• Central Oregon real estate market in a period of transition

    Posted on in category Localtaggedbend , Housing , Local , Market , Real Estate , Realtors , Redmond , Single-Family Homes , Sunriver , What’s Trending

    Central Oregon is seeing a “more balanced real estate market.” Learn more here.

    Central Oregon sellers may find that they’re not getting multiple offers within days of listing their homes for sale, but that doesn’t mean the market is turning in favor of buyers.

    It does indicate, however, that a transition is building from a seller’s market to a more balanced real estate market for Central Oregon, said Donnie Montagner, owner of Beacon Appraisal Group in Redmond. Real estate professionals say that more homes are up for sale and taking longer to sell. When those two home-sales components change, it creates a more balanced market for buyers and sellers, Montagner said.

    Prior to the pandemic, in 2020, a single-family home…

  • New home sales fall 12.6% in July as rising prices take a toll

    Posted on in category Localtaggedbend , Deschutes , Local , Market , National , News , Real Estate , What’s Trending

    Rising prices take a toll on the new housing market. Learn more here.

    By Anna Bahney, CNN Business

    New home sales plunged in July as high prices and mortgage rates pushed buyers to think twice about closing the deal.

    Sales of newly constructed homes fell by 12.6% in July from June and were down 29.6% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. It was the second consecutive month of declines.

    Only 511,000 new homes were sold last month, at a seasonally adjusted annualized rate, down from a revised 585,000 in June. That’s the lowest sales number since January 2016. A year ago, 726,000 newly…

  • Hotter than ever: Bend median home sales price soars $57,000 in February, hits $740,000

    Posted on in category Localtaggedbend , Growth , Local , Market , Median , Real Estate

    Bend’s real estate market sees no signs of slowing… Median home sales prices at $740,000. Learn more here.

    (Update: Average Bend home sale price is even higher — $879,000)

    REDMOND, Ore. (KTVZ) — Gas prices aren’t the only thing zooming fast into record territory on the High Desert: Bend’s median home sales price soared $57,000 in February alone to smash the record and reach $740,000, Beacon Appraisal Group reported Tuesday.

    The inventory “remains less than a half-month supply,” appraiser Donnie Montagner said, “and there was a significant increase in the number of new (building) permits,” jumping from 37 in January to a summer-like 79 new permits last month.

    “In addition to market appreciation, about 64 sales were over $769K,”…