The survey conducted by The Source Weekly for the Best of Central Oregon in 2023 resulted in two winners for Bend Premier Real Estate. Tiffany Clark was named the runner up for Best Realtor and Bend Premier Real Estate was named the runner up for Best Real Estate Company.  Thank you to everyone who voted for us. We appreciate the support!

What's in the August 2023 Bend Premier Real Estate Newsletter?

• Bend Home Sales Average Over $1,000,000 in July
• Mt. Hood's Clear Lake Hike Worth the Trip
• Four Ways You Can Use Your Home's Equity
• There's Only Half the Inventory of a Normal Market
• Housing Market Forecast

Bend Homes Sales Price Over Million Dollars

We never thought this would happen, but the average Bend single family home sold for over a million dollars in July, 2023. Despite mortgage interest rates hovering around 7%, high end Bend homes are selling. When demand exceeds supply, home prices rise. When mortgage rates jumped from 3.5% to 7% in the space of a few months, there was a drop in home sales. However, it appears that home buyers have become used to higher rates, and there are still a large number of Bend home buyers who are purchasing with cash. Lack of inventory continues to be a big problem and lack of affordability for Bend first time homeowners has pushed many to alternative cities.

When figures for Bend single family home sales are compared between July 2023 and July 2022, the following changes can be noted:

• Average sales price is up 8.8% to $1,012,215*
• Median sales price up 4.2% to $797,450
• New listings down 28.6% to...

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Balloons Over Bend Starts Friday

There is a fascination with watching colorful hot air balloons rising at sunrise in the Central Oregon sky with the backdrop of the Cascades and the high desert landscape. Starting this Friday, the annual Balloons Over Bend festival will run through Sunday offering daily sunrise launchings of the hot air balloons, Night Glow Friday evening in Bend and Saturday evening in Redmond, plus many fun activities for the whole family during the day. The planned schedule is as follows:

Friday July 28, 2023

• Balloon launches at Sunrise at RE Jewell Elementary School
• Balloon blast kids race at COCC
• Bend Night Glow at COCC

Saturday July 29, 2023

• Balloon launches at Sunrise at RE Jewell Elementary School
• Redmond Night Glow and Brewfest at the...

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Bend High End Home Sales Reflect a Changing Market

It has been awhile since we last reported on Bend luxury home sales. We pulled a report showing year to date activity over the past three years. While Bend home prices in general are back to a small upward trajectory year over year, the numbers of sales are significantly down, as they are in all price points in most of the markets in Central Oregon and across the country.  Higher interest rates have changed the buying power of would-be home purchasers, even in the high end, and have also kept many would-be sellers off market. Why sell when the mortgage interest rate many homeowners have is so good? A replacement home, while potentially being better for the current lifestyle of a home seller, may cost more on a monthly basis with the higher interest rate with which they may need to purchase.

When the first six months of high end Bend home sales are compared year over year between 2022 and 2023, the following change...

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