Posts made by author 'Bend Premier Real Estate'

What's in the November 2024 Bend Premier Newsletter?

• Bend Home Prices Up in October
• Green Bean Casserole
• November Home Fixes Not to Forget
• Hiking Tam McArthur Rim to No Name Lake in the Fall is an Experience
• Why Buying Now is Worth It

Bend Home Prices Up In October

The trend seen over the past four months changed in October when year over year Bend home prices rose rather than fell. Both average and median Bend single family home sales prices were up, perhaps a reflection of lower interest rates seen in September which enabled more home buyers to purchase higher priced homes or an unusual anomaly which was reflected with a large number of million dollar plus homes (over 35% of total home sales) closing. Typically in the fall,

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Cascade Mountain Hikes in Fall Can Have Unexpected Weather Conditions

Hiking in the Oregon Cascades in the fall can offer amazing experiences with stunning views, early snow, fall colors, and no need for forest passes. However, the weather can also change suddenly and hikers need to be prepared.

On October 26, 2024, the hike from Three Creeks Lake to Tam McArthur Rim began with low clouds covering the Cascades. The hike up from the trailhead (the sign was already covered for winter), to the rim experienced some wind, although much of the early part of the trail was in sheltered forest. Once reaching the rim, the winds really picked up, but the clouds also lifted so that the mountains (Broken Top, The Three Sisters, Mt Washington, Three Fingered Jack) could be seen.

Typically the unmaintained trail from Tam McArthur Rim to Broken Top and No Name Lake is fairly simple until hikers reach the cinder rim which is traversed before getting to Broken Hand. On October 26, the clouds lifted and the wind picked up. For those not prepared for wind chill, the gusty winds would have really impacted comfort. Hiking below Broken Hand rather than across the face made a lot of sense as the wind was getting even more fierce. Upon reaching the ridge overlooking No Name Lake, the wind was extremely strong and it was difficult to even stand; anything loose would have been blown off the ridge. Getting a few pictures and returning to a more sheltered space behind a rock outcropping made sense, as well as drinking hot drinks before attempting the trek back. Very few people traveled this hike to Broken Top this day, although upon returning to Tam McArthur Rim, there were a good number who had reached the rim in the afternoon once the weather warmed a bit. 

Anyone who hikes in the Cascades in the fall needs to be prepared for changing weather and unexpected situations. But for those who do, the rewards can be amazing.

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it's having on the housing market. Let's break it down.

Election Years Bring a Temporary Slowdown

In any given year, home sales slow down slightly in the fall. It's a typical, seasonal trend. However, according to data from BTIG, in election years there's usually a slightly larger dip in home sales in the month leading up to Election Day (see graph below):

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Bend Luxury Home Inventory is Up

For Bend buyers looking for their ideal luxury home, there was a significant increase in the number of homes for them to pick from in 3rd quarter 2024. When we look at Bend million dollar homes, the categories of homes for sale over $1,300,000 had anywhere from 45% to 89% more listings for buyers to consider. It appeared that more sellers were willing to list their property in 2024 than in 2023, perhaps tied in with lower

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