Will Mortgage Rates Continue Their Downward Trajectory?

For the past five weeks, mortgage interest rates have dropped, returning to figures that haven't been seen since August. Any relief from the high rates recently experienced is welcome. With each 1% reduction in mortgage rates, it roughly reduces the monthly mortgage payment by 10%. The chart below shows how purchasing power is impacted by mortgage rates.

Bend Home Buyers Have More Options with Lower Interest Rates

When potential home sellers have great mortgage interest rates, they hesitate to list, even when a different home may be a better option for them at this time in their lives. When the financed cost of a new home would make their monthly payment significantly more, the benefit of a different living arrangement is offset by the monthly cost for the...

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What's in the November, 2023 Bend Premier Newsletter?

• Bend Real Estate Sales Lacking Listings
• Brussel Sprout Slaw with Apples and Pecans
• 10 Tips to Help You Prepare for Thanksgiving
• Hike to Broken Top From Todd Lake
• The Benefits of Buying a Multi-Generational Home

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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Eagle Crest is a Long Established Destination Golf Resort Community

Begun in 1985, Eagle Crest is recognized by Oregon's Department of Land Conservation and Development as one of eight destination resorts in the state. There are three golf courses, spa facilities, two sports and fitness centers, three outdoor pools and one indoor pool, 13 miles of paved paths, hiking trails, and a conference center all within 1700 acres. A variety of housing is available at Eagle Crest with everything from large, luxury homes to condominiums with fractional ownership. There is even a 55 plus development within the subdivision.

Eagle Crest Home Prices Have Stabilized

Eagle Crest home prices for single family residences increased dramatically during Covid and into 2022. However, during the past twelve months the median sales price for...

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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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