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Oregon Annual Market Report 2021

Principal Broker of Bend and Sisters Oregon, Brian Houston, gives the summary for Central Oregon:

“Home sales in Central Oregon remained strong rounding out 2021 vs. 2020. Closed sales for single family residences in Bend dropped slightly at -2.7% compared to 2020 while properties greater than one acre rose 6.7% and properties greater than $1 million rose 69.8%. Home sales in Sisters for single family rose 1.2% compared to 2020, while luxury homes greater than $1M rose 91.7%. The median sales price in Central Oregon showed significant increases 2021 vs. 2020. Median sales price for single family residences in Bend increased 27.3% compared to 2020 while properties greater than one acre the median sales price rose 24.5% and properties greater than $1M dropped -1.9%. Median sales prices in Sisters for single family rose 28.5% compared to 2020 while the median sales price for luxury homes greater than $1M dropped slightly at -0.1%.”

President and Chief Executive Officer of Coldwell Banker Bain, Mike Grady, with the following report:

“It’s been 20 months since this hyper-market started and, from a numbers perspective, no one predicted anything like what we experienced in 2021. We ended up increasing listings by 10%, closings by 8.5%, average sales price by 21.1% and ended the year surpassing $8 Billion in total closed volume.

Looking ahead at 2022, the economic news continues to be positive: interest rates, net new job formations, migration patterns all good for the Pacific Northwest. The attitudes and moods of our business leaders is positive and upbeat.

There are some concerns for 2022. The media recent focus on recent “inflationary” trends, the announced easing of mortgage-backed securities being purchased by the Federal Reserve’s lead one to be aware that home mortgage interest rates are very low today and might slightly increase in 2022. And we’re slightly concerned about a report from NAR that the percentage of first-time home buyers was below 30% in November.

But we believe the positive economic news is significantly stronger and we remain bullish on 2022 and early 2023. Yes, inventory will be a continuing challenge and yes, home prices will continue to increase as the competition for inventory continues – but neither as concerning as 2021.”

If you’d like the Annual 2021 Market Report for other areas, please reach out to Patty@DempseyGroupBend.com for a specific report in your area of interest.

Acreage, Bend Homes, Buying a Home, Home Sales, Luxury Homes, Oregon, Properties, Ranch Properties, Real Estate, Uncategorized

Oregon 2021 Q3 Market Report

The latest Central Oregon Market Report is in and we’ve compiled the Bend highlight from our office’s Principal Managing Broker at Coldwell Banker Bain in Bend.

Brian Houston said, “The third quarter of 2021 showed fewer closed units for residential properties under $1 million compared to the same quarter of 2020. Homes priced over $1 million saw a 27.5 percent increase over the same period in 2020.

Listing activity in the third quarter of 2021 vs. the third quarter 2020 shows an incredible increase of 67.5 percent for homes priced under $1 million and an increase of 72.9 percent for homes above that price point. The Central Oregon market remains strong as we enter the seasonal cooling period. We are still seeing multiple offers in every price range for homes in excellent condition in a desirable area.”

For the full Market Report click on the photo below of Patty Dempsey’s client’s home which is featured in the report.

Bend Homes, Buying a Home, Home Sales, Oregon, Properties, Real Estate, Second Homes, Selling a Home, Uncategorized, Vacation Homes

Best Places To Live: Bend

Patty had the opportunity to be interviewed by The Danae Aballi Team on the ‘Best Places To Live’ podcast and share why Bend is one of the Best!

You’ll want to hear Patty share about the Real Estate prices, cost of living, lifestyle, community culture and more!

Watch below Or listen via Apple Podcast by clicking here.

Bend Homes, Buying a Home, Home Sales, Luxury Homes, Moving, Oregon, Real Estate, Second Homes, Selling a Home, Uncategorized, Vacation Homes

Bend 2Q Market Update

The 2nd Quarter Market Update has arrived and some of the stats may surprise you. The good news is it is still a good time to invest in real estate in Bend, OR.

“Buyers, don’t give up on your search! Inventory in Bend is now at about a one-month supply, still very low but allowing some diligent buyers to secure a home.” -CB Bain in Bend Principal Managing Broker

For the full market report click here. Contact our team to discuss any of your real estate questions by calling, 541-946-3371, or sending an email to team@dempseygroupbend.com.

Bend Homes, Buying a Home, Home Sales, Luxury Homes, Moving, Oregon, Ranch Properties, Real Estate, Selling a Home

Market Update

Check out the latest Market Update summary for Central Oregon.

Homes are moving fast! This is happening a lot in this market, but how do you know if this is the offer you should accept or not? Let an experienced broker with 20+ years in Real Estate in Bend, OR be your guide – Call Patty Dempsey for your professional consultation, 541-480-5432.