Sales Tell Us The May 2024 data has been published and it appears that Bend home buyers have more options. Inventory levels are up, but so are prices and overall sales are down. Basic economics tells us that as supply increases, prices should decrease. But right now, the supply of Bend homes has grown along with a slight uptick in home prices with sales significantly down from the year before. Adding to the confusion are mortgage interest rates. According to Freddie Mac, mortgage interest rates were above 7% for most of the month of May which impacted the purchasing power of many potential Bend home buyers.                      What Were The Bend Real Estate Trends May 2024? When May 2024 is compared with May 2023, the following data reflects Bend...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
  The Paulina Peak Road Has Snow But It Is Melting Fast Reports about the trail to the top of Paulina Peak in Newberry Crater National Monument on June 1, 2024 stated that the last mile had a lot of snow. Rather than navigate through this and the abrupt steep drop off the last mile of the trail, hikers could elect to walk the road up to the peak. This road was not yet open for vehicles and had snow patches in the shady areas, but was very much passable by hikers. The last 1/2 mile to the peak on the road had three feet of compacted snow, but with the use of trekking poles, it was easily traversed. The views of the snow capped Cascades and Paulina Lake were splendid from the top as were eastern views toward Fort Rock and the Obsidian Flow. Hiking the road results in 1600 feet of elevati...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Chush Falls Is Snow FreeOne of the earliest spring snow free hikes in Central Oregon's forests is the hike to Chush Falls. The trailhead is located off the road to Three Creeks Lake outside of Sisters several miles down a gravel road and then a short trek up a narrow dirt and rock road. The parking area is small so people wanting to hike the relatively short 2.2 miles to lower Chush Falls should plan on arriving early to get a parking space. The trail starts in burned forest - the result of the 2017 Milli Fire. However, unlike the experience with earlier hikes, almost all of the burned trees from this fire which have fallen across the path have been cleared which makes the trek to Lower Chush Falls fairly quick. One result of the fire are the views of North/Middle Sister and Broken Top ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Black Butte Trail Is Short But SteepThe trail to the top of Black Butte starts part way up the butte after a drive on a fairly well maintained dirt and gravel road followed by a poorly maintained dirt and rock road. Once you reach the trailhead (complete with stocked toilets), the two mile hike to the top of the butte can be accomplished fairly quickly.  Hikers gain over 1500 feet in the two miles, but the Cascade views from Broken Top to Mt Adams can be spectacular on a clear day. There is limited parking at the Black Butte Trailhead (forest pass required) so hikers are recommended to arrive early to get a spot and to avoid crowds.  The hike is very popular with visitors to Black Butte Ranch and and Camp Sherman as well as local year-round residents. Original blog can be read at Bend P...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Bend Luxury Home Prices Stabilizing?It has been a while since we have done a careful analysis of the high end Bend home market. Overall, the Bend real estate market has seen growth in inventory levels along with high mortgage interest rates and a more normal increase in home prices. The same cannot be said for the luxury market. For Bend luxury single family homes on less than an acre, inventory levels and sales prices appear to have stabilized with only a slight increase in the number of homes priced between $1,000,000 and $1,600,000. For homes priced over $1,600,000, there has been a decrease in sales price over the past twelve months. The Number Of Bend Luxury Homes Selling Is Down Along with high mortgage interest rates comes issues with affordability. Even with the luxury home ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The May 2024 Bend Premier Real Estate Newsletter?We are seeing spring in the air and our latest newsletter has articles addressing spring and the Bend housing market.  Bend Home Inventory Levels Rising Asparagus and Crab Salad To Dos: Your May Home Checklist 2024 Bend Oregon Concerts Scheduled Builders are Building Smaller Homes Original post can be seen at Bend Premier Real Estate's blog page.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Home Inventory Levels Rising Bend real estate is entering its peak selling season from late spring until early fall. With this season a rise in home inventory levels typically leads to greater buyer interest and more sales as buyers who may have been sporadically looking for homes get more serious about their purchase, often wanting to negotiate a sale and closing before fall. Sellers who may have been waiting until spring and summer when landscaping is alive and curb appeal can be its best will put their homes on the market hoping to sell quickly. And real estate brokers may find that both buyers and sellers they have been in communication with through winter are now ready. The April figures for Bend single family home sales on less than an acre reflect rising inventory le...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Central Oregon Market Trends 1st Quarter 2024 The Central Oregon real estate market trends for the major urban areas continue to reflect a seller's market, although residential inventory levels have risen in most locations. The desperate lack of inventory experienced during Covid has changed, and while home prices overall continue to rise, in some smaller markets price reductions can be noted. With more inventory, days on market have also generally gone up, but well priced homes are still selling quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories with home prices, listings, inventory levels and days on market all rising. Whether or not this trend continues in 2nd quarter with mortgage interest rates well about 7% remain...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Single Family Home Prices Up After dropping 1st quarter 2023 from 1st quarter 2022, Redmond single family home prices rose 1st quarter 2024. The relative affordability of Redmond compared with other urban areas in Deschutes County (i.e. Bend, Sisters and Sunriver), has led to an influx of new purchasers and demand for those who cannot qualify to purchase homes elsewhere. That and a growing number of local events and an active city council keeping up with infrastructure needs has led to a vibrant community for which demand cannot keep up with new inventory; rising home prices have been the result. Redmond Listings Still Lower Than Needed Although there were more new listings 1st quarter 2024 than in 2023, the number is still down 20% from 2022. Inventory levels of single family ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Hayden Homes Amphitheater In Bend OregonNestled in the heart of Bend's Old Mill District along side the Deschutes River, Hayden Homes Amphitheater stands as a testament to the harmony between nature and music. With its picturesque surroundings and state-of-the-art facilities, it has become a beacon for music enthusiasts and performers alike.2024 Season of ConcertsThe 2024 season promises to be a spectacular journey through a diverse range of musical genres, catering to every taste and preference. This year there are so far 49 shows on the books including Rock, Classic Rock, Indie-Alt, Pop, Country, Reggae and a few high-profile comedy acts.  To name a few:  Sarah McClachlan, Dave Matthews Band, Vampire Weekend, Stray Cats, Cage the Elephant, Matt Rife, Illza, Nickel Creek, The Avett Bro...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Discovery West Is A New Westside Bend Oregon Subdivision Discovery West is the latest subdivision in the NorthWest Crossing area of Bend's Westside. Developed west of Summit High School and with 40 acres of parks with miles of trails, the project offers a variety of housing options, ranging from apartments, town homes, cottages and single-family homes. Discovery West is being built under the "transect" concept of urban development in which the housing density decreases the further out people go from the urban core. The goal with this type of development is to help mitigate wildfire risk and the impact on wildlife.  Discovery West Is Popular With Bend Home Buyers There is a lot of new construction occurring in Discovery West.  As a new subdivision, many contractors are building spec hom...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The April 2024 Bend Premier Real Estate Newsletter? Bend Home Prices Up and Inventory Levels Down Minty Salsa Verde 7 Paint Colors to Decorate With This April Alder Springs is a Little Known Central Oregon Hike Top 5 Reasons to Hire an Agent Original blog can be read at Bend Premier Real Estate's website.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Hike Alder Springs Ideally In Fall Or Spring The hike to Alder Springs outside of Sisters limits motorized access from December 1st through March 31st to protect the winter rangeland of the local deer populations. However, access to the trail head is on rough dirt roads for which 4 wheel drive and high vehicle clearance is recommended. Directions to the official trail head can be found on the USDA website. The "unofficial" route involves travel on Locust Street (Camp Polk Road) in Sisters 3.1 miles north from East Cascade Avenue. Take this to Wilt Road, staying on Wilt when the pavement ends 4 miles. Past Rimrock Ranch the road is less maintained. Travel another 2.2 miles until you see a sharp unmarked turnoff to the right onto a rough dirt road. Travel on this past a gate until you re...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Up And Inventory Levels Down Despite the trends for January and February 2024 in which prices seemed to stabilize, the sales price of Bend homes rose unexpectedly in March. The year over year figure shows both median and average Bend home prices were up over 12% and inventory levels were down. When coupled with the steep rise in prices, affordability remains a major problem for potential Bend home buyers. When March 2024 is compared with March 2023 for Bend single family homes on less than an acre, the following trends are noted: Average sales price up 12% to $893,967* Median sales price up 13.2% to $760,000 Average list price up 9.2% to $1,059,212 Median list price up .9% to $797,000 New listings down 13.8% to 175 Homes for sale down 15.2% to 240 Pending sales down 2.6...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The March, 2024 Bend Premier Real Estate Newsletter? High Mortgage Rates and Prices Affecting Bend Home Sales Bright Spring Salad Spring Home Maintenance Checklist Spring in Central Oregon? The First Step: Getting Pre-Approved for a Mortgage Original blog can be read at Bend Premier Real Estate's website.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
High Mortgage Rates - High Prices Affecting Bend Home SalesFor the 4th week in a row, the thirty year mortgage interest rate has risen which has impacted real estate sales across the country. With these rates now pushing 7%, the buying power of Bend homebuyers has diminished.With this change, few sellers are putting their homes of the market. Why sell a home with a great interest rate when the replacement home will cost so much more to finance? Both Bend home buyers and Bend home sellers are making decisions based on the cost to finance and when mortgage rates rise, often the decision made is to do nothing.Bend Real Estate Inventory Levels Remain LowAlthough there is always a downward seasonal adjustment for Bend home sales in the winter, the number of homes for sale and pending sales i...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Central Oregon Lifestyle Attractions And The Bend Real Estate MarketCentral Oregon is known for its stunning natural surroundings, outdoor recreational opportunities, and a thriving community. Here are some key points about Bend: Outdoor Activities: Bend is a paradise for outdoor enthusiasts. The city is surrounded by mountains, lakes, and rivers, offering a wide range of activities such as hiking, biking, skiing, snowboarding, fishing, and more. The Deschutes River runs through the city, providing opportunities for water-related activities. Climate: Bend has a semi-arid climate with four distinct seasons. Winters can be cold with snowfall, making it a popular destination for winter sports. Summers are generally warm and dry, perfect for outdoor activities. Economy: The economy in Bend ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Leveling Off The January 2024 Bend real estate market shows some stabilization. Although the average and median price per square foot are both up, the average and median sales price on sold homes comparing January 2024 to January 2023 show little movement. The issue most Bend home buyers are still dealing with is lack of inventory which provides few choices for people looking to purchase. Although mortgage interest rates have come down from the high rates pushing 8% seen last fall, they are still in the mid sixes which also impact the purchasing power for home buyers. When the January 2024 sales for Bend single family homes on less than an acre are compared with those from January 2023, the following changes can be seen: Average sales price down 1.9% to $842,669* Media...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Home Sales Dropped In 2023 Redmond has been among the best locations in Central Oregon for middle class homeowners to reside.  Situated only 20 minutes north of Bend on Hwy 97, Redmond has been a more affordable option for many looking to purchase in Central Oregon and its close proximity to Bend has made Redmond a town from which many who work in Bend can fairly easily commute.  Redmond experienced the same real estate market trends Bend did during the Covid pandemic with limited inventory and great demand pushing prices up. Low interest rates enabled many to purchase Redmond homes at lower prices than seen in Bend. However, when interest rates doubled in 2022, this greatly impacted the buying power of would-be Redmond homebuyers and in 2023, median home prices dropped in Redm...
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