Bend Oregon Luxury Homes Sales Trending Up
May 21, 2018
Bend Or Luxury Home Sales Growing
The trends are showing that the number of luxury homes in Bend are growing with strong figures in almost all categories. Since coming out of the recession, home prices in Bend have gained each year, but now more of the Bend real estate market is reflected in the million dollar or more price point than ever before.
The last 12 months reflect 35.8% more million dollar single family homes were sold in Bend than the year before, which was up 41.8% over sales in 2016. At the same time, new listings were up 25.7% in 2017 (171) and 54.4% in 2018 (264).*
In contrast to the added growth in sales in the million dollar plus Bend home, the months of inventory are dropping, reflecting that the homes which hit the market are selling. Although not yet at a balanced market (6 months of inventory), the change in the inventory numbers show that Bend luxury homes are popular with buyers and these properties are moving.
Predictions for Bend OR Luxury Home Sales
Although mortgage interest rates have risen slightly, we do not see a slowdown in the demand for Bend luxury homes. The trends reflect a strong market, and providing no drastic change occurs in the economy, we predict that million dollar homes in Bend will continue to sell.
*Data from Central Oregon MLS Original blog can be seen at Bend Premier Real Estate.