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Deschutes County, OR Real Estate News

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Luxury Home Inventory is Up For Bend buyers looking for their ideal luxury home, there was a significant increase in the number of homes for them to pick from in 3rd quarter 2024. When we look at Bend million dollar homes, the categories of homes for sale over $1,300,000 had anywhere from 45% to 89% more listings for buyers to consider. It appeared that more sellers were willing to list their property in 2024 than in 2023, perhaps tied in with lower mortgage interest rates experienced in this time period; the cost to sellers for their financed replacement home would be less with lower rates, often making the seller determine that the time to list was then. Is it a Seller's Market for Bend Luxury Home Sales? We are seeing changes in the Bend high end market. Homes that sold quickly...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Oregon Home Prices Have Leveled Off Redmond is a quick 15 minute drive north of Bend and has been a great option for those Central Oregon home buyers who cannot afford Bend, in addition to those who just want to live in a growing community that is supportive of business and family. Unlike other areas of Central Oregon, Redmond has been consistent with its home prices. Few luxury homes are found in Redmond, but rather a more homogeneous housing mix of middle class homes. Redmond home sales for third quarter 2024 reflect this consistency. Looking year over year comparing single family home sales on less than an acre third quarter 2024 with third quarter 2023, the following changes can be seen: Average sales price down .8% to $552,519* Median sales price down 3% to $509,235 New li...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's in the October 2024 Bend Premier Real Estate Newsletter? Our latest newsletter has some great articles on Central Oregon market trends, activities and more. Check it out! Bend Home Sales Are Up Easy Cheeseburger Soup Fall Activities in Central Oregon Canyon Meadow Hike The Top Three Reasons Affordability is Improving .  
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Sales Up With More Inventory and Lower Mortgage Rates It appears that the tide has turned and Bend home buyers are now experiencing lower prices, more choices with more inventory, and better interests rates. This has enabled more buyers to enter the market and more sellers to have confidence listing their home, knowing that their replacement property will cost less than it did just six months ago. This has generated more early fall business than we normally see and a more balanced Bend real estate market. When September 2024 is compared with September 2023, the following changes to Bend home sales can be noted: Average sales price down 11.3% to $837,153* Median sales price down 4.7% to $713,500 Original list price down 4.3% to $882,186 Median sales price down 2.8% to $737,400...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Canyon Meadow is a Permitted Hike in the Mt Jefferson Wilderness Canyon Meadow is a relatively easy hike in Central Oregon if limited to just the meadow loop which takes trekkers through burned forest, old growth forest and the meadow back to the beginning at Jack Lake. However, many will take the one way climb past the meadow up to the base of Three Fingered Jack. This adds significant elevation gain as well as beautiful views of Three Fingered Jack, sometimes including mountain goats and technical climbers on the craggy top of the mountain. For those adventurous enough to climb the loose rock and pumice past the glacial lake onto the ridge separating Three Fingered Jack from the nearby unnamed hill, the views south toward the Three Sisters and Mt. Washington and the views north towar...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's in the September 2024 Bend Premier Real Estate Newsletter? Are Lower Mortgage Rates Spurring Bend Sales? Summertime Fruit Salad 10 Things to Do in September Take the Climbers Trail to Middle Sister Early Forecasts for the 2025 Housing Market See Bend Premier Real Estate for more great blogs.
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Lower Mortgage Interest Rates Spurring Bend Real Estate Sales? Mortgage interest rates have come down to their lowest rate in a year with the 30 year mortgage now at 6.35%. This has made a difference in both the buying and selling side of Bend home sales with buyers now being able to afford more than they could just a few months ago and sellers, who have been sitting on the fence on whether or not they wanted to give up their great mortgage rate for a new, higher one on a different home, feeling comfortable enough to at last list their home.  We are seeing more listings at lower median and average listing prices and more pending sales in August as a result. When August 2024 is compared with August 2023 for Bend single family home sales on less than an acre, the following changes ca...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
If you are one of the people who love to climb mountains, you are probably familiar with the climber's trail which provides the established way to summit North Sister in the Oregon Cascades. For those not that ambitious but who love a long day hike, taking the trail part way will enable hikers to have amazing Cascades views plus close up access to Hayden Glacier on Middle Sister. The route to Hayden Glacier starts at the Pole Creek Trailhead. This is the same trail that is taken to reach Camp Lake which provides for wonderful access to the north facing slopes of South Sister. The first 3.5 miles is through the burned forest of the 2012 Pole Creek fire, but after leaving burned woods, the trail enters healthy forest and the trek is shaded. Before hikers reach the North Fork of Whychus C...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Golden Lake is Not an Easy HikeFor Central Oregon residents and visitors looking for a great day hike, there are a good number of options available. For many, a hike of 2 to 4 miles to an amazing destination followed by the same distance back can create a full day with time to relax and enjoy both the original destination and the time back home. However, for those wishing to see more in the Cascade forests besides what is seen in a day hike, many will backpack and spend more time enjoying the destination before venturing further or coming back. Golden Lake is one of those rarely seen destinations. It can be accessed through multiple approaches. These include the popular Green Lakes Trail in which hikers walk past the northern most Green Lake and travel above the valley to the pass betwe...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Black Crater Trailhead is Located off McKenzie Hwy 242 For those wanting a relatively short hike which provides for a lot of elevation gain, Black Crater is one of the best. Located off McKenzie Hwy 242, the hike is limited to the summer season when McKenzie Hwy opens each year. Unfortunately, the 2017 Milli fire burned a lot of the forest on McKenzie Hwy, and the lower slopes of Black Crater were impacted. In the seven years since the Milli fire, manzanita, certain grasses, some wildflowers, and young trees have begun to grow in the dead landscape, but it will take decades until the cinder cone is entirely forested again. The one advantage of the burned forest is the views toward Mt. Washington are far more visible in the lower elevations than they would have been eight years ago. Rou...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Camp Lake is at the Base of South Sister Although many will hike to Green Lakes and enjoy the experience of the lakes in the valley between South Sister and Broken Top, relatively few hike to Camp Lake and see South Sister so close from the north. The hike to Camp Lake (Pole Creek trailhead just outside of Sisters) takes you through several miles of burned forest before hikers enter living forest, so it can be hot and dusty in the summer. However, once hikers reach unburned trees, the hike becomes more pleasant. In recent years, the fallen trees of the burned forest have been cleared from the path, so scrambling over, under and around fallen logs was not an issue in 2024.  On August 3, 2024, the air in Central Oregon was better than it had been earlier in the week (many Oregon forest f...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Real Estate Sales at a CrossroadsThe data has been published and the trends we have seen for many years for Bend home sales have changed. Instead of seeing home sales prices increasing year over year, in July 2024 home sales prices decreased year over year. This change directly reflects on the increased inventory levels the town has experienced in the last few months. The Covid pandemic resulted in tremendous demand for Bend homes which drove the price up when inventory could not keep up with the number of people wanting a Bend home. Now, at a level pushing four months of supply, the Bend home market is at a transitional time with many more homes and a more limited buyer pool. High home prices and high mortgage interest rates have priced many out of the Bend market and sellers are ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Many people living or visiting in Central Oregon will take the drive outside of Sisters to Three Creek Lake to enjoy the quiet of this 28 acre shallow lake, fishing, boating, swimming or just relaxing around the shoreline. The campgrounds in this area are usually very busy during the summer and many people will come up daily to recreate in the area.Besides the lake, many will take the 5.3 mile round trip hike (permit required) above the lake to Tam McArthur Rim, gaining over 1200 feet in elevation to reach the rim. Typically the views from this spot are clear from Broken Top and the Three Sisters all the way to Mt. Hood. However, in recent years summer forest fires have added haze and smoke often obstructing the views. On July 20, 2024, the day started with a slight haze but by the end...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Luxury Home Buyers Have More Options The figures are out and the first six months of 2024 reflects an increase in Bend homes for sale over $1,000,000. The amount of Bend luxury home inventory is significantly up compared with 2023 and 2022 which leads to more options for the Bend home buyers who can afford a high end home. The days on market are rising and home sellers who really need to sell are recognizing that with more competition, asking price needs to reflect today's market.Bend Luxury Home Listings Are Often Experiencing Price Reductions During Covid Bend home listings were bid up with multiple offers to a point in which many homes sold over asking, even among the high end. In today's market, however, we are often seeing Bend home listings with price reductions. Sellers who...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Single Family Home Sales Strong Redmond Oregon is a booming town. For those who live there, that is evident every day with new construction, new businesses, and new residents moving into this vibrant community. Over the past decade, the town's population has grown by 27% and has a large percentage of the town's residents being families with an average of 3.15 residents per home according to the city website. There is not a wide variation in home prices in Redmond with average and median sales price close over the past six months. Although home prices have risen, so have the numbers of pending and sold homes. The months of supply has grown, but Redmond remains in a seller's market, although not as extreme has was seen a year ago. When the first six months of 2024 is compared wit...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Up As Are Inventory Levels Bend home prices are up year over year but so are inventory levels. The rate of the increase in Bend home prices has dropped, but we are still not experiencing overall reduced home prices. While buyers have more options, mortgage interest rates (just short of 7% as of July 3, 2024) remain high which has limited the buying power for many. July typically is the busiest month of the year for Central Oregon home sales and it remains to be seen whether the combination of high prices and high mortgage interest rates will curtail Bend real estate sales this summer.When June 2024 is compared with June 2023, the following changes for Bend single family home sales on less than an acre can be noted: Average sales price up 5.9% to $969,547* Median sales ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
The Hike To Tumalo Mountain Still Has Snow 6-22-24 After a winter which had good snowfall, hiking into the high Cascades has been delayed due to the snow accumulation. However, the warm days experienced over the past week have aided snow melt.  Last Saturday, June 22, 2024, enough snow had melted on Tumalo Mountain to enable hikers to walk the 1450 feet of elevation gain in two miles from the trailhead to the top. It appeared as if half the time the trail was covered by snow, but it was fairly easy to follow the route until the last 1/2 mile; GPS helped navigate this as did microspikes over ice.The hike up Tumalo Mountain is only 2 miles, but the views from the top toward South and Middle Sister, Broken Top, and Mt Bachelor can be spectacular. For those who take the hike early in the d...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Newberry Crater Is Hikeable NowWhile waiting for the snow to melt from the higher elevations of the Cascade Mountains, people looking for a Central Oregon hike with mountain views can consider Newberry Crater National Monument. Besides the well-known Paulina Falls, Obsidian Trail, the hike to Paulina Peak, and the various treks around both Paulina and East Lake, there is the relatively little known hike starting at the Cinder Hill campground at the end of the road by East Lake up to the Crater Rim and then to the Cinder Hill viewpoint. Although not the longest hike, there is close to 1000 feet elevation gain over two miles and then the relatively easy 3/4 mile hike along the Crater Rim trail to the view point. The hike from the campground to the rim is not difficult due to multiple swit...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What's In The June 2024 Bend Premier Newsletter? What are the Puzzling Trends for Bend Home Sales? Raspberry and White Chocolate Muffins 10 Ways to Prepare Your Home for Summer The Road to Paulina Peak in Newberry Crater is Open for Hikers The Wealth Building Power of Home Ownership  
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
What The Puzzling Trends For Bend Home Sales Tell Us The May 2024 data has been published and it appears that Bend home buyers have more options. Inventory levels are up, but so are prices and overall sales are down. Basic economics tells us that as supply increases, prices should decrease. But right now, the supply of Bend homes has grown along with a slight uptick in home prices with sales significantly down from the year before. Adding to the confusion are mortgage interest rates. According to Freddie Mac, mortgage interest rates were above 7% for most of the month of May which impacted the purchasing power of many potential Bend home buyers.                      What Were The Bend Real Estate Trends May 2024? When May 2024 is compared with May 2023, the following data reflects Bend...
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