When you read about the Bend housing market, you'll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact potential Bend homebuyers? 

The Federal Funds Rate Hikes Have Stalled

One of the Fed's primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn't directly dictate what happens with mortgage rates, it does have an impact.

Recently inflation has started to cool, a signal those incr...

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Tetherow is a Premier Luxury Golf Resort Community in Bend

The developer for Tetherow broke ground on the destination golf resort prior to the housing crisis of 2008. Initial lot sales were brisk, but once the great recession hit, sales dried up. The development sat with little activity until 2012 when lot sales, at a reduced price, started happening again. Over the past 11 years Tetherow has grown and become the destination resort initially envisioned with an active golf and social club, high end luxury homes and townhomes, a hotel, overnight rentals, three restaurants, and much more all adjacent to Bend's city limits on the road to Mt. Bachelor ski resort. It is truly one of Bend's success stories.

Market Trends for Tetherow Homes

Tetherow home prices have been among Bend's highest over the past three years. The Covid pandemic led to a mass migration to Bend and many wealthy buyers purchased in Tetherow pushing home prices even higher. However, over th...

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Bend Home Sales Slow

There is a seasonal slow down experienced every fall for Bend real estate sales. When school starts, many would-be Bend home buyers focus on other things. While retirees and second home buyers may be active in early to mid fall, once Thanksgiving comes, the number of Bend real estate sales drop as both buyers and sellers tend to concentrate on holiday activities with home sales secondary to celebrating the season. In 2023, however, the annual slow down for Bend home sales typically seen in November was exceptional. When November of 2023 is compared with November of 2022, Bend single family home sales on less than an acre reflect the following:

• Average sales price up 3.5% to $859,650*
• Median sales price up 1% to $702,750
• New listings down 26.1% to 82
• Homes for sale down 29.9% to 281
• Pending sales down 18.7% to 87
• Sold homes down 24.1% to 104
• Average days on market up 22% to 50

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Bend Real Estate Sales Lacking Listings

The October 2023 figures for Bend single family home sales have been produced and lack of inventory appears to be a consistent problem. Inventory levels have dropped year over year as have pending sales and sold homes. Despite a rise in new listings, the overall Bend real estate market reflects an anemic number of sales with prices remaining high and high interest rates greatly impacting the buying power of would-be purchasers. 

When October of 2023 is compared with October of 2022, Bend single family home sales show the following changes:

• Average sales price down 3% to $795,928*
• Median sales price up 7.6% to $731,500
• New listings up 6.9% to 140
• Homes for sale down 33.1% to 297
• Pending sales down 8.9% to 102
• Sold homes down 21% to 128
• Average days on market down 7.3% to 38
• Months of supply down 15.4% to 2.2
• Average price per square...

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Deschutes Riverwoods Home Prices Trending Down

Deschutes Riverwoods has long been a Bend subdivision desired by those enjoying its proximity to the city (it abuts Bend's southern boundary), but the freedom of large lots without Homeowner's Associations or CC&Rs. Homes there range from single wide manufactured to luxury homes overlooking the Deschutes River. It is also a neighborhood in transition with more and more of the older mobile homes being replaced over time with stick-built single family. 

Home prices have dropped in Deschutes Riverwoods over the past twelve months in comparison to the previous year. This could be due to the type of home being sold, or a general overall reduction in home prices as home sellers adjust their asking dollar to accommodate higher mortgage interest rates. Deschutes Riv...

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