Bend Home Pricing Hits Historic Milestone!

Never before has the monthly median home price in Bend crested the $700,000 mark, until now. 📈 😯According to the latest Beacon Report, the median home price in Bend for the month of February was $740,000! This historic milestone is the highest median home price ever for Bend Oregon, which crushed last month's median sale price of $683,000. That’s an 8% increase in the median home price in one month! Keep in mind that month to month medians do tend to fluctuate if a large number of very expensive homes happen to close that month. Knowing that, it will be interesting to see if the median stays above the $700,000 range in the months to come.

Spring is here! Introducing all the new listings!...Hello?...Is anyone there?? 🤔❓

Spring is the time of year where we typically see the greatest number of new listings hit the market. But, so far this year, the number of new listings is really small. Right now we have about 2 weeks of housing inventory on the market which is extremely low, which will keep things very competitive for buyers. Last year at this time we had about the same amount of inventory, 2 or so weeks, and it set up the most aggressive seller’s market we have ever experienced. This year is shaping up very similarly so look for the spring selling season to be very competitive!

Interest rates are definitely on the rise. 💲🏹 30 year fixed interest rates are now about 4.25 which is nearly a point higher than they were a year ago and about a quarter of a point higher than a month ago. This trend will likely continue in an attempt to stave off inflation so lock in your rate as soon as you can!

What is the key to success in a competitive real estate market? 🎓🏆Step #1: Have an excellent agent! Now, more than ever before, it’s critical to be in the hands of someone who knows how to navigate a competitive real estate market. 20 years of selling Real Estate in the Bend market has given me the experience to handle any situation that comes my way so give me a call today so I can put my experience to work for you!

- Rob Eggers, Principal Broker rob@bendhomeguide.com